Duty Free Shops
The government has allowed 100% FDI in Duty Free Shops under automatic route. In the Defence sector, 49 per cent foreign investment has been allowed under the automatic route and anything beyond require the approval of Foreign Investment Promotion Board (FIPB). In the private banking sector, the government has introduced full fungibility of foreign investment with sectoral limit of 74 per cent, provided there is no change of control and management of the investee company. In the broadcasting sector, 100 per cent FDI has been allowed in DTH, teleports, mobile TV and cable networks. Of this, 49 per cent will be allowed under automatic route and beyond that will need FIPB nod.