Government is considering further relaxing foreign direct investment (FDI) norms in several areas, including trading, with an eye on more inflows.
The commerce and industry ministry is already on the job in this direction, sources said. They said there are certain sticking points in single brand retail trading that need to be reviewed.
In this segment, a big retailer has made a plea to the Department of Industrial Policy and Promotion (DIPP) to look into the issue of putting the maximum retail price labels and re-labeling of goods.
The government may also consider easing certain norms in the information and broadcasting sector, among others, they added. It had relaxed the FDI policy in November last year.
In June this year, it lifted certain restrictions in over a dozen sectors, including civil aviation, food processing, defence and pharmaceuticals. DIPP Secretary Ramesh Abhishek has recently stated that the government is trying to address specific policy issues in various sectors.
“We are also trying to address specific policy issues in various sectors. We have identified a number of them that remain despite liberalisation in FDI (policy). There could be issues in various sectors,” he had said. FDI in 2015-16 grew 29 per cent to USD 40 billion.