Industry Welcomes Cabinet’s approval for 100% FDI in Single Brand Retail
Industry bodies such as CII and FICCI have welcomed the cabinet approval to 100 per cent FDI in the field of single brand retail trading and construction development.
Reacting to the cabinet decision, Chandrajit Banerjee, Director General, CII said, “The relaxations in FDI policy announced by the Cabinet are most welcome and would certainly lead to further increase in foreign investment inflows.”
He also said “India continues to attract high levels of foreign direct investment and CII has been very appreciative of the government on measures already taken, especially on ease of doing business.”
Today’s announcement includes multiple measures targeted at specific sectors where opportunities exists.
“100 per cent FDI under the automatic route has been allowed in single brand retail trading and construction development where interest has been rising.” Mr Banerjee further emphasized.
