LIVE: Govt approves 100% FDI in aviation, defence, here are the reactions

As per the Government's release, most of the sectors now will have 100 per cent FDI except a few.

By: Express Web Desk | New Delhi | Updated: June 20, 2016 6:46 pm
FDI, 100% FDI, FDI 100%, 100% Fdi defence, 100% FDI aviation, 100% FDI india, 100% FDI broadcast, narendra modi, modi FDI, 100% FDI BJP Prime Minister Narendra Modi held a high-level meeting where he reviewed the country’s FDI policy on Monday

The Union government on Monday made some major changes to FDI policy with the objective of providing major impetus to employment and job creation in country.

Monday’s amendments to the FDI Policy are meant to liberalise and simplify the FDI policy so as to provide ease of doing business in the country leading to larger FDI inflows contributing to growth of investment, incomes and employment.

With this move, the government has allowed 100 per cent FDI in defence, aviation, pharmaceuticals (74%) and broadcast services.

WATCH VIDEO |Modi Govt Liberalises FDI Regime: All You Need To Know

 

Here is how the markets shot up after the announcement:

4:32 pm Bold & transformative new FDI policy will ensure India will retain its position as world’s top FDI destination, for long time: Raman Singh

4:31 pm

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4: 31pm

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3.10 pm: Market reaction to the government’s new FDI policy

Aviation:

SpiceJet 68.70 +6.43%

IndiGo 1048.35 +3.44%

Jet Airways 582.70 +5.96%

Pharma:

Brownfield Pharma: Biocon 727.10 +1.39%

Broadcast:

Dish TV 96.20 +2.56%

Defence:

Rel Defence 66.65 +8.64%

Walchandnagar 153.50 +5.21%

This move by the government has attracted different reactions from political leaders and intellectuals. Here are some of them:

3:20 pm: 

Major reason for FDI policy changes is to create more jobs: Das

3:10 pm: Aviation Secretary to CNBC-TV 18 – Hike in FDI cap will increase competition in the sector

3:00 pm: 

2:30 pm:

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