The Cabinet on January 10 approved 100 percent FDI or foreign direct investment through automatic route in single-brand retail. Currently, FDI up to 49 percent is permitted under automatic route in single-brand retail but beyond that limit requires government permission.
The government has also approved investment up to 49 percent by foreign airlines in Air India under the approval route.
“Foreign investment(s) in Air India including that of foreign Airline(s) shall not exceed 49% either directly or indirectly. Substantial ownership and effective control of Air India shall continue to be vested in Indian National,” said the government release.