Department of Industrial Policy and Promotion (DIPP) under the Union Ministry of Commerce and Industry on 27 August 2014 notified Press Note 8. Press Note 8 allows 100 percent Foreign Direct Investment (FDI) through automatic route in rail infrastructure of Indian Railways.
Press Note 8
With the allowance of FDI in Railways, the sectors in which FDI remains prohibited are:
(i) Lottery Business including Government/private lottery, online lotteries, etc
(ii) Gambling and betting including casinos, etc
(iii) Chit funds
(iv) Nidhi company
(v) Trading in Transferable Development Rights (TDRs)
(vi) Real Estate Business or Construction of Farm houses
(vii) Manufacturing of Cigars, cheroots, cigarillos, of tobacco or tobacco substitutes
(viii) Activities sectors not open to private sector investment: (a) Atomic Energy; (b) Railways operation other than in which the FDI is allowed
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Who: Press Note 8
What: Notified by DIPP
When: 27 August 2014
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