FDI guidelines on 16 February: Kamal Nath

FDI guidelines on 16 February: Kamal Nath
PTI
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First Published: Fri, Feb 13 2009. 08 22 PM IST

Updated: Fri, Feb 13 2009. 08 22 PM IST
New Delhi: The government will issue detailed guidelines on the changed Foreign Direct Investment policy on 16 February, commerce and industry minister Kamal Nath said on Friday.
On 11 February, the government had changed FDI policy excluding indirect investment through domestic company from overall sectoral ceilings.
Also See Guidelines for calculation of total foreign investment (PDF)
Guidelines for tranfer of ownership or control of indian companies in sectors with caps from resident Indian citizens to non-resident entities (PDF)
“Detailed FDI guidelines will be issued on 16 February,” Nath said at the sidelines of Ficci annual general meeting.
The Cabinet Committee on Economic Affairs had approved the changes in the guidelines for calculation of the total foreign investment, direct and indirect in the Indian companies.
Left parties have expressed apprehensions that excluding indirect foreign investment in sectors with caps could lead to FDI crossing the ceilings.
However, Nath on Thursday said the changes in FDI policy would not allow the back-door entry for foreign investment into retail sector and circumvention of the sectoral caps.
India does not allow FDI in multi-brand retail, but permits up to 51% in single brand retail and 100% in cash-and-carry wholesale trading.
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First Published: Fri, Feb 13 2009. 08 22 PM IST
More Topics: Economy | FDI | Kamal Nath | Retail | Investment |