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India aims to throw open doors wider to foreign investors

Published on Jan 1, 2014 10:10 PM
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NEW DELHI (AFP) - India aims to throw open its doors wider to overseas investors in coming weeks, a minister said on Wednesday, as it seeks to spur a weak economy before the general election.

The government has already relaxed foreign direct investment (FDI) rules in such sectors as civil aviation, retail, telecommunications, defence and state-owned oil refineries as it tries to loosen the shackles on the still mainly inward-looking economy.

"The government will continue its endeavour for liberalising the FDI policy further in the coming weeks to ensure India retains its leadership position for attracting foreign investments," Commerce Minister Anand Sharma said.

India is struggling to increase its attractiveness to overseas business and to support growth with the election due by May.

 
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