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Government announces big-bang FDI reforms

Government announces big-bang FDI reforms

Aparna Dutt Sharma, Chief Executive Officer, IBEF

Jul 18, 2013 10:05 AM

The slew of reforms announced by the government is widely seen a bold move to boost the economic growth of the country. With the recent announcements, the government opened the gates for foreign direct investment (FDI) in 10 sectors including telecom, petrol and natural gas, insurance and defence production industries. The efforts have been welcomed by investors, associations and the domestic industry alike and the policy changes are expected to bring-in huge foreign inflows in the long-run.

Announcements like 100 per cent FDI in telecom services and allowing up to 49 per cent investment through the automatic route in single brand retail can be expected to attract many foreign investors to be a part of the India growth story. In fact, the wave of recent reforms is seen as a positive sign for global investors interested in the Indian market.

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