After the formation of a new government in the country, FDI rules can be liberalized in many sectors. Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Rajesh Kumar Singh said India has recently relaxed foreign direct investment (FDI) rules in the space sector and there is a possibility that this will happen once the new government comes to power. Relaxation in FDI norms may be given in some other sectors.
He said that over the last few years, India has liberalized FDI policy in many sectors. India has one of the most liberal FDI policies in the world and in fact is more liberal than many South East Asian countries. Speaking at the recently held annual business summit of CII, Singh said that recently the FDI norms in the space sector were eased and it is very likely that under the new government, we will see whatever sectors are left and Where some liberalization is possible, efforts can be made for it. Lok Sabha elections are going on in the country and counting of votes is to take place on June 4.
According to government data, FDI in India declined by 13 percent to US $ 32.03 billion in April-December 2023. This was mainly due to lower investment in computer hardware and software, telecom, auto and pharmaceutical sectors.
