The Government of India (GoI) has amended its existing policy on foreign direct investment (FDI) and has allowed: 100% FDI in single brand product retail trading by only non-resident entity whether owner of the brand or otherwise; 51% FDI in multi-brand retail trading under government route; 49% FDI by foreign airlines in the capital of Indian companies in Civil Aviation Sector operating scheduled and non-scheduled air transport, under automatic/ government route; revised the FDI limits for companies engaged in providing Broadcasting Carriage Services under the automatic/Government route; and 49% FDI in Power Exchanges in registered under the Central Electricity Regulatory Commission (Power Market) Regulations, 2010, under the Government route.

Telecom tribunal TDSAT has rejected Reliance Communications’ plea against the guidelines issued by the government for the proposed auction of spectrum.  Central Electricity Regulatory Commission (CERC) has notified the Standards of Performance of Inter-State Transmission Licensees Regulations, 2012 to provide an efficient, reliable, coordinated and economical system of electricity transmission.  GoI has relaxed overseas borrowing norms by Indian financial institutions and companies. Further, companies with low credit rating will be able to raise foreign funds using credit enhancement facility if a third party assures the lender that he will be compensated if the borrower defaults.  Further, RBI has released guidelines pertaining to the use of ECBs for refinancing bridge loans raised to import capital goods.