Cabinet Approves 100% FDI In Single Brand Retail Via Automatic Route: Sources

The Union Cabinet today approved a proposal to allow 100 per cent FDI or foreign direct investment through automatic route in single brand retail, sources told NDTV. Currently, FDI up to 49 per cent is permitted under automatic route in single brand retail but beyond that limit, government nod is required. The Union Cabinet today reviewed foreign direct investment policy in certain sectors with a view to attract more overseas funds.