India eases FDI rules for construction sector

India has eased foreign direct investment rules for the construction sector, the government said in a statement on Wednesday, in a move to attract more money into the country to build new hotels, housing and townships Financial Astrology Trading Tips

Under the new rules, foreign investment is now allowed in projects with a minimum built area of 20,000 square metres, down from a previous 50,000 threshold.

The minimum capital investment by foreign companies has been halved to $5 million, the statement said.

Previously, India allowed 100 percent foreign direct investment in real estate development but with strict conditions, including a lock-in period of three years during which the investment cannot be repatriated Commodity Trading Tips