Retail stocks trading mixed after FDI move

Existing rules allow foreign airlines to own as much as 49% in an Indian airline with the exception of Air India

The move is meant to "liberalise and simplify the FDI policy to provide ease of doing business in the country", the government said, adding that the relaxed policy will lead to more investment and improve income and employment. The relaxation of FDI policy is aimed at providing an investor friendly climate to foreign players and in turn attract more foreign direct investment to boost economic growth and create jobs.

Besides retail, the Cabinet also allowed foreign airlines to invest up to 49 per cent under the approval route in Air India. "It has now been chose to permit 100% FDI under automatic route for SBRT", the release added. FDI into India increased by 9 percent to 43.48 billion USA dollars in the last fiscal year.

The FDI provision was earlier available for all Indian airlines except Air India.

On top of that, the Cabinet also allowed FIIs/FPIs to invest in power exchanges through the primary market route.

"It has now been made a decision to do away with this restriction and allow foreign airlines to invest up to 49% under the approval route in Air India", the government said.


FDI norms for construction & aviation sectors also eased.

"At present, the FDI policy in the pharma sector inter-alia provides that definition of medical device as contained in the FDI Policy would be subject to amendment in the Drugs and Cosmetics Act". The Cabinet also decided to make changes relating to competent authority for examining FDI proposals from countries of concern.

For investments beyond 49%, special regulatory permissions were required from the concerned Govt. departments. The new rules are expected to speed up clearances and investments.

The government is planning a review of the foreign direct investment (FDI) regime on Wednesday with the issue listed on the agenda for the cabinet meeting.

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