Ministry officials said the matter is being reviewed with the objective of bringing down the FDI cap from 100 per cent to 26 per cent in line with the limit for news media. This decision for the review was taken while discussing the proposal of US-based Dow Jones and Company for setting up a wholly-owned subsidiary to carry out publishing the facsimile edition of Wall Street Journal in India.
A section of traders and hawkers today staged protests in various parts of the country against the government's decision on FDI policy in multi-brand retail, the Confederation of All India Traders (CAIT) said.
The UPA Government continued to display its commitment to reform agenda as the Cabinet today gave nod to two important financial sector reform bills, aimed at increasing foreign direct investment (FDI) in the insurance sector to 49 per cent from the current 26 per cent and opening up of the pension sector. Besides, the Cabinet approved the Companies Bill, 2011.
Most investments by Indian corporate houses in the overseas market is through countries that have either low tax rates or allow tax-free remittance of income. Much of the outward foreign direct investment (FDI) by India Inc done between April and December 2007 was directed to Singapore, the Netherlands and British Virgin Islands (BVI), according to the latest Reserve Bank of India data. RBI said the actual outward FDI in April-December 2007 grew 13 per cent at $10.11 billion.
Bahujan Samaj Party leader Mayawati has decided to support the government on FDI as she does not want to destabilise the government, reports Renu Mittal
A Planning Commission panel has suggested allowing foreign investors to own a larger share in domestic insurance companies. The group, chaired by Planning Commission member Anwarul Hoda, has also said that foreign direct investment restrictions on reinsurance companies should be removed.
Bahujan Samaj Party supremo Mayawati on Friday kept up the suspense on her party's stand on voting on the Foreign Direct Investment in retail issue in Rajya Sabha, saying it will be declared on the floor of the House.
Trinamool Congress chief Mamata Banerjee cited a statement by former Union Finance minister Pranab Mukherjee in the Lok Sabha on December 7, 2011, alleging that the Centre had deviated from its own statement.
Left leaders Sitaram Yechury and A B Bardhan on Thursday shared dais with Bharatiya Janata Party's Nitin Gadkari and Murli Manohar Joshi at a demonstration against FDI in retail and hike in diesel prices.
Maharashtra and the National Capital Region accounted for over 50 per cent of foreign direct investment inflows into the country during the first half of 2010-11, says the latest Industry Ministry data.
The government looks all set to open up the retail sector beginning with food and a proposal in this regard is expected to go before the Cabinet by next month.
In recognition of his efforts in making India an attractive foreign direct investment destination, Commerce and Industry Minister Kamal Nath has been selected as the "Global fDi Personality of the Year
The flow of foreign direct investment into China, dubbed as the world's factory, continued its slight decline in the first eight months this year.
This means the cable companies engaged in last-mile distribution of TV channels will qualify for the existing 49 per cent FDI limit, while operators of DTH, HITS, IPTV and multi-system operators will be able to bring in up to 74 per cent FDI, a limit proposed by broadcast regulator Telecom Regulatory Authority of India.
The IRDA favours for a hike in FDI cap from 26 to 49 per cent and amendments in legislations to enable greater flexibility in investment.
The document consolidating all the aspects of foreign direct investment policy and framework will be released by commerce and industry minister Anand Sharma, an official said.
Shortlisted bidders have been intimated
Kingfisher Airlines soared 5.76 per cent to Rs 13.20, while Spicejet scrip gained 4 per cent to Rs 38.30 on the BSE. Jet Airways rose by 2.44 per cent.
The Communist Party of India on Thursday voiced strong opposition to the Budget proposal to increase foreign direct investment cap in three key sectors of telecommunication, insurance and aviation threatening to take to the streets on this issue.
Tightening the norms, the government has done away with automatic approval of foreign direct investment (FDI) in the existing pharmaceutical companies.
Increased investments in traditional manufacturing sector helped India surpass South Korea to become Asia's fourth largest FDI recipient in 2006, a UNCTAD report said.
In ideologically discordant notes within Aam Aadmi Party, Captain Gopinath, pioneer of low-cost airline business, slammed the decision of AAP government in Delhi to reject FDI in retail, saying the party is "running in danger" of being branded like other parties of resorting to cheap and populist measures.
Expressing commitment to push forward economic reforms, Finance Minister Pranab Mukherjee today said the government is making efforts to build a consensus on important economic legislations, including PFRDA and foreign investment in multi-brand retail.
Foreign direct investment in many other sectors may be hiked to 100 per cent and procedures for External Commercial Borrowings would be further simplified, a senior finance ministry official indicated on Tuesday.
The finance ministry is arriving at a consensus to reject a proposal mooted in government to permit foreign direct investment (FDI) in multi-brand retailing.
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