Associated Press Wire

Jun 20, 8:46 AM EDT

India announces easing of foreign direct investment rules


Photo Gallery
'Slumdog' kids return to Mumbai's wretched slums
Latest News
World Bank to back India's solar power initiative

5 held for planning attacks on Indian religious, other sites

Naga tribal rebel leader in northeast India dies at age 87

India irked by China stalling its nuclear group membership

Finance minister says India wants more manufacturers

Multimedia
A district summary of the Beige Book
Measuring economic stress by county nationwide
Mall malaise: shoppers browse, but don't buy
Unemployment by the numbers
Family struggles with father's unemployment
Saying an affordable goodbye
Hard times hit small car dealer
Latest Economic News
Puerto Rico faces historic default as rescue bill approved

UK stock index above pre-vote level: Crisis over? Not likely

Eurozone inflation back above zero in June, but still low

German jobless rate edges below 6 percent in June

US economy grew at slightly faster 1.1 percent in Q1

Spain's economy grew estimated 0.7 pct in second quarter

South Korea cuts outlook, plans stimulus package

How Clinton's and Trump's economic prescriptions clash

Why Brexit endangers global unions that helped West prosper

British bracing for world economy to punish UK for 'Brexit'

Interactives
Greece's Debt Threatens to Spread
State budget
gaps map
Auto industry problems trickle down, punish Tennessee county
Women give old Derby hats a makeover in tough economy
S.C. town deals with highest unemployment in South
How mortgages were bundled and sold as securities
Tracking the $700 billion financial bailout
Tracking the year's job losses
State-by-state foreclosures since 2007
Credit crisis explained
Presidents and their economic legacies
Lexicon of the financial crisis
Americans' addiction to debt

NEW DELHI (AP) -- India has announced radical changes in its foreign direct investment rules to attract overseas investment into its aviation and defense industries.

Defense and airlines industries can now be 100 percent foreign owned, after previous rules allowed 74 percent and 49 percent, respectively. Investments in pharmaceuticals, food products and single-brand retailing were also liberalized.

The prime minister's office announced the changes Monday, saying the opening up of key sectors of the economy would give an impetus to job creation and infrastructure development.

The changes were meant to liberalize and simplify the foreign direct investment policy to make it easier to do business in India, the prime minister's office said in a statement.

The foreign investment changes follow the announcement of a new aviation policy last week.

© 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use.