| I. It consists of sectors where automatic approval is granted for FDI (often foreign equity participation less than 100 per cent) |
| II. It consists of sectors where prior approval from the Foreign Investment Approval Board (FIPB) is required |
A) Only I
B) Only II
C) Both I & II
D) Neither I & II
Correct Answer: C
Solution :
The third category has two subsets - one consisting of sectors where automatic approval is granted for FDI (often foreign equity participation less than 100 per cent) and the other consisting of sectors where prior approval from the Foreign Investment Approval Board (FIPB) is required.
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