Cabinet approves 100% FDI in single-brand retail

According to reports, the Union cabinet on Wednesday approved a proposal allowing 100% foreign direct investment (FDI) in single-brand retail via automatic route. At present, FDI up to 49% is permitted under automatic route in single-brand retail. The Cabinet has also approved investment up to 49% under the approval route in Air India in an attempt to facilitate the divestment process, reports added.

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