Cabinet approved 100% FDI in single-brand retail via automatic route

Today, the cabinet has approved 100% Foreign Direct Investment (FDI) in single-brand retail via automatic route. Earlier it used to need Government approval if FDI was higher than 49%. In case of aviation and construction sectors too, the cabinet has approved 100% FDI through automatic route. The 100% clearance of FDI will quicken the clearance process and may attract many foreign players to invest in Indian market.