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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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 companies to wholly own local airlines as it looks to spur investment in the world's second most populous country.
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