Union cabinet clears 100% FDI in single brand retail
New Delhi, Jan 10 (IBNS): In a major decision by the Narendra Modi government, the Union cabinet on Wednesday cleared 100% Foreign Direct Investment (FDI) in single brand retail, media reports said.
The cabinet approved the extension of FDI in single brand retail from 49% to cent percent in automated route.
The UPA government has earlier extended the FDI to 49% in this sector.
The cabinet however did not increase the FDI in the airlines sector. The foreign airlines can invest in Air India only up to 49% in all routes.
The FDI in real estates has been increased to 100%.
The cabinet meeting, headed by Prime Minister Narendra Modi, is eyeing on to attract more foreign investments.
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