The government on Wenesday relaxed FDI rule for foreign single brand retailers and also permitted foreign investment in contract manufacturing and coal mining.
Briefing reporters on the decisions taken by the Union Cabinet headed by Prime Minister Narendra Modi, Commerce and Industry Minister Piyush Goyal said 100 per cent foreign direct investment (FDI) under automatic route in coal mining and associated infrastructure has been approved.
To boost domestic manufacturing, 100 per cent FDI in contract manufacturing under automatic route has been allowed, he said, adding that 26 per cent FDI has been allowed in digital media.
