The Indian Economy Since 1991, 2nd Edition

Appendix 10

Economic Reforms, 2000–01

Industry

• Strong thrust to knowledge based industry by reducing customs duty on several items of IT, telecom and knowledge-based industries.
• Foreign direct investment permitted through automatic route in all industries except for a small negative list.
• Non-banking financial companies allowed to hold foreign equity up to 100 per cent if they are the holding companies. Their subsidiaries, which are the operating companies, also allowed to hold foreign equity up to 75 per cent.
• Dereservation of the garment sector from the purview of SSI reservation.

Infrastructure

• Securitization of dues of central sector power and coal utilities for assisting the SEBs in clearing dues.
• Domestic long-distance service opened ...