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Negative list for FDI soon: Maran

Our Bureau

NEW DELHI, Jan. 18

A NEGATIVE list relating to foreign direct investment (FDI) is expected to be announced by the Government within a fortnight. This would imply that barring a few sectors such as defence, atomic energy, narcotics etc., FDI in the rest of the sectors would be permitted through the automatic route.

This was indicated by the Union Minister for Commerce and Industry, Mr. Murasoli Maran, during his meeting with the visiting business delegation from Singapore, led by Mr. S. Chandra Das, Chairman, India Business Group Steering Committee.

Members of the business delegation from Singapore evinced keen interest in investing in India in various sectors such as telecom, information technology, computer software and real estate development. The discussions focussed on ways and means of strengt hening bilateral relations and attracting more FDI from Singapore into India.

Mr. Maran highlighted the existing business and investment opportunities and felt that there was further scope to enhance the number of joint ventures operating in the country. Currently, Singapore ranks 14th in terms of approved FDI inflow in India.