Govt liberalises FDI limits in 12 sectors

Business

oi-Staff

By Super

Published: Wednesday, July 17, 2013, 9:10 [IST]

New Delhi: Following decisions on FDI limits were taken at a meeting chaired by Prime Minister Manmohan Singh.

* FDI cap in telecom raised to 100 percent from 74 percent; up to 49 percent through automatic route and beyond via FIPB

* No change in 49 percent FDI limit in civil aviation

* FDI cap in defence production to stay at 26 percent, higher investment may be considered in state-of-the-art technology production by CCS.

* 100 percent FDI allowed in single brand retail; 49 percent through automatic, 49-100 percent through FIPB

* FDI limit in insurance sector raised to 49 percent from present 26 percent, subject to Parliament approval

* FDI up to 49 percent in petroleum refining allowed under automatic route, from earlier approval route

* In power exchanges 49 percent FDI allowed through automatic route, from earlier FIPB route.

* Raised FDI in asset reconstruction companies to 100 percent from 74 percent; of this up to 49 percent will be under automatic route

* FDI limit increased in credit information companies to 74 percent from 49 percent

* FDI up to 49 percent in stock exchanges, depositories allowed under automatic route

* FDI up to 100 percent through automatic route allowed in courier services

* FDI in tea plantation up to 49 percent through automatic route; 49-100 percent through FIPB route

* No decision taken on FDI cap in airports, media, brownfield pharma and multi-brand retail.

PTI