The cabinet cleared a proposal allowing 100% foreign direct investment

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The cabinet cleared a proposal allowing 100% foreign direct investment

The cabinet cleared a proposal on Wednesday allowing 100% foreign direct investment (FDI) in single-brand retail via the automatic route, government spokesperson Frank Noronha said.

The cabinet also eased FDI rules for the aviation and the construction sectors, he said, but did not elaborate. A formal notification is expected later on Wednesday.