The Modi government has already shown its intensions from the past one year. This shows a clean status that, with the introduction of Modi Government, there has been an overall growth in the development of the country.
The Modi Government has retained the previous decision taken allowing foreign retailers to open multi brand stores with about 51 percent ownership.
Multi brand retail was started up for foreign direct investment, with an overall percent cap of 51% when the UPA government was in power.
The BJP had opposed this decision but the significant change came after coming into power.
The latest edition of the annual foreign direct investment document incorporates the policy changes effected over the past one year including sectors like defense, Insurance and Railways.
The 119-page new Compendium, which came into the effect recently mentioned all the existing FDI policy decisions along with the changes made in the past one year.
These changes are for the foreign direct investment cap to 49% from 26% earlier.
The department of Industrial policy and Promotion (DIPP), which is basically under the Ministry of commerce and industry, is a nodal agency on FDI policies. It combines and allocates all the policies into a single easy to read document for the investors to understand.
This would make the work easier for investors otherwise, they would have to go through various press notes issued by the industry departments and RBI regulations to understand the policy. The government updates the policies every year.
For insurance sector, the cap cannot exceed 49% including portfolio investments as well as foreign investments.
The FDI policies for the railways has been relaxed and the approval of 100 foreign investment projects in the field of construction, operation and maintenance of sub urban corridor projects and high speed trains have been passed.
FDI up to 100% will be allowed in the field of medication equipment and plants that are highly intended for humans as well animals.
Overall, Modi government has developed India to a much extent by making FDI as first develop India and retaining it to 51% overall.