Govt plans to put 98% sectors for FDI

Government is planning to put 98 per cent of sectors, which are open to foreign investments, under the automatic route so that businessmen won´t need to visit the Finance Ministry or ´Udyog Bhavan´ for any approval, a top official said.
´Our belief is that nobody should come to government. So we get 92 per cent of FDI coming through automatic route. We are targeting that almost 97-98 per cent must come through automatic route,´ Secretary in the Department of Industrial Policy and Promotion Amitabh Kant said.
He also said that the government is taking several steps to improve ease of doing business both at the central and state level to attract foreign investors.