100 percent FDI cleared for single brand!

100 percent FDI cleared for single brand!

It will now become easier for ventures such as Tata-Singapore Airlines and other domestic carriers to rope in foreign partners to bring in more funds for bidding.

While there have been efforts by previous governments to divest part of all of the state's stake in Air India, none has shown as much commitment and intensity as the current National Democratic Alliance.

It permitted foreign airlines to invest up to 49 per cent under the approval route in the debt-ridden, loss making national carrier, said an official statement issued after the Cabinet meeting chaired by Prime Minister Narendra Modi.

Expressing strong resentment on the government's decisions of easing FDI investments, Swadeshi Jagran Manch (SJM) co-convener Ashwani Mahajan said, the organisation, "firmly believes that easing the norms for FDI in SBRT would go against the best interest of the country".

Family slams TV series on Versace murder
The family challenges in particular Orth's claim that Versace was HIV-positive. "We stand by the meticulous reporting of Ms. Versace's family, who lived and worked closely with him and were in the best position to know the facts of his life".

Opening up of FDI for real estate brokers will surely help the sector in India.

The government has allowed investment of about 49% on Air India, ahead of the union budget 2018-19.

"This breakthrough will open up millions of new employment opportunities, a push to investment activity in the economy and expansion in economic growth trajectory in the coming times", he said. The Cabinet has allowed 100% FDI via automatic route in single brand retail trading and construction, while it has raised the existing limit in power exchanges and aviation sectors. It is therefore, eligible for 100 per cent FDI under the automatic route. However, foreign investors' purchases were restricted to the secondary market only. The amendment is likely to benefit companies such as Swedish furniture maker Ikea, which is planning to set up stores across the country.

Mahajan particularly targeted the government's decision to relax the 30 per cent local sourcing condition for single-brand retail, saying it ran counter to the government's "Make in India" policy. "It is a progressive step towards attracting foreign investment and ease of doing business in India". It remains an unfinished agenda for the government. Earlier also 100 per cent FDI was allowed in the segment, but it required government approval.

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