India to hold briefing on FDI rules says official



New Delhi :  A senior government official was due on Monday to hold a briefing on foreign direct investment, as reports circulated that Prime Minister Narendra Modi would ease rules on investing in sectors such as airlines and pharmaceuticals.

Officials met earlier at the prime minister's office to discuss  FDI changes that appeared timed to regain the initiative after the surprise announcement by central bank chief Raghuram Rajan at the weekend that he would not seek a second term.

The last time the government announced a loosening of India's complex FDI rules was following a shock defeat for Modi's Bharatiya Janata Party in a state election last autumn.