Govt eases FDI caps in some sectors

Govt eases FDI caps in some sectors
Easier FDI norms likely for industrial parks
Media FDI norms up for review


NEW DELHI: Government on Wednesday approved easing caps on foreign investment in sectors such as civil aviation, petroleum and natural gas and commodity exchanges, Information and Broadcasting Minister Priyaranjan Dasmunsi said. "The union cabinet reviewed and approved foreign direct investment policy for further liberalisation in following sectors: civil aviation, petroleum and natural gas, commodity exchanges, credit information services, mining in titanium, industrial parks and construction and development," he told reporters.

"Details will be given shortly, he said. India hopes to attract foreign investment of $26 billion in the 2007/08 fiscal year that ends in March, substantially higher than $16 billion a year earlier. It approved an investment cap of 49 per cent in credit information companies, and said it would allow up to 100 per cent foreign direct investment in the mining of titanium-bearing minerals and ores. A limit of 74 per cent was imposed for investment in non-scheduled, chartered and cargo airlines.


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