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India announces sweeping relaxation of FDI rules

Move targets civil aviation, defence and a string of other sectors as government looks to spur investment in world's second most populous country

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Prime Minister Narendra Modi tweeted that the "radical" changes would make "India the most open economy in the world for FDI" and were aimed at generating jobs for the country's millions of young people.

New Delhi

INDIA on Monday announced a sweeping relaxation of foreign direct investment (FDI) rules in civil aviation, defence and a string of other sectors as part of efforts to open up the economy.

The government freed up nine areas of the economy, including allowing foreign