FDI norms for e-commerce cos. relaxed, limit raised to 100%

NEW DELHI: The Union cabinet on Monday relaxed norms on foreign equity investments in the e-commerce, refining and power sectors, Parliamentary Affairs Minister Pramod Mahajan told reporters.

Mahajan said the federal cabinet had earlier in the day raised the limit for foreign direct investment (FDI) limit in the refining and electronic commerce sectors to 100 per cent from 49 per cent.

An upper limit of Rs 1,500 crore on foreign equity investment in the power sector had also been removed, the minister added.

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