Government rolled out red carpet for FDI

India opened its doors further to foreign direct investment (FDI), diluting the stringent condition of local sourcing for single-brand retail, in continuation of measures aimed at reviving growth.

  • Government has eased the norms for 30% local sourcing rule for FDI in single-brand trading.
  • Government has now  allowed online sales even before a company sets up a brick and mortar presence in India.

Bigger bite: Now, Apple will start selling iPhones directly to Indian consumers first through its own online store, irrespective of a brick-and-mortar store presence.

Also, Government allowed 100% FDI in coal mining & allowed as much in contract manufacturing through automatic route. The changes in FDI policy will result in making India a more attractive FDI destination.

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