India Eases Foreign Direct Investment Rules to Spur Expansion
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India eased foreign-direct investment rules on Monday, bolstering sentiment after a weekend announcement by Reserve Bank of India Governor Raghuram Rajan that he’ll leave the central bank dented confidence.
The government trumpeted the changes in a statement, saying India is "now the most open economy in the world for FDI" and that investment applications in most sectors can get automatic approval rather than requiring a green light from the administration. The last major changes in the regulations came in November 2015, according to the statement.