76 foreign investment proposals have been cleared by India after inception of Foreign Direct Investment (FDI) policy in retail sector.
New Delhi, Feb 5/Nationalturk – At least 76 foreign investment proposals in retail sector have been cleared by India after inception of Foreign Direct Investment (FDI) policy in retail sector since February 2006.
“The Foreign Investment Promotion Board (FIPB) has approved about 76 proposals since inception of FDI policy on the retail sector from February 2006 upto December 2013,” India’s Minister of State in Ministry of Commerce and Industry Dr. E M Sudarsana Natchiappan told India’s upper house of parliament (Rajya Sabha) today.
He said the major sectors, other than retail, in which the FIPB has granted approvals so far include defence, broadcasting, print media, civil aviation, asset reconstruction companies, banking, commodity exchanges, courier services, construction development, telecom services, non-banking financial services, and brownfield pharma.
‘FDI inflows vary from year to year’
“FDI is largely a function of private business decisions which in turn are based on a number of factors including the global economic situation and the business environment in the recipient country. Therefore, FDI inflows vary from year to year depending upon these factors,” the minister said.
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