Govt notifies 100 pc FDI in tea sector

NEW DELHI, July 5 : Government today totally freed the tea sector including plantations for Foreign Direct Investment (FDI) with a condition that the foreign investor divest 26 per cent equity to its Indian partner within five years. A Government notification said all proposals for 100 per cent FDI in the sector would, however, require prior approval from the Centre. Opening up of the tea sector is part of government?s decision to further liberalise the FDI regime.