India may progressively reduce roadblocks for foreign direct investment in both computer hardware and software sectors. It is considering allowing 100% foreign-owned firms in this sector automatically. Investors will be able to avoid the delays associated with the Foreign Investment Promotion Board and have to inform the Reserve Bank of India of the monies brought in and the consequent level of equity. The scope of these norms cover electronic hardware technology parks, software technology parks and export-oriented units in this sector.
INDIA TO ALLOW 100% FOREIGN INVESTMENT IN IT FIRMS
