Overall foreign inflows in the country rose by 27%.
For now Walmart has said it remains optimistic about India. But that could change without prior notice, says Nivedita Mookerji.
"Not a single step has been taken by this government to empower small businesses in India," says Praveen Khandelwal, national secretary general of the Confederation of All India Traders and former treasurer of the Bharatiya Janata Party's Delhi unit.
The country received FDI of $14.6 billion during April-August 2008 against $6.5 billion a year ago. The FDI target for 2008-09 is 35 billion dollar, while the actual inflows during the previous year were $24.57 billion.
Finance Minister Nirmala Sitharaman on Thursday announced a Rs 11.11 lakh crore spending on infrastructure and vowed to continue reforms as she resisted resorting to populist measures in Modi government's last Budget before general elections, instead choosing to stay on the path of cutting deficit while bolstering measures for focus groups.
The CBI registered an FIR against NewsClick and its founder Prabir Purkayastha for alleged violation of the Foreign Contribution (Regulation) Act and carried out searches at the office and residence of the portal's founder on Wednesday, officials said.
Since allowing FDI in multi-brand retail has been left to the states, Indian companies may not benefit as foreign investors are wary of the politics.
The government wants to use the FDI victory impetus to clear the Companies Bill and those amending the banking and pension Acts.
A large number of states, including Congress-ruled Kerala, are opposing the decision on concerns that the entry of foreign retailers like Walmart would lead to displacement of the neighbourhood kirana stores.
After rising in September, Foreign Direct Investment (FDI) inflows in the country dipped by about 40 per cent to $1.4 billion in October over the same period last year.
India's plans to relax foreign direct investment (FDI) rules across a broad spectrum of industries have received the final approval from the Cabinet Committee of Economic Affairs (CCEA).
Global sentiment has turned very positive for India
Maharashtra received the lion's share of the foreign direct investment inflows into India during April-August this fiscal, according to industry ministry's latest data.
However, in recent times, the clout that trader bodies such as CAIT and other organisations like Swadeshi Jagran Manch and Laghu Udyog Bharati has is steadily increasing. Earlier this year, trader bodies were able to convince the government not to extend the deadline for implementation of the new norms in FDI policy on e-commerce.
Foreign direct investment in India has seen unprecedented growth in the recent years. FDI's contribution in India's GDP too is on the rise.
US diplomatic cables say Indian partners might be actually lobbying against raising the FDI cap.
In June 2012, the country had received FDI worth $1.24 billion.
Gadkari said, infrastructure sector including highways, airports, inland waterways, railways, logistic parks, broad gauge and metro, apart from MSMEs can attract large scale foreign investment.
According to the guidelines approved by the government, 100 per cent FDI can be utilised in facilities like cleaning up trains and installation of bio-toilets in passenger coaches and setting up of mechanised laundry services.
The government has asked industry to provide a list of Chinese suppliers that would like to shift some capacity to India provided they are willing to set up JVs with Indian companies.
Maharashtra topped the chart in terms of attractiveness at sub-national level in a weighted index calculated on the basis of individual ranking provided by participants of Ficci FDI Survey 2006.
Bharatiya Janata Party on Thursday asserted that it would use all mediums of democratic protest to oppose the move to allow Foreign Direct Investment (FDI) in multi-brand retail, saying this would harm self-employed retailers.
After defence, the Commerce and Industry ministry has started the exercise to relax foreign investment norms in the railways sector by permitting 100 per cent FDI in high-speed train systems and dedicated freight lines.
Foreign Direct Investment inflows from Mauritius have almost halved during April-January period of last fiscal to $4.11 billion on fears of impact of GAAR and possible re-negotiation of the tax avoidance treaty.
A letter reversing the decision was sent by Rajasthan Chief Minister Vasundhara Raje to Commerce and Industry Minister Anand Sharma.
China will open up service sectors such as education, finance and culture for FDI to remain an attractive destination for overseas investment.
Foreign direct investment inflows into India rose an annual 12.9 percent in July to $1.66 billion.
Delhi's Industry Secretary Amit Yadav told PTI that the city government has communicated its decision to the Department of Industrial Policy and Promotion of the government.
The Trinamool Congress is not happy with the government's move to put on hold its decision to allow Foreign Direct Investment in retail and insisted that FDI should be rolled back.
The GAAR provision will apply to entities availing tax benefit of at least Rs 3 crore.
In the first nine months of 2009, FDI dipped by 26 per cent to $21.4 billion from $29 billion a year ago. The total FDI inflow into India since 2001 crossed the $100 billion mark.
Amid a government scrutiny into the alleged breach of FDI norms by Hutchison Telecom International, the Hong Kong-based firm on Monday asserted its Indian mobile venture Hutch Essar Ltd (HEL) did not violate any regulations.
Foreign Direct Investment into the country declined by about 38 per cent, year-on-year, to $2.91 billion in September, according to the Department of Industrial Policy and Promotion.
It will be bad for the farmer and the consumer. It will be bad for the poor -- urban and rural. It will put a lot of people in the retail trade out of jobs. It will increase fuel use, says G V Dasarathi who is in charge of buying groceries in his family.
Despite the uncertain economic environment globally, FDI in India surged 50 per cent to USD 20.76 billion from January-August, according to the industry ministry's latest data.
India's current account deficit narrowed to $1.3 billion or 0.2 per cent of GDP in the January-March quarter of FY23, mainly due to moderation in the trade deficit and a robust increase in services exports, RBI data showed on Tuesday. However, for the 2022-23 fiscal, the current account balance recorded a deficit of 2 per cent of GDP compared to 1.2 per cent in 2021-22. "India's current account deficit (CAD) decreased to $1.3 billion (0.2 per cent of GDP) in Q4:2022-23 from $16.8 billion (2.0 per cent of GDP) in Q3:2022-231, and $13.4 billion (1.6 per cent of GDP) a year ago [Q4:2021-22]," as per the RBI's 'Developments in India's Balance of Payments during the Fourth Quarter (January-March) of 2022-23'.
Commerce ministry had recently brought out a discussion paper that called for allowing 100 per cent FDI in the defence sector.
A Department of Industrial Policy and Promotion fact sheet mentioned India's top 10 FDI generating countries.
A prime minister-appointed panel on inflation has pitched for opening FDI in multibrand retail in a 'properly regulated fashion', cautioning that the global corporations can also become monopolistic and hike prices.
With the issue of recent clarifications, the government seems to have decided to ensure that few, if any, actual foreign investors choose to enter the sector.
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