In a meeting with the commerce minister, India Inc hammered Sharma on the collapse of investments, structural nature of the current account deficit and stagnant growth in agriculture.
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According to sector officials and watchers, the funding (among the largest so far in the segment) from its existing investors -- Naspers, Accel Partners, Tiger Global and Iconiq Capital -- might be a sign of confidence they have in the company but it's still unsure if it will be enough for Flipkart to turn a corner and become profitable.
A panel headed by Economic Affairs secretary Arvind Mayaram had suggested FDI limit be raised to 49 per cent in almost all sectors through the automatic route.
Scott Price is learnt to have conveyed to Sharma that Walmart remained committed to the India market.
Efforts to normalise trading relations expected during the first such meet on Saturday
Clamping down on the delays in repatriating foreign exchange earnings, the Reserve Bank of India (RBI) has tightened norms for special economic zones (SEZs), asking them to realise and bring back full value of goods and services to India within a year from the date of export.
Four new retailers from US, two from Germany may have shown interest in setting up shop in India.
Existing units stay operational; those approved may not be notified, land could be used for other purposes
All companies that have 50% or more employees from outside the US to pay a higher visa fee of $10,000 for each such staffer, against $4,500 at present.
The Bangladeshi government has clearly said it will not give access to the port unless India resolves the Teesta river issue.
A high-powered business delegation from the UK, led by the British cabinet minister, Eric Pickles, is arriving in India on Monday to explore opportunities in infrastructure and water management in Kolkata and Kochi.
An official said next week, the Department of Industrial Policy and Promotion was likely to issue clarifications sought by the sector on the government's multi-brand retail policy.
Italian shoemakers want lower cost base in an expanding market and India fits the bill, apart from its own growing domestic demand
Indian banks operating there are required to meet very high qualifying standards in order to do business.
Afghanistan President Hamid Karzai left India with an honorary doctorate from LovelyProfessionalUniversity, but his "wish list" for the Indian government remained unfulfilled.
DEA objects to the company's 29 Indian stores having sub-brands as a rule violation; DIPP doesn't agree.
Patience has kept IKEA, the euro 27-billion Swedish retailer, going despite entry hurdles. So says Juvencio Maeztu, its chief executive officer for India.
Patience has kept IKEA, the euro 27-billion Swedish retailer, going despite entry hurdles. So says Juvencio Maeztu, its chief executive officer for India.
FDI policy for multi-brand retail has been a sore point for the retail chain.
Retailers can buy existing facilities if they spend $50 mn to create additional infra.
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