Foreign

investment is seen as key to boosting growth in India's slowing economy

has further eased rules on foreign direct investment in a range of industries in an attempt to support the sliding currency and boost growth.

India

The

move will allow 100% foreign ownership in the telecommunications industry, up from 74% at the moment.

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September last year, the government announced the opening up of India's huge retail sector to foreign supermarkets, which led to protests in the streets from small shop owners.

The

companies such as Britain's Vodafone Group and Norway's Telenor ASA to operate in the country without the need to partner with an Indian company

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the defense sector, the cap for foreign direct investment will remain at 26% but proposals beyond that will be assessed on a case-by-case basis.
say attracting investors is key to bolstering India's economy, which expanded at its slowest pace in a decade. Indian rupee has fallen in value to record lows in recent weeks, hitting an all-time low of 61.21 against the US dollar.

Economist

The