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.
The Department of Industrial Policy and Promotion (DIPP) under the Ministry of Commerce has called a meeting on July 10 to discuss the foreign direct investment (FDI) policy in the cigarette industry.
Ecommerce firms will have it tough as govt turns down FDI proposal.
Prominent e-commerce marketplace players include Amazon.in, Flipkart, Snapdeal, Paytm, Shopclues and Jabong
Undeterred by global credit freeze, India maintains a bullish outlook on attracting foreign direct investment which may be governed by easier rules, a top government official said.
India has been ranked as the most attractive investment destination in the world for the next three years.
Move to make investing in sectors with FDI cap easier.
This was part of a set of clarifications issued by DIPP on the norms to be used to treat downstream investments by Indian companies which have foreign equity, termed Press Note 4. Investing company means an Indian one holding only investments in other Indian companies. Foreign owned or controlled means either having foreign ownership in excess of 50 per cent or non-residents having powers to appoint a majority of board members.
Bentonville-based Walmart has also raised apprehensions about the ongoing probe by investigating agency Enforcement Directorate, said an internal note of the Department of Industrial Policy and Promotion.
The commitment by Japan to invest $35 billion or 3.5 trillion YEN is for infrastructure sector over five years.
Tesco, which has sought the government's permission to buy 50 per cent stake in Tatas-owned Trent Hypermarket Ltd, will have to invest atleast $55 million in creation of fresh back-end infrastructure.
The finance ministry is of the view that all interests -- direct and indirect -- should be taken into account and that there should not be any threshold for calculating total effective foreign shareholding in a company.
Services attract highest foreign direct investment, despite Make in India push.
FDI into the country increased by 30 per cent to $21.62 billion during April-September this fiscal.
The government has authorised economic think-tank Centre for Monitoring Indian Economy (CMIE) to collect data to be used for compilation of the new series of Index of Industrial Production (IIP).
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Single-brand retailers are also allowed to take e-commerce route for such trading.
With the abolition of the Foreign Investment Promotion Board (FIPB), Amazon's proposal will now be vetted by the Department of Industrial Policy and Promotion (DIPP) under the commerce ministry.
'You have come out with a package for the kisan.' 'You have a package for industry.' 'But has anyone addressed the issues concerning small traders?'
Foreign direct investment (FDI) in India declined by about 15 per cent to $12.6 billion (Rs 74,971 crore) during April-October this year, Parliament was informed on Wednesday.
US retail giant Wal-Mart, which has signed a joint venture with the Bharti Group for wholesale cash and carry business, will restrict itself to technical support and training in Sunil Mittal firm's foray into retail.
FIPB split over Bates' Sercon stake buy. Ravi Shastri's firm alleges violation of Press Note 1.
Oppo's FDI application approved for single-brand retail trading
The two groups have another JV, Wadia BSN, set up in 1996 to launch Groupe Danone's products from its global portfolio. However, nothing has been launched through the JV till date and Danone is in negotiations with the Wadias to dissolve the JV.
Maharashtra could become the gateway for the rest of the country.
Giving major relief to budding entrepreneurs, the government on Thursday allowed startups to avail tax concession only if total investment including funding from angel investors does not exceed Rs 10 crore.
While the new norms are part of the draft policy's guidelines to fight counterfeit and fake products on platforms, they might end up helping brands and e-commerce firms sign exclusive sale deals.
Services attracted the most FDI during the first eleven months period of 2015-16.
The move is likely to hit Bharti-Walmart, the 50:50 joint venture between the US' Walmart and Sunil Mittal-led Bharti Group that operates cash-and-carry outlets in India, the most.
The one-year extension would give Walmart and its Indian joint venture partner in the cash and carry business, Bharti Group, more time to sort things out and decide on a retail foray together, people in the know said.
Overall foreign inflows into the country grew by 8 per cent to $ 24.29 in the last fiscal as against $ 22.42 billion in 2012-13.
Several CII defence committee members confirm this is now the official CII position, which conforms to that of industry bodies, Ficci and Assocham.
Retailer bodies to demand govt action against I-Day sales offers, threaten legal action for breach of FDI rules.
FDI inflows to India are picking up.
This FDI includes equity, re-invested earnings and other capital.
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Amidst debate over control of Jet Airways post UAE's Etihad buying stake, the RBI on Thursday notified FDI guidelines defining control of a company, saying that a firm will be said to be controlled by non-residents if they have powers to appoint majority of the directors.
Global investment is agnostic when it comes to nationalism, says Kanika Datta.
India had been engaged in a contentious battle with the US over the issue, especially in the pharmaceutical sector.
Global retail giant Walmart is expected to soon firm up its plan to foray into India's multi-brand sector.
Sharma was addressing the members of the Board of Trade, a body comprising captains of Indian industry.
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