[INDIA REAL ESTATE NEWS] Good morning everyone I am Rumi Dhar from Kama Group.|
Here I have important INDIA real estate news to share with you which is as mention under.
India is considering easing foreign investment rules for sectors ranging from construction to
animation to lure overseas capital needed to create jobs in an economy cratered by the
pandemic, people with knowledge of the matter said.
A proposal to allow limited liability partnerships to invest in the construction of townships,
roads, hotels and hospitals is under discussion, the people said, asking not to be identified
citing rules. A plan to allow 100% foreign direct investment in animation, visual effects,
gaming and comics sector may also find mention in the government’s budget to be presented
Feb. 1, one of the people said.
Allowing LLPs will open a new investment avenue at a time when the government of Prime
Minister Narendra Modi is struggling to revive the economy from its worst annual contraction
on record and generate employment in a country still shedding jobs months after the
pandemic-induced lockdown. The government estimates India will require investment worth
$777 billion across infrastructure for development by 2022.
A finance ministry spokesman did not answer a call made to his cellphone outside of business
The construction sector received FDI inflows worth $25.7 billion between April 2000 and
September 2020, government data show. The relaxation in rules is also likely to help the
Modi government get closer to its target of creating affordable housing for all in urban areas
by 2022 and building 100 smart cities.
Currently, foreign investors have to meet certain conditions for investing in the construction
development sector such as a three year lock-in period before exiting. Allowing LLP firms will
afford the sector ability to receive foreign investments more easily, the people said.
Read more at: https://realty.economictimes.indiatimes.com/news/industry/india-considers-easing-rules-to-attract-fdi-in-construction-sector/80467213
Have a nice day