It may help firms like Apple to set up Wholesale audio cable types its own stores in India.The government increased the financial powers of the Foreign Investment Promotion Board (FIPB) to approve investment proposals worth Rs 5,000 crores from the present limit of Rs 3,000 crores.In the retail sector, a single entity will be permitted to undertake both single-brand retail trading (SBRT) and wholesale, but will have to ensure that conditions of FDI policy on wholesale, cash and carry and SBRT have to be complied by both the business arms separately.
A foreign investor will now be permitted to exit and repatriate foreign investment before completion of project under the automatic route, provided that a lock-in-period of three years, calculated with reference to each tranche of foreign investment, has been completed.The government hiked FDI in cable networks, direct to home (DTH), mobile TV, HITS (headend-in-the sky Broadcasting Service) and teleports to 100 per cent from the current 74 per cent. As for the uplinking of non-news and current affairs TV channels, 100 per cent FDI has been now permitted under the automatic route. It has now been decided that the sourcing requirement has to be reckoned from the opening of the first store. In the case of terrestrial broadcasting FM (FM radio), the foreign investment limit has been raised from 26 per cent to 49 per cent under the approval route. Currently, proposals over Rs 3,000 crores were needed to be cleared by the Cabinet Committee on Economic Affairs (CCEA).
