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Automatic FDI route to close for 10 sectors

Keen to beef up national security, the government plans to slap new entry route restrictions on foreign direct investment (FDI) beyond 49% in eight specified “sensitive” sectors, including airports, seaports, pharma, petroleum refining and gas pipelines. In all these sectors, 100% FDI through the automatic route is permitted now.Once a stricter policy is in place, proposals to expand FDI beyond 49% in these sectors would have to be vetted by the Foreign Investment Promotion Board (FIPB), official sources said.

Source: Indian Express

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