Arun Jaitley chairs meeting to review FDI policy

Finance Minister Arun Jaitley on Monday chaired a meeting to review foreign direct investment (FDI) policy in certain sectors, sources said.

The meeting was attended by Commerce and Industry Minister Nirmala Sitharaman, Power Minister Piyush Goyal and senior officials in the Department of Industrial Policy and Promotion (DIPP), sources added.

Sources, however, remained tight-lipped about the deliberations held in the meeting.

Sources said the meeting appears to be a follow up of the meeting Prime Minister had called last month on FDI policy.

The meeting assumes significance as the government is considering to liberalise FDI policy in certain sectors such as single brand retail, multi brand retail, and construction.

The government is relaxing norms to provide investor friendly climate to foreign players, and in turn, attract more FDI to boost economic growth and create jobs.

Foreign direct investment in the country grew by 9 per cent to $43.47 billion in 2016-17.