New FDI Road To Make In India
As a part of economic liberalization, India brought forth economic reforms during 1966 and 1985 in the crude form and 1991 in relatively refined form.
Application for all FDI cases except non-resident India Investment, 100% Export Oriented Units (EOUs) should be submitted to FIPB unit Department of Economic Affairs (DEA), Ministry of Finance. Now resident Indian and 100% EOUs, can submit their application to Secretariat for Industrial Assistance (SIA) in Department of Industrial Policy and Promotions (DIPP).
Although the new FDI policy allows 100% investment in many sectors but has restricted in few sector. These sectors are detailed under.
Sectors which allow 100% investments through Automatic Routes: The new Foreign Policy which introduced in July, 2016, introduced sector which allow 100% investment through automatic route. They are the following:
1) Agriculture & Animal Husbandry
2) Plantation Sector
3) Mining and Petroleum and Natural Gas excluding Titanium
4) Petroleum and Natural Gas (Conditions apply)
5) Broadcasting content services (conditions apply)
6) Airports (Conditions apply)
7) Air Kansas port Services
8) Other services under Civil Aviation Sector
9) Construction Development, Townships, housing, built up infrastructure
10) Industrial Parks