The Union govt eased FDI rules on Tuesday for several industries, including insurance and telecoms, although some of liberalisation measures fell short of expectations.The Union govt eased FDI rules on Tuesday for several industries, including insurance and telecoms, although some of liberalisation measures fell short of expectations.
MUMBAI/NEW DELHI: India's relaxation of foreign investment rules, aimed at drawing funds needed to turn around slowing economic growth and support a crumbling rupee, barely lifted markets on Wednesday due to doubts whether long-term inflows would materialise anytime soon.
Prime Minister Manmohan Singh eased FDI rules late on Tuesday for several industries, including insurance and telecoms, although some of the liberalisation measures fell short of expectations or came with caveats.
The long-pending move to increase the foreign direct investment (FDI) cap in insurance from 26 to 49 percent, for example, still needs approval from parliament, where a bill has been stuck for months.
Prime Minister Manmohan Singh eased FDI rules late on Tuesday for several industries, including insurance and telecoms, although some of the liberalisation measures fell short of expectations or came with caveats.
The long-pending move to increase the foreign direct investment (FDI) cap in insurance from 26 to 49 percent, for example, still needs approval from parliament, where a bill has been stuck for months.
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