Opening doors of opportunities! Cabinet approves 100% FDI in coal mining and contract manufacturing

News Bharati    29-Aug-2019
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New Delhi, Aug. 29: Indian government’s ‘ease of doing business’ is one of its own kind initiative for boosting business ecosystem in India. To make this undertaking further, Union cabinet approves 100% FDI in coal mining and contract manufacturing.
 

 
 
 
To boost domestic manufacturing, 100 % FDI in contract manufacturing under automatic route has been allowed. Further 26% FDI has been allowed in digital media. 
 
This move is taken for promotion and bringing the huge foreign investments and promote ease of doing business in a big way; Local sourcing norms for FDI in single-brand retail eased.
 
 
 
 
As per the official statement, The Union Cabinet has relaxed FDI rules for foreign single-brand retailers and also permitted foreign investment in contract manufacturing and coal mining.
 
 
 
 
Union Minister Piyush Goyal said, "100% foreign direct investment (FDI) under automatic route in coal mining and associated infrastructure has been approved".
 
 
On FDI in single-brand retailing, the Cabinet has expanded the definition of a mandatory 30% domestic sourcing norm. It also allowed single-brand retailers to start online sales, waiving the previous condition of setting up a mandatory brick-and-mortar store.