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FDI norm relaxation to help attract more investments: CII

Press Trust of India  |  New Delhi 

The decision to relax norms in sectors like single would lead to further increase in foreign investment inflows, industry body today said.

Chandrajit Banerjee, Director General, said: " continues to attract high levels of Today's announcement includes multiple measures targeted at specific sectors where opportunities exist".

He also said that the decision to permit foreign airlines to invest up to 49 per cent in is expected to bring some capital to support a turnaround in the national carrier.

In big bang reforms ahead of the Budget, the today permitted foreign airlines to invest up to 49 per cent in debt-ridden Air India, and eased norms for investment in single brand retail, construction and power exchanges.

In a separate statement, Rajat Wahi, Partner, India, said the move will not only attract additional foreign capital, but will also provide an impetus to the retail industry growth, at a time when organised and is already seeing a strong growth over the last 12 months.

"Global brands across different categories, from apparel to to accessories will be aided through this, providing further options to Indian consumers and improving India's ranking in ease of doing business," he added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, January 10 2018. 21:15 IST