Appointed as finance minister under prime minister PV Narasimha Rao, Singh enacted slew of reforms that broke shackles of overregulation & protectionism.
100% FDI will now be allowed in manufacturing of satellite components without need for govt approval. Up to 49% will be allowed automatically in launch vehicles and spaceports.
The FDI policy reform is expected to boost employment and will allow companies to set up manufacturing facilities in the country, the government said in a statement.
No nation other than China can negotiate one-on-one with Trump on an equal footing. That’s why the middle powers who so far formed the core of multilateral bodies now feel orphaned.
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