India eases FDI rules for construction sector

New Delhi

INDIA has eased foreign direct investment (FDI) rules for the construction sector, the government said in a statement on Wednesday, in a move to attract more money into the country to build new hotels, housing and townships.

Under the new rules, foreign investment is now allowed in projects with a minimum built area of 20,000 square metres, down from a previous 50,000 sq m threshold.