Government may relax FDI in retail

New Delhi: The Union Cabinet, in its meeting on Wednesday, would take up proposals to relax foreign direct investment in various sectors, including single brand retail and digital media, as announced by Finance Minister Nirmala Sitharaman in her maiden Budget last month.

The liberal FDI regime is expected to clear the decks for foreign players to invest in the country. Seeking to make India a more attractive FDI destination globally,

Sitharaman had said that the government would examine suggestions for further opening up of FDI in aviation, media (animation) and insurance sectors in consultation with all stakeholders.

The Cabinet meeting chaired by Prime Minister Narendra Modi may also consider approving an ordinance to roll back the surcharge on foreign portfolio investors (FPIs).

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