Prime Minister Narendra Modi said on Monday that India was now the most open economy in the world for FDI with most sectors were under automatic approval route.
He said in a tweet that the amendments in FDI policy announced on Monday will promote ease of doing business and India was rated as number one FDI destination by several international agencies.
"India now the most open economy in the world for FDI; most sectors under automatic approval route. "India records highest ever FDI inflows at US$ 55.46 billion in financial year 2015-16. India rated as Number 1 FDI investment destination by several international agencies.
Now 100% FDI under Govt approval route for trading, including e-commerce for food products manufactured or produced in India.
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