Sharemasterindia.com: Shares in realty and construction companies jumped on Thursday, a day after the government relaxed rules for foreign direct investment in construction development. The new rules make it easier
for foreign companies to invest in India and many projects will now
qualify for FDI through automatic route (no FIPB clearance will be
required), analysts say.The government wants to open up the construction sector to attract investments so that it can deliver on Prime Minister Narendra Modi’s promise to create 100 “smart cities” in India by 2020.
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