Indian to open aviation, defense sectors to 100-percent FDI

In a drastic move, the Indian government said on Monday that it is making fresh liberalization of foreign direct investment (FDI) rules to open 100 percent of aviation and defense sectors.

Other sectors like food retail, private security firms and pharmaceutical production will also further open to foreign investors, said officials.

Other sectors in which FDI norms have already been relaxed include e-commerce in food products, broadcasting carriage services, private security agencies and animal husbandry.

"Now most of the sectors would be under automatic approval route, except a small negative list. With these changes, India is now the most open economy in the world for FDI," said an official statement. Endit