Govt okays 100% FDI in contract mfg, eases rules for single brand retail

The Union Cabinet also approved 100% FDI under automatic route in coal mining and associated infrastructure

In a fresh round of FDI reforms, the government on Wednesday allowed 100 per cent foreign investment in coal mining and contract manufacturing, eased sourcing norms for single-brand retailers and approved 26 per cent overseas investment in digital media as it looked to boost economic growth from a five-year low.

Coming within a week of Finance Minister Nirmala Sitharaman unveiling a raft of measures to boost growth, the Union Cabinet headed by Prime Minister Narendra Modi liberalized foreign direct investment (FDI) rules in the four sectors.

"The changes in FDI policy will result in making India a more attractive FDI