Union Government allowed 100% FDI in Civil aviation, Defence and Food processing

Union Government relaxed Foreign Direct Investment policies and approved 100% FDI under automatic route

i. Defence
ii. Civil Aviation
iii. Airports

And also relaxed in the sectors such as  e-commerce in Food products, Broadcasting carriage services and Private Security agencies

Changes in Foreign Direct Investment

Features of FDI Enhancement:

• Creating platform to Employment and Job Creation in India
• Union Government required $1 trillion to renovate the infrastructure sector such as ports, airports and highways
• It will enhance the country’s balance of payments condition and strengthen the Rupee value against the other nation’s currencies
• The companies such as Apple are allowed to launch their stores in India by exempting them from local sourcing requirement for 3 years under the single brand retail
• In India, FDI is allowed for all the sectors under automatic approval except some sectors need approval from State and Central

Foreign Direct Investment:

A foreign direct investment is a controlling ownership in a business enterprise in one country by an entity based in another country