New Delhi: The Centre Cabinet meeting took major decisions on FDI. The intention of the Government is to encourage foreign investment. so that investment opportunities  can be increased. The government has approved the Sugar Export Policy for the 2019-20 season in view of the surplus stock. Union Minister Prakash Javadekar said about 60 lakh tonnes of sugar will be exported in the current financial year. Javadekar also said that a subsidy of 6268 crore rupees will be given to sugarcane farmers and the sugar export subsidy will be directly credited to the farmers' account.

Besides, 26 per cent FDI in digital media was also approved at the Union Cabinet meeting. Foreign investment in digital media will also bring new job opportunities along with the expansion of the sector. Piyush Goyal said, the government is trying to bring in more and more FDI. A decision has been taken on 100 per cent FDI in coal mining.

He said the government has put special emphasis on FDI in the past five years, which has resulted in 286 billion dollars of FDI in India in the last five years. Goyal also talked about 100 per cent FDI in contract manufacturing. Besides, 26 per cent FDI in digital media has been approved. Speaking at the press conference, Goyal said FDI conditions in single brand retail will be subsidized. Cabinet says mandatory 30 per cent local sourcing on FDI in single brand retailing. The meeting also approved the exemption to open online stores earlier.

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