The Union Government of India on 16 July 2013 raised the FDI limit - TopicsExpress

The Union Government of India on 16 July 2013 raised the FDI limit in Telecom Sector from 74 percent to 100 percent. Government also cleared that the FDI in the Insurance and Telecom sectors will be up to 49 per cent through automatic route. The Union Government also mentioned that FDI the single brand retail would be up to 49 percent through automatic route and remaining investments would be directed through Foreign Investment Promotion Board (FIPB) route. FDI in asset reconstruction companies will be up to 49 per cent through automatic route. FDI in Credit Information Companies has been raised to 74 per cent from 49 per cent. The Government also confirmed that the FDI in Defence Production will continue to be 26 percent. However, it will be directed through FIPB route for state of art technologies, and investment beyond that will go to Cabinet Committee on Security. The decision was taken in a meet chaired by Prime Minister and attended by the Cabinet Ministers. The decisions were made to boost the Foreign Direct Investment in the country.

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