New FDI policy by month-end

The government will announce changes in foreign direct investment (FDI) policy by the end of this month, focusing on sectors that generate maximum jobs, commerce and industry minister Kamal Nath said. “We are in the process of consultation between ministries, and I think in the course of this month the policy will be announced,” he said.

Nath had earlier said that government is looking at how FDI can be used in generating employment. Sources said the Commerce Ministry is awaiting a report from economic think-tank ICRIER on the implications of FDI on small and retail traders.