Centre Eases FDI Norms in 15 Sectors

Hyderabad, Nov 10: The Union government today announced reforms across 15 sectors by easing foreign direct investment (FDI) in civil aviation, mining, broadcasting, construction and defence. The announcement came two days after BJP suffered a humiliating defeat in the Bihar assembly elections. Also, Prime Minister Narendra Modi is expected to leave for his first visit to the United Kingdom with a focus on business and investment. In a press release, the Union government said, "To further boost this entire investment environment and to bring in foreign investments in the country, the Government has brought in FDI related Reforms and liberalisation touching upon 15 major Sectors of the Economy." The press release further said, "The crux of these reforms is to further ease, rationalise and simplify the process of foreign investments in the country and to put more and more FDI proposals on automatic route instead of Government route where time and energy of the investors is wasted."