India rolling out red carpet for foreign investors when techies are grappling with visa woes

When some of the most vibrant economies of the world are initiating a slew of protectionist measures to shield the constant job loss from the domestic market then Indian government is laying red carpet to woo the foreign investors. The country is passing through a crucial era when territorial dominance in the global economy is shifting and South East Asia is emerging as a major global market. All the western majors are eyeing this market and trying to explore all possible ways to deepen their presence in this region of the globe.
 
As domestic investors are taking nimble steps, so the government is going all out to impress the foreign investors. The Modi-led government is planning to invest heavily in building the infrastructure of the country. The country is looking at a  FDI of 1.5 trillion dollars to boost the infrastructure of the country. 

In the name of FDI:

1. Government will remove all red tapism from FDI framework
2. Several sectors could be put under automatic approval route
3. Sector regulators will ensure the FDI should be easily adjustable with policy and limits
4. Encourage FDI to build infrastructure of the country
5. FDI investment on a single brand crossing 49 percent will not need any prior nod
6. 30 percent local sourcing norm for single brand likely to be diluted  

Top officials of the government have already discussed the all the specifics of the new FDI regime. Apart from this, the finance ministry has separately moved a draft cabinet note for dismantling FIPB.

Finance minister Arun Jaitley said the government had undertaken substantive reforms in FDI policy over the past two years and more than 90% of the total FDI inflows were now through the automatic route. 

Jaitley said FIPB has implemented e-filing and online processing of FDI applications and had reached a stage where it could be abolished, reported a leading business daily.