Foreign investments in most sectors likely to be put on automatic approval route; sourcing norms for single-brand retail may be eased.The proposed dismantling of Foreign Investment Promotion Board, which vets proposals involving fund inflows from overseas, is likely to be bundled with related policy reforms. On top of the list is doing away with prior government approval for investments in most sectors, including single-brand retail, which could see dilution of the 30% domestic sourcing clause. “Contours of the proposed changes to the foreign direct investment policy are almost ready...Non-strategic sectors should be on automatic,“ said a senior government official privy to discussions on the matter. With domestic private investment not picking up, the government is largely counting on foreign funds to speed up infrastructu re creation. India needs an estimated $1.5 trillion over 10 years to build infrastructure such as roads, airports and power projects. The latest round o