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Thursday, Jan 29, 2004
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 Industry & Economy - Foreign Direct Investment


Change in FDI norms notified

Our Bureau

New Delhi , Jan 28

THE Government has notified the revised foreign direct investment (FDI) norms, allowing 100 per cent FDI in petroleum product marketing through the automatic route.

FDI up to 100 per cent is permitted on automatic route in oil exploration in small and medium sized field, exploration of oil and the discovered field of national oil companies, according to a Government press note.

Also, 100 per cent FDI is allowed in the automatic route for petroleum product pipelines and natural gas/LNG pipelines, the press note said. The Government also notified allowing 100 per cent FDI in printing scientific and technical magazines, periodicals and journals. Today's notification gives effect to the decisions taken by the Union Cabinet on January 15.

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