FDI a boost for sectors like multi brand retail, civil aviation-India News and Travel Times Provides India-centric and other News and Features

The decision of the Indian Government to ease FDI norms in an array of sectors like multi brand retail, civil aviation, power trading exchanges and broadcasting is a tremendous boost not only to the sectors in question, but is also a huge mood lifter, Chandrajit Banerjee, Director General, CII, said in a press release. According to a statement by Banerjee, the despondency that had set in owing to absence of policy announcements would certainly be addressed to some extent. Global and domestic perceptions would also change and CII is hopeful that the rating agencies would take due note of these announcements as well, he said. Banerjee said the move to increase FDI caps in these sectors will help mobilise capital into these sectors, which the country needs, and would also improve the current account deficit situation, which was becoming alarming. Purely, from a policy point of view as well, yesterday's announcements followed by today's are an indication that reforms are back, he added.

FDI decision tremendous boost for retail, aviation sectors: CII