Government announced sweeping changes in India's foreign direct investment policy.

Opening up the airline business to 100% FROM 49%ownership,

Relaxing rules for singlebrand retail and defence,

Putting most sectors on the automatic approval route.

The government's move comes as FDI inflows rose to $55.46 billion in FY16 from $36.04 billion in FY14, reflecting India's growing attractiveness as an investment destination and status as the world's fastest-growing major economy amid global uncertainty.

- Source "The Times Group"