INDIA: Ministry of Commerce and Industry releases results of India FDI meeting

Wednesday July 17 2013

The Ministry of Commerce and Industry have released a number of proposals regarding the results of India foreign direct investment that concluded at a meeting chaired by the Prime Minister. The proposed caps on foreign investment in specific sectors are as follows:

• Petroleum and Natural Gas and Refining- 49%
• Commodity Exchanges- 49%
• Power Exchanges- 49%
• Stock Exchanges, Depositories, Corporation- 49%
• Asset Reconstruction companies- 49%, 49%-100% requires consent from Foreign Investment Promotion Board.
• Credit Information companies- 74%
• Single Brand Retail trading- 49%, 49%-100% requires consent from Foreign Investment Promotion Board.
• Basic and Cellular Services, etc.- 49%, 49%-100% requires consent from Foreign Investment Promotion Board.
• Courier Services- 100%
• Defence Production- CCS may approve proposals on case to case basis beyond 26% where the investment is likely to result in access to modern technology in the country.

Please click on the above link for the Ministry of Commerce and Industry Press release.