Source: The Economic Times, Apr 20, 2017
NEW DELHI: The proposed dismantling of Foreign Investment Promotion Board, which vets proposals involving fund inflows from overseas, is likely to be bundled with related policy reforms.
On top of the list is doing away with prior government approval for investments in most sectors, including single-brand retail, which could see dilution of the 30% domestic sourcing clause.
“Contours of the proposed changes to the foreign direct investment policy are almost ready… Non-strategic sectors should be on automatic,” said a senior government official privy to discussions on the matter. Read the rest of this entry »