Tags: APFN | AS | India | Economy

India Liberalizes Foreign Direct Investment to Boost Economy

Wednesday, 28 August 2019 12:37 PM

NEW DELHI (AP) — India has decided to liberalize foreign direct investment in domestic manufacturing, coal mining and digital media and will also allow single-brand retailers to start online sales to infuse capital into the country and boost its economy.

Commerce and Industry Minister Piyush Goyal says the Cabinet on Wednesday approved 100% foreign direct investment in coal mining and associated infrastructure. He says it also approved 100% foreign direct investment in contract manufacturing and up to 26% investment in digital media.

The government made the decision as it grapples with a slowing of economic growth to a five-year low of 5.8% in the January-March quarter, with consumer spending and corporate investment faltering. Declining industrial output and automobile sales also raised fears of a deeper slowdown.

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India has decided to liberalize foreign direct investment in domestic manufacturing, coal mining and digital media and will also allow single-brand retailers to start online sales to infuse capital into the country and boost its economy.Commerce and Industry Minister Piyush...
APFN,AS,India,Economy
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2019-37-28
Wednesday, 28 August 2019 12:37 PM
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