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Business News/ Politics / Policy/  Cabinet note on FDI in railways, construction sectors ready: Anand Sharma
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Cabinet note on FDI in railways, construction sectors ready: Anand Sharma

DIPP had proposed relaxation of FDI norms in the construction sector and 100% FDI in the railways

Union commerce and industry minister Anand Sharma. Photo: Ramesh Pathania/MintPremium
Union commerce and industry minister Anand Sharma. Photo: Ramesh Pathania/Mint

Mumbai: Union commerce and industry minister Anand Sharma on Monday said the cabinet note on allowing foreign direct investment (FDI) in the railways and construction sectors has been cleared.

“Yes, we have cleared the cabinet note on the FDI proposal in the railways and construction sectors," he said.

Sharma was in town to sign memorandums of understanding (MoUs) with the state government and other stakeholders for the Delhi Mumbai Industrial Corridor (DMIC) project. “As far as my ministry, the nodal ministries and others are concerned, we have completed all the processes. The proposal will take a final shape soon," he added.

The department of industrial policy and promotion (DIPP) had proposed relaxation of FDI norms in the construction sector and 100% FDI in the railways.

“We hope liberalisation of FDI in both the sectors will be a major step," Sharma said. PTI

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Published: 03 Mar 2014, 07:37 PM IST
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