TORONTO, ONTARIO--(Marketwire - Sept. 18, 2012) - Last Friday, the Indian government passed a series of reforms to re-establish its economic liberalization agenda and attract new sources of foreign direct investment (FDI).
These include: opening India's multi-brand retail sector to FDI, and increasing equity caps in civil aviation, broadcasting, and power trading exchanges.
After a long wait, foreigners will now be allowed to own 51% of supermarket and department store chains.
Foreign airlines can now buy a 49% stake in Indian private airlines. FDI in all broadcast-carriage services has been raised to 74%, up from 49% previously.
Coinciding with these announcements, the Canada India Business Council (C-IBC) is pleased to be hosting both:
- Saumitra Chaudhuri: A member of the Economic Advisory Council to the Prime Minister as well as the Planning Commission, he was among the principal authors of India's latest Five Year Plan.
Talk & Lunch on September 18, 2012
- Mohammad Haleem Khan, Secretary, Department of Disinvestment: Showcasing India's $5 billion privatization target, he is in Toronto to outline specific opportunities for Canadian institutional investors.
Talk & Lunch on September 20, 2012
"These announcements are very good news at a crucial moment for India," says Rana Sarkar, President & CEO of the Canada-India Business Council.
"It sends a long awaited signal to global markets that India is ready to kick-start reform processes, and the arrival of both Mr. Chaudhuri and Mr. Khan serves to further underscores India's outreach efforts."