October 6, 2015
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FDI liberalisation expands sectoral openness and streamlines approvals to attract foreign investors and boost manufacturing.
The address sets out a policy package to attract foreign investment and expand manufacturing under Make in India, detailing FDI liberalisation across sectors, regulatory deregulatory measures and extended licence validity, notification of Alternative Investment Fund regulations, capital gains rationalisation for REITs, and modifications to permanent establishment norms. It highlights expedited clearances, deferral of General Anti-Avoidance Rules implementation, introduction of the GST Bill, work on a new bankruptcy code, creation of an India Investment and Infrastructure Fund, issuance of Tax Free Infrastructure Bonds, and commitments to a transparent tax and Intellectual Property Rights framework.