Union Cabinet on Wednesday eased foreign direct investment (FDI) norms for various industries such as single-brand retail, coal mining, contract manufacturing and digital media.

The Centre also approved 100 percent FDI in contract manufacturing. Local sourcing norms were also eased for FDI in single-brand retail. Sourcing norms will now be for a block of five years.

“The Cabinet has liberalised FDI investment norms to enhance ease of doing business and attract investment,” he added.

The government has approved 26 percent FDI with the government’s approval in digital media

Union Cabinet on Wednesday eased foreign direct investment (FDI) norms for various industries such as single-brand retail, coal mining, contract manufacturing and digital media.

The Centre also approved 100 percent FDI in contract manufacturing. Local sourcing norms were also eased for FDI in single-brand retail. Sourcing norms will now be for a block of five years.

“The Cabinet has liberalised FDI investment norms to enhance ease of doing business and attract investment,” he added.

The government has approved 26 percent FDI with the government’s approval in digital media