'Govt to have more liberal FDI policy soon'
The Government will have a more liberal Foreign Direct Investment (FDI) policy in place soon as a review of the country's FDI policy will be finalised in the next few months.
By PTI |
MUMBAI: The Government will have a more liberal Foreign Direct Investment (FDI) policy in place soon as a review of the country's FDI policy will be finalised in the next few months.
"The results of the review will be in the direction of liberalisation, as was the case with similar policy reviews in the past," Department of Industrial Policy and Promotion Secretary Ajay Dua said here on Tuesday.
Speaking on the 'Investment Scenario in India' at the Plenary Session of a CII-sponsored seminar here, Dua outlined the growing attraction of India as an investment destination and identified six sectors that have tremendous potential.
These are automobiles and auto ancillaries, IT and IT-enabled services, pharmaceuticals, biotechnology, food processing and telecommunications.
Dua said FDI has started coming into the telecom sector in a big way now. In all these sectors, the basis for optimism about future growth stemmed from India's cost competitiveness and supply side strengths, including a large intellectual capital base and the expanding domestic market.
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