I GOVERNMENT GIVES MAJOR PUSH TO FOREIGN DIRECT INVESTMENT
THROUGH RADICAL CHANGES IN POLICY
In line with the Government's focus in respect of "ease
of doing business" focus and the intent to further simplify
the regulations governing foreign direct investment
("FDI") in the country, the decision to
liberalize FDI Policy was taken at a high-level meeting chaired by
the Prime Minister on June 20, 2016.
Pursuant to the decision, Press Note No. 5 (2016 Series)
("Press Note") was released on June 24,
2016, reviewing and amending the FDI Policy. Some salient points
emerging from Press Note are briefly captured below.
Animal Husbandry
FDI in animal husbandry (including breeding of dogs),
pisciculture, aquaculture and apiculture sectors is now more
liberalized by removal of certain conditionalities. It may be noted
that FDI upto 100% under automatic route is permitted in such
sectors.
