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Highlights of FDI decisions
Saturday September 15, 2012 08:09:04 AM,
IANS
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Key features and implication of the
government's Friday decision of allowing Foreign Direct Investment
(FDI) in multi-brand retail and aviation sectors.
FDI in multi-brand retail
--51 percent FDI allowed in multi-brand retail
--States given discretionary powers of opting for it or not
--Government expects to generate funds, jobs and stimulus for
economy
--Government also expects to tame inflation from the move
--Farmers expected to get healthy returns for produce
--Less agriculture wastage due to the decision
--Consumer to benefit with more choices and competitive prices
--Foreign brands like Wal-Mart, Tesco and Carrefour eying to enter
India
--$450 billion retail market in India
FDI in single-brand retail
--100 percent single brand FDI allowed
--30 percent local sourcing mandatory
FDI in aviation
--Foreign carriers can now pick up 49 percent stake in India
airlines
--Airlines like Kingfisher and SpiceJet keen on foreign funds
-- With India one of the fastest growing aviation markets in the
world, airlines can gain international technical assistance and
expertise
--Transactions will be governed by SEBI norms
--Key positions in the airline will be held by Indian citizens
--Foreign nationals and equipment under the stake sale will be
scrutinised
--Total FDI in air transport sector from 2000-2012 at $434.75
million
FDI in broadcast
--Government decides to raise FDI cap to 74 percent
--FDI not hiked in TV news channels and FM radio
--Decision to benefit consumers with more choices and competitive
pricing
--FDI also allowed in Mobile TV
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