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Cabinet relaxes FDI norms for single brand retail, coal mining

Aug 28, 2019 21:09 IST

The govt announced a slew of measures to ease foreign direct investments in India, to tackle the widespread economic slowdown. Union Minister Piyush Goyal announced the govt's decision to approve 100% FDI for coal mining and all associated activities via the automatic route. The Centre also relaxed local sourcing norms for FDI in single-brand retail providing relief to firms like Apple, Ikea and has also set the measuring of sourcing norms for a block of five years. Goyal also announced that domestic procurement for exports is included in the 30% local sourcing clause. Cabinet has allowed single-brand companies to start online sales and relaxed rules for brick and mortar store for ease of doing business. 

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