“The government will examine suggestions of further opening up FDI [foreign direct investment] in [the] aviation, media and insurance sectors in consultations with stakeholders,” Sitharaman said. She said 100 percent foreign ownership would be permitted for insurance intermediaries and local sourcing norms would be eased for FDI in retailers selling a single brand. India currently allows FDI in single-brand retail, but mandates investors to source locally 30 percent of the value of good purchased. “Nothing concrete has been announced so far, that disappointment is reflecting in markets,” SMC Global Securities assistant vice president of research Saurabh Jain said. India’s economy is also running into global headwinds with growth weighed down by trade disputes and protectionism.

Source: Taipei Times July 05, 2019 15:56 UTC