WHILE replying to a question in the Parliament,
the Minister of State for Commerce and Industry, Mr J M Scindia, said that
India is poised to become the second
most attractive destination for FDI in 2010-12, as per UNCTAD’s World
Investment Report, 2010. The projection made in the report is based on the
survey conducted among Trans National Corporations (TNCs).
Government
has put in place an investor-friendly policy on FDI, under which FDI, up
to 100%, is permitted on the automatic route, in most sectors/activities.
This policy is reviewed, on an ongoing basis, through a consultative process
and significant changes have been made in the policy regime, in recent times,
to ensure that India remains increasingly attractive and investor-friendly.
The FDI policy is now available in the form of a consolidated document, as
Circular 2 of 2010, effective 1 October, 2010, issued by Department of Industrial
Policy and Promotion.
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