PM Modi defers FDI review as Arun Jaitley gets busy with Opposition

Up to 100% automatic FDI is allowed in construction development projects

The government is learnt to have ‘’postponed’’ a high-level meeting headed by Prime Minister Narendra Modi for reviewing issues related to foreign direct investment (FDI) on Friday amid a buzz that the Centre was considering relaxing FDI caps in sectors such as multi-brand retail and the print media.

The meeting was called to review the progress of FDI approvals across sectors after the recent abolition of the Foreign Investment Promotion Board (FIPB), the road map for alternative mechanisms, as well as matters concerning foreign investors in construction and real estate, a source in the know told Business Standard. 

He dismissed as “speculative”