The decision is likely to bring in at least Rs 5 lakh crore of fresh investments into the sector over five years by improving connectivity and competition
The Enforcement Directorate has arrested four persons including the MD of the Lava International mobile company and a Chinese national as part of its ongoing money-laundering probe against Chinese smartphone-maker Vivo, official sources said on Tuesday. They identified the four as Hari Om Rai, the MD of Lava International company, Chinese national Guangwen Kyang, chartered accountant Nitin Garg and a person called Rajan Malik. They have been taken into custody under the provisions of the Prevention of Money Laundering Act (PMLA).
FIPB rejects proposals from firms that have not divulged details of beneficial ownership or source of funding
The Indian government on Wednesday permitted owners of the daily foreign newspapers to make 100 per cent FDI (foreign direct investment) in their facsimile editions published in India.
In a sudden turn of events, the Centre has decided to put on hold the controversial decision about FDI in retail sector, in an apparent bid to break the Parliament logjam. West Bengal Chief Minister Mamata Banerjee, whose party Trinamool Congress is strongly opposed to the decision, claimed on Saturday that Union Finance Minister Pranab Mukherjee spoke to her and told her that the FDI decision has been "suspended".
In India, these global retailers exported goods worth $725 million in 2010. Modern retail constitutes 6.5 per cent of the $435-billion overall Indian retail market.
The government on Friday said that the realisation rate of foreign direct investment inflows into India has been the highest in 2002 since 1991 at 191.08 per cent in rupee terms.\n\n\n\n
The government said on Thursday said it will make it clear within 10 days whether foreign players be allowed to hold stake in stock exchanges or not.
A ministerial panel on Thursday urged the government to raise foreign direct investment caps in a host of sectors including telecom, petroleum and civil aviation as part of a move to liberalise the economy.
India's foreign direct investment inflows during the calendar year 2002 increased by a mere 3.5 per cent at $4.43 billion despite the government's continued efforts to liberalise the economy.\n\n\n\n
CPI leader D Raja also attacked govt for going back on its assurance to hold consultations with all stakeholders.
Director P Sheshadri talks abut his new film.
Broad consensus is emerging within a Group of Ministers chaired by finance and external affairs minister Pranab Mukherjee on a proposal seeking comprehensive changes in the foreign direct investment policy. This includes scrapping automatic approval in sectors that have FDI limits and in which ownership or control is shifting to a foreign company, and a new definition for calculating indirect foreign equity.
The Bharatiya Janata Party on Sunday criticised Prime Minister Manmohan Singh's remarks that those who oppose Foreign Direct Investment in retail are "ignorant", saying it is not the Opposition which is ignorant, but the United Progressive Alliance government and the Congress Party.
The government on Wednesday said provisions of Press Note 2 (2005 series), which allowed 100 per cent foreign direct investment in townships
China approved 9,582 new foreign-funded companies in first 5 months.
Amid a debate within the government on allowing foreign direct investment in multi-brand retail, the nodal consumer affairs ministry is insisting on a foreign direct investment cap of 49 per cent in the sensitive sector, sources said.
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The mood in the government seems to have hardened and they do not seem to be in a mood to budge on the issue. Prime Minister Mamhohan Singh indicated as much during his speech at a Youth Congress meet in the capital on Tuesday.
India on Tuesday mooted a marketing policy for the sector though domestic players opposed any move to allow overseas investments in the retail space.
Accusing the opposition of spreading misinformation regarding policy initiatives taken by the United Progressive Alliance government, a combative Prime Minister Manmohan Singh on Sunday said reform measures, including FDI in retail, will benefit the common man and create more jobs.
Why the Union Cabinet was so impatient to allow FDI in multi-brand retail flummoxed many.
The government is likely to allow FDI in high speed trains and other projects.
The real estate industry is divided over the impact of the proposed foreign direct investment (FDI) in multi-brand retail.
Observing that India has a low foodgrain productivity and inefficient distribution, he said increasing the scale of investments in organised retail is one way to increase productivity and distribution efficiency.
As Parliament on Tuesday began discussing Foreign Direct Investment in retail under a rule entailing voting, the Congress did not hide its displeasure over the "unhealthy precedent" that an executive decision has been put up for legislative vote.
The FDI announcements made by the government in multi-brand retail, single-brand retail, aviation sector and broadcast sector are expected to change the landscape of the respective industry.
FDI in real estate will now be through the automatic route and not through the Foreign Investment Promotion Board.
A Parliamentary panel that went into a Bill to create a pension fund regulator has favoured 26 per cent FDI in the sector, but found many lacunae in the legislation.
Japan on Tuesday said the labour unrest at Honda Motorcycles and Scooters India could impact foreign direct investment inflows into India, but ruled out its intervention in the matter.
Fissures in the opposition over Foreign Direct Investment in retail came to government's aid Thursday as the opening day of Parliament's winter session was washed out and Trinamool Congress' move for a no-confidence motion flopped.
Says allow companies with up to 49% FDI to invest in restricted sectors.
The two major railway unions have proposed to the government an unprecedented alternative to privatisation or inviting foreign investment, to help raise funds and improve revenue.
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