The stage is set for foreign investors to invest in India's commodity exchanges. The Manmohan Singh Cabinet will give formal approval this week on allowing foreign investment in commodity exchanges.
Officials said allowing foreign direct investment in commodity exchanges on the lines of stock exchanges is one of the items to be discussed in this week's Cabinet meeting, scheduled for Wednesday.
Soon after the Cabinet approval, the Reserve Bank of India will issue guidelines on this shortly. Last year, RBI had allowed foreign investment in the Indian stock exchanges.
The RBI guidelines with regard to investment in the commodity exchanges are expected to be based on the recommendations of the consumer affairs ministry submitted a month ago.
This could be on the lines of last year's RBI decision to allow foreign investment up to 49
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