India announces plans to open up foreign investment
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New Delhi
INDIA'S government on Tuesday announced plans for a sweeping liberalisation of its foreign direct investment (FDI) regime, as Prime Minister Narendra Modi seeks to counter accusations his reform drive is stalling.
The government said it would undertake a raft of reforms to open up 15 areas of the economy, including lifting the caps on FDI in the critical defence, banking and construction sectors.
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