Cabinet clears 100% FDI in telecom, 49% in single brand retail

 To boost the sluggish economy and desperately get back to reform, today Government of India announced FDI relaxation in several sectors including telecom, insurance and defence sector.

Union Cabinet on Thursday approved 100% FDI in telecom from present 74%, it raises FDI cap from 26% to 49% in single brand retail under the automatic and beyond through the Foreign Investment Promotion Board (FIPB) route. It also allowed 100% FDI in courier services and 74% in credit information sector under automatic route.

Prime Minister Manmohan Singh has no other choice than to take some quick decision to bring back the economy in right route. 

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