The Associated Chambers of Commerce and Industry of India (ASSOCHAM) welcomed further liberalized FDIs norms, permitting 74% FDIs in non-scheduled airlines and also broadbase scope of foreign investment in commodities exchanges.
In a statement issued here, the ASSOCHAM President, Mr. Venugopal N. Dhoot also complimented the government to increase FDIs in petroleum refining from 26% to 49% with necessary approvals from FIPB.
Mr. Dhoot said that these measures were long overdue and appreciated that the government has now accepted the demand of Indian Inc. which for long time has been seeking for aforesaid relaxations.
The ASSOCHAM Chief said that with new norms in place, substantial inflow of foreign investment will come into India with latest technology and human resource skills which is need of hour. The Chamber has also demanded that FDIs should be further broadbased in insurance and even in defence sector.
Associated Chambers of Commerce and Industry of India
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