Next wave of liberalisation in FDI on the cards

Matter may be taken up at the next Cabinet meeting after Modi returns from his four-nation trip

After abolishing the Foreign Investment Promotion Board (FIPB) last week, the Narendra Modi government is close to announcing the next big wave of liberalisation in foreign direct investment (FDI) norms. This could include allowing FDI in multi-brand retail beyond only domestic food products, putting single-brand retail FDI on automatic route in entirety and increasing the FDI limit in print media from 26% to 49%.

Business Standard has learnt from senior government officials that inter-ministerial consultations on FDI between the finance ministry, the Department of Industrial Policy and Promotion (DIPP) and other ministries are nearing completion. “The final draft Cabinet note