Indian government issues notification on FDI

New Delhi: The government Thursday issued a formal notification on foreign direct investment (FDI) in retail, civil aviation, broadcasting and power exchanges, giving effect to the cabinet decision taken last week.

“The government today notified the cabinet/CCEA decisions on FDI in single brand retail, multi brand retail, civil aviation, broadcasting sector and power exchanges. The decisions were taken in the Cabinet and CCEA meetings on September 14, 2012,” an official statement said.

Among a slew of economic measures announced last week, the government had allowed FDI in the multi-brand retail sector, provoking widespread political opposition, which resulted in a nation-wide strike Thursday.

The government had Tuesday said the implementation of the policy remained a prerogative of the states.