New Delhi: The central government has approved FDI in several sectors to boost foreign investment in the country. The government took this step to curb the declining employment opportunities in the country. The government relaxed the rules regarding FDI in coal mining, contract manufacturing and single brand retail. This decision of the government has been notified by the Department of Industry and Internal Trade Promotion (DPIIT). It may be noted that DPIIT comes under the Ministry of Commerce and Industry and deals with matters related to FDI. Recently, the government had said about 26 percent FDI in digital media, which has been notified.
Some issues have been raised by some industries and experts on this move of the government. Explain that on August 28, the government had allowed 100 percent FDI in the coal mining and contract manufacturing sectors. In addition, the purchase rules for single brand retail companies were relaxed. In the coal sector, foreign companies can now invest 100 percent in coal mining and sale by themselves.
This decision will depend on the provisions of the Coal Mines (Special Provisions) Act, 2015 and the Mines and Minerals (Development and Regulation) Act, 1957. The government has allowed 100 per cent FDI in contract or contract manufacturing. Apart from this, 26 percent FDI is allowed for uploading news and latest developments through digital media after the approval of the government. The government hopes that these decisions will help in tackling the slowdown in the country's economy.
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