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Government to revamp FDI regime by March

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The government is planning to make some wide ranging changes in the FDI norms to allow foreign investors to invest stakes in commodity exchanges, raise ceilings on air transport services and retail and amend the clause necessitating foreign petroleum companies to disinvest 26 per cent of their Indian subsidiaries in five years.

Earlier the government had said that it is thinking of increasing the FDI cap in retail, which at present permits only 51 per cent investment in single-brand retail and 100 per cent in wholesale cash-and-carry. The government has already announced its intention to permit FDI in multi-brand retail of sports goods, stationery and electronics.

Sources have confirmed that the government is also considering yearly reviews of FDI policies in all sectors instead of one sector a month at present.

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