Title INDIA - ECONOMY - Foreign Direct Investments (FDI) Date-wise Events June 20, 2016: FDI norms eased in Aviation, Pharma and Defence sectors. Under the new norms, 74 per cent FDI would be allowed in pharma sector under the automatic route, which means that investors will not need government's approval to invest up to 74 per cent in existing companies. Currently, FDI up to 100 per cent is permitted in new projects in the pharmaceutical sector. The government also allowed 100 per cent FDI in scheduled airlines. Foreign airlines are currently allowed to own only 49 per cent in a local airline. In the crucial defence sector, foreign companies can own 100 per cent equity, according to the latest rules. The government had last year relaxed FDI norms in about dozen sectors, a move that helped FDI flows to hit an all-time high of $40 billion in 2015-16.

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