Home > World Business
India Proposes Easing Foreign Investment Rules To Spur Economy
The Alstom SA manufacturing facility in Sri City, Andhra Pradesh, India. Photographer: Udit Kulshrestha/Bloomberg
July 5th, 2019 | 14:50 PM | 842 views
INDIA
India’s government proposed easing rules for foreign investors, while pledging to boost infrastructure spending to help spur growth in the economy.
In her first budget speech to Parliament in New Delhi, Finance Minister Nirmala Sitharaman said the government will consider further opening up foreign direct investment in aviation, while easing local sourcing norms for single-brand retail companies.
Prime Minister Narendra Modi, who returned to office in May following a landslide election victory, is under pressure to revive consumption and investment in the economy. Latest data showed growth slipped to a five-year low of 5.8% in the three months to March.
These are the some of highlights from the budget speech so far:
Government will allow 100% FDI in insurance intermediaries
A global investor meeting will be organized in India, with invitations going to private equity and venture capitalists
Rules for investment in media to be eased
Limits on foreign portfolio investment to be raised to be on par with foreign direct investment
Source:
courtesy of BLOOMBERG
by Vrishti Beniwal and Bibhudatta Pradhan
If you have any stories or news that you would like to share with the global online community, please feel free to share it with us by contacting us directly at [email protected]