The Department of Industrial Policy & Promotion and Planning Commission member Arun Maira are sticking to their guns on foreign direct investment in the pharmaceutical sector.
Indian-origin Labour Member of Parliament Keith Vaz has advised Indian legislators to be careful while handling the issue of foreign direct investment in retail, cautioning that a major dominance by super markets may not be in the interest of common man.
The ministry is likely to go by the recommendations of a committee on liberalising external commercial borrowings, headed by M S Sahoo, a former director with the Securities and Exchange Board of India.
Both have been robustly muscular leaders who began as immensely charismatic politicians conveying an impression that they were makers of history, raring to go. Both have been hyperactive on the world stage. But in the final analysis, Abe is departing on a sombre note, unceremoniously and apologetically, observes Ambassador M K Bhadrakumar.
In a wide-ranging overhaul of rules to make India an easier, safer and attractive investment destination, Sebi on Tuesday unveiled a new set of streamlined entry norms for foreign investors, while putting in place checks against any wrongdoings by the company promoters.
Crucial financial sector reforms are again stuck, despite Finance Minister Pranab Mukherjee's appealing to political parties to help pass the legislations in this regard.
Committee of Secretaries has come up with a pointless set of guidelines.
They are making switch to the high-growth alternative investments fund industry, reports Pavan Burugula.
Tax experts said many would use this to bring black money and cash stashed in tax havens into the country.
Besides Deepak Parekh, who heads financial institution HDFC, other committee members include key representatives of major banks and infrastructure finance institutions.
Analysts say it is a case of over-promise and under-delivery.
Turning down the suggestion of Parliamentary Standing Committee, the Union Cabinet also decided that there would be no guarantee of assured returns on schemes by pension funds.
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 Department of Industrial Policy and Promotion in its draft Cabinet has proposed to further tighten the rules for foreign direct investment in brownfield pharmaceutical sector.
Inching closer to launch its operations, new no-frill carrier AirAsia India on Saturday took delivery of its first Airbus A-320 as it landed in Chennai after flying in from Toulouse headquarters of the European aircraft manufacturer.
The government has set up a committee to examine the regulatory structure of the gold industry to make India a gold trading hub, Minister of State for Commerce and Industry K S Elangovan said on Monday.
A summary of sports events and persons who made news on Tuesday
It is assumed that the growing worry over slowing down of economic growth had prompted the government to act.
Sensex in green in afternoon trade.
For existing investors, it may be prudent to redeem their current investments in gilt or dynamic schemes and invest it in short-term funds, if the exit load is not very high, advises Malhar Majumder.
This is despite expectations of a stormy session, given the unresolved standoff on the Opposition's insistence on a Joint Parliamentary Committee probe into the telecom spectrum controversy.
Corporate legal cases kept India Inc on its toes in 2014 as high stake matters on coal, telecom and mining came up in the Supreme Court, which also sent Sahara Group chief Subrata Roy to jail.
Contentious issues such as the construction of a Ram Temple in Ayodhya, abrogation of Art 370 giving special status to Jammu and Kashmir and enactment of Uniform Civil Code have been included in the Bharatiya Janata Party's election manifesto with the party making promises on them.
Several CII defence committee members confirm this is now the official CII position, which conforms to that of industry bodies, Ficci and Assocham.
The government on Thursday gave its nod to a foreign direct investment of $150 million (Rs 675 crore) in Maran family-run Sun TV's ambitious direct to home service project.
Till the other day, the Indian National Trade Union Congress (INTUC) had made no secret of its opposition to foreign direct investment in multi-brand retail. But the trade-union wing of the ruling Congress party at the Centre has now had a change of heart.
DRs have shares as an underlying asset and are typically issued by a bank, known as the depository bank, on behalf of a company.
The officials say no "concrete move" has yet been taken to take the matter to the Union cabinet for approval after the recommendation of the Committee of Secretaries (CoS) on July 22 to allow 51 per cent FDI.
Revising up inflation bands for the central bank will hurt the poor, former deputy governor of RBI Viral Acharya said on Wednesday, terming the current 4 per cent midpoint on price-rise as a "reasonable target".
The DMK parliamentary party appears to be a house divided, reports R Rajagopalan.
Events in America have strengthened the hand of those leaders there who wish India well, but think of India as being a collection of Indians.
If Indians are mistreated, they will object, asserts Aakar Patel.
The committee of secretaries (CoS) looking into the issue of allowing foreign direct investment (FDI) in the multi-brand retail segment is likely to meet this Friday to try for more agreement on the issue.
Concerns are swirling that Japan's dream of hosting the Tokyo 2020 Olympics could be a fatality of the spread of the new coronavirus, jolting organisers, sponsors, and media firms who have spent billions of dollars in the run-up to the event. Global insurers face a hefty bill if the coronavirus forces the cancellation of the Games, with estimates of the cost of insuring the showpiece running into billions of dollars.
India-born billionaire Lakshmi N Mittal's proposed Rs 3,365 crore investment in Hindustan Petroleum Corp Ltd's Bhatinda refinery in Punjab will have to wait for government approval as the Cabinet did not take up the issue on May 24.
'If some measures are implemented quickly, they can help revive growth.'
Headed by Urjit Patel, MPC for the fourth straight time kept the repo rate unchanged, at which it lends to the banks, at 6.25 per cent. The reverse repo, at which RBI borrows, will be 6 per cent.
In his first two years, Tyagi, a Himachal Pradesh cadre IAS officer, has implemented challenging stock market reforms and taken action against high-profile corporate entities.
The proposal was mooted by the department of industrial policy and promotion in the ministry of commerce and industry.
