Amongst the top 10 sectors, telecom received the maximum FDI of $2.47 billion
Draft Press Notes on FDI regulatory framework fail to address the gap between the domestic and foreign regulatory regimes.
Sources say the Mark Zuckerberg-led company wants to ensure there are no issues in its investment in the subsidiary of Reliance Industries and has roped in one of the Big Four consultancy firms to advise it on how the new "beneficial ownership" norms would apply to the proposed investment in Jio.
The Delhi high court on Friday sought the stand of news portal NewsClick and its editor-in-chief on a plea by the Enforcement Directorate (ED) seeking vacation of an earlier order granting them protection from coercive action in a money laundering case.
FDI into the country increased by 30 per cent to $21.62 billion during April-September this fiscal.
India's foreign exchange reserves increased to $604 billion as on December 1, surpassing the $600 billion mark after a gap of about four months. The forex reserves were last above the $600 billion mark on August 11 this year. "India's foreign exchange reserves stood at $604 billion as on December 1, 2023.
She also holds the distinction of delivering the longest budget speech at two hours and forty minutes in 2020.
India is in favourable position to attract foreign firms planning to relocate their manufacturing bases due to trade tension between the US and China, says Nomura.
This can mean companies like Apple, Zara can sell in India through wholly-owned subsidiaries
To boost Make in India in defence production, Finance Minister Nirmala Sitharaman on Saturday said foreign direct investment limit in defence manufacturing will be hiked to 74 per cent from 49 per cent while some weapons and platforms will be banned for imports.
The merged entity would be known as 'Vodafone Idea Ltd'.
The government is confident of meeting the fiscal deficit target of 5.9 per cent of gross domestic product (GDP) and the nominal GDP target of 10.5 per cent despite pressure in the initial months of FY24, Economic Affairs secretary Ajay Seth told Business Standard. Normally the initial months of any financial year see proportionally a higher fiscal deficit because the expenditure is evenly paced while revenue picks up in the later months, he said. "This year the proportional fiscal deficit so far is much closer to the target than in most other years.
Seeking to spur foreign investments, Finance Minister P Chidambaram has said the Union Cabinet will decide on raising FDI caps in different sectors in the third week of this month.
Since August 2013, FIPB has approved two FDI proposals in the telecom sector.
No reason was cited for rescheduling of the meeting.
India has eased foreign direct investment rules for the construction sector, the government said on Wednesday, in an effort to attract more money into the country to build new hotels, housing and townships.
Nitish has warned that FDI in retail sector will destroy the local retailers across the country.
China said on Monday the additional barriers set by India for investors from specific countries violate the World Trade Organisation's principle of non-discrimination, and go against the general trend of liberalisation and facilitation of trade and investment. "More importantly, they do not conform to the consensus of G20 leaders and trade ministers to realise a free, fair, non-discriminatory, transparent, predictable and stable trade and investment environment, and to keep our markets open," said a statement issued by the Chinese embassy in New Delhi.
100 per cent FDI is now allowed in almost every major TV distribution form (direct-to-home, cable, headend-in-the-sky, multi-system operators) and 49 per cent in TV news.
The 15 proposals were cleared following recommendations by Foreign Investment Promotion Board.
FDI in brownfield investment has resulted in acquisition of domestic drug-manufacturing firms by multinational companies.
Abu Dhabi's International Holding Company, one of the first high-profile investors in billionaire Gautam Adani's conglomerate, has decided to sell its stake in two Adani companies. In a disclosure, IHC said it has "entered into a definitive agreement with a buyer to dispose of its FDI investment in Adani Green Energy Ltd and Adani Transmission Ltd". It, however, did not name the buyer.
Though FDI inflow has been on the rise in the past three years, it is mostly on account of services
The deficit increased to $ 57.2 billion or 2.1 per cent of gross domestic product (GDP) in 2018-19 as against 1.8 per cent in the previous year.
DIPP had proposed 100% FDI in Railways, which it had to now scale down to 74% in certain areas
Towards the close of 2013, the finance ministry approved the proposal of UK-based Tesco to invest $110 million in opening up of multi-brand retail stores in the country in partnership with Tata Group firm Trent.
India, the world's fifth largest economy in the world, is likely to overtake Japan to become the world's third-largest economy with a GDP of $7.3 trillion by 2030, S&P Global Market Intelligence said in its latest issue of PMI. After two years of rapid economic growth in 2021 and 2022, the Indian economy has continued to show sustained strong growth during the 2023 calendar year. India's gross domestic product (GDP) is expected to grow 6.2-6.3 per cent in the fiscal year ending in March 2024, being the fastest-growing major economy this fiscal year.
At present 100% FDI is allowed, of which up to 49% investment in a company can be done through the automatic route
Market place model of e-commerce means providing of an IT platform by an e-commerce entity on a digital and electronic network to act as a facilitator between buyer and seller.
Services attract highest foreign direct investment, despite Make in India push.
RSS-aligned Bharatiya Mazdoor Sangh (BMS) on Monday expressed disappointment over the government's budget proposals with regard to divestment and foreign direct investment, especially in the insurance sector. The BMS, however, lauded the government for its current efforts on the massive vaccination programme, a special scheme for tea workers in West Bengal and Assam, labour oriented push on infrastructure projects in construction sector and development of five major fishing harbours viz. Kochi, Chennai, Visakhapatnam, Paradip, and Petuaghat as hubs for economic activities etc. On other Budget proposals, it said in a statement that "mixing the beautiful concept of Aatmanirbhar Bharat with FDI and disinvestment in the Union Budget is disappointing for the employees".
AAP, set to form the government in Delhi, had said it was opposed to foreign direct investment in multi-brand retail.
FDI inflows to India are picking up.
In a major reform push, government on Thursday approved 100 per cent foreign direct investment (FDI) in the telecom sector, meeting a key demand of the fund-starved industry.
High FDI inflows have big benefits for any economy. India thus needs to attract more investment.
Sectors that attracted maximum FDI include services, trading, automobile and power.
Moving ahead with the economic reforms, the Cabinet tonight cleared the long-delayed proposal for raising FDI limit in defence to 49 per cent and fully opened up the railway infrastructure segment, like high-speed trains, for foreign investment.
The Election Commission (EC) has raised certain questions on the government's proposal to allow foreign direct investment (FDI) in the construction and maintenance segments of the railways.
Ecommerce firms will have it tough as govt turns down FDI proposal.
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