The Centre has moved a step closer to scrapping a cap on foreign investment in commercial coal mining, a person with direct knowledge of the matter said, as part of efforts to boost economic growth.
The proposal is being discussed at a Wednesday meeting of the cabinet, led by Prime Minister Narendra Modi, and a decision may come within hours, the person said, asking not to be identified because the discussions are private. The change would allow overseas miners such as BHP Group Ltd. and Glencore Plc. to own 100 per cent of mining companies. Other proposals under consideration include raising investment limits in digital media and easing rules for retailers selling a single brand, the person said, without giving details.
