NewsX: New FDI measures to save Rupee?

NewsX: In a big-ticket reform push the government decided to hike foreign direct investment in a dozen sectors. But it seems that the government is so desperate for foreign investments & more. So due to falling rupee that it has loosened FDI rules in 13 sectors.. Strategic sectors like Telecom, Defence and insurance Industries too thrown open The Telecom Sector is now totally open to the foreigners and is even allowed 100% ownership. Even in the vital defence sector, foreign companies will now get to own 49% of Indian companies through the Foreign Investment Promotion Board route.

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