Union Cabinet Approved Proposal to Amend FDI Policy in Construction and Real estate on 29th October 2014
Union Cabinet on 29th October approved the proposal to Amend FDI Foreign Direct Investment Policy in Construction and Real Estate sectors. The proposals came in the Backdrop of depleting FDI inflows in construction and real estate.
Union government decided to use relaxed rules for FDI in the
construction sector by reducing minimum built-up area as well as capital
requirement and easing the exit norms to boost the construction and
real sector.
Earlier in 2005, although 100 percent foreign direct investment was
allowed in townships, housing and built-up infrastructure and
construction developments, the government imposed certain conditions.
The construction sector received FDI worth 23.75 billion US dollar or 10 percent of the total FDI attracted by India during the period between from 2000 to 2014.
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