In the aviation sector, 100 per cent FDI is allowed under automatic route for MRO (maintenance, repair, overhaul), ground handling, and aircraft purchase.
The Department of Industrial Policy and Promotion in the Commerce Ministry proposes to scale back the Foreign Direct Investment ceiling for the tobacco industry from 100 to 74 per cent and insert a caveat that cigarettes manufactured in the new ventures or in upgraded facilities must be mainly for consumption outside India.Sources said the department, which is responsible for the policy on FDI, is finalising a cabinet note aimed at comprehensive review of the tobacco policy.
The development comes amid a growing clamour for the boycott of Chinese products in India, combined with the government's push for Aatmanirbhar Bharat.
The Union Cabinet on Wednesday approved revision in guidelines for providing direct to home (DTH) services in the country under which licenses would be issued for 20 years, Union minister Prakash Javadekar said. The Union Cabinet has also approved 100 per cent FDI in the DTH broadcasting services sector, Javadekar said, adding that while the commerce ministry had spoken of 100 per cent FDI in the DTH sector, the guidelines of the information and broadcasting ministry needed to be changed.
In April last year, tax authorities had questioned Deepak Kochhar over a Rs 405-crore investment by Accion Diversified Strategies Fund through its Mauritius subsidiary, DH Renewables Holding
FDI into the country increased by 30 per cent to $21.62 billion during April-September this fiscal.
The retail company has sought approval to invest Rs 10,500 crore to set up single-brand retail stores in the country.
The Union Cabinet is expected to soon consider a proposal to increase foreign direct investment cap in broadcasting services like Direct-to-Home and cable TV networks to a uniform 74 per cent.
Tech giant allowed to set up fully owned shops, with 30% local sourcing like everyone else.
Reconstruction efforts after the Russia-Ukraine war will be dominated by the heft of the membership of major nations across international organisations. India is hamstrung because it does not play host to any major global institution nor does it hold positions of significant influence in the ones in which it has membership. As a result, the world's sixth largest economy is obliged to follow the rules set by most of them.
Tax sleuths conducted search operations on Thursday on 10 premises of Noida-based Uflex Ltd (formerly Flex Industries), besides telecom equipment maker Himachal Futuristic Communications Ltd for suspected tax evasion.
The Union ministry of agriculture and the department of land resources under the ministry of rural development have given "in principle approval" to a proposal of the Department of Industrial Policy and Promotion (DIPP) to invite FDI for developing non-arable land through better technology into fertile and cultivable land.
To resolve the so-called 'angel tax' issue, the start-ups and their investors who file requisite declarations and provide information in their returns will not be subjected to any kind of scrutiny in respect of valuations of share premiums, she said.
The commerce and industry ministry is not in favour of allowing foreign airlines to buy stake in Indian carriers on the ground that the sector is sensitive.
In 2020-2021, the amount of foreign direct investment into India from China and Hong Kong plummeted to just $200 million -- its lowest in the recent past. In the first half of 2021-2022, FDI investments through these two nations stood at just $36 million.
Japan Plus to facilitate and fast-track investment proposals.
Currently, 100 per cent FDI in is permitted if the companies manufacture cigars or cigarettes or allied products.
'As the demand for transferable skills that can be remotely applied increases, the need for tech-based courses is on the rise/'
Strengthening the portfolios of the home minister and the finance minister is a message that should not be missed, points out A K Bhattacharya.
In a discussion paper, the Department of Industrial Policy and Promotion has suggested creation of new service entities to which most of the statutory compliances, under the labour laws for small and medium enterprises, can be outsourced.
The Union ministry of food and consumer affairs proposes to insert a new clause in the fresh discussion note for the Cabinet on allowing foreign direct investment (FDI) in multi-brand retail.
India Ratings expects long products demand growth to be sharp, supported by a demand push from the government-led infrastructure investments in affordable housing, railways, rural electrification and road networks.
While foreign direct investment is not allowed in the multi-brand retail, the organised retail stores promoted by the domestic industrial houses have been steadily growing.
After the Kerala government declared the coronavirus outbreak as a 'state calamity', as the three positive cases were detected from Thrissur, Alapuzha and Kasaragod, tourism minister Kadakampally Surendran admitted that the sector had suffered a hit. The sector had aggressively launched promotional advertisements in the domestic and international markets after the floods to revive the sector. However, all the efforts took a beating, with mass cancellations of hotel bookings after the outbreak of the infection in the state was reported.
The Indian government has asked the cement industry to concentrate on modernisation and upgradation of technology, optimisation of operations and increased application of automation and information technology.
It will provide a single-stop shop for all business licences and permits, eliminate the need for a physical interface with various regulatory authorities at the central, state and local government levels and provide all business-related information 24x7 on a single portal.
An announcement has barred the entry of journalists in the finance ministry.
To seek tax exemption, a start-up will now have to apply, with all the documents, to the DIPP instead of the inter-ministerial board of certification. The earlier requirement of start-up to submit report from merchant banker specifying the fair market value of shares has also been removed.
The government is likely to announce significant policy measures relating to allowance of foreign direct investment (FDI) in the multi-brand retail segment, even as the Department of Industrial Policy and Promotion (Dipp) under the Ministry of Commerce and Industry is giving final touches to the draft report prepared by an inter-ministerial committee.
The current crisis Karnataka Chief Minister Siddaramaiah is facing is a cumulative effect of inattention to water management and the fiscal burden of populist promises, says Aditi Phadnis.
Similarly, FDI from Cyprus too increased by about three-times to $879 million in the last financial year from $296 million in 2018-19.
The company seeks easing of sourcing norms for retail FDI; govt unwilling to make exception.
Cabinet nod not required after commerce ministry approval.
Tesco, which has sought the government's permission to buy 50 per cent stake in Tatas-owned Trent Hypermarket Ltd, will have to invest atleast $55 million in creation of fresh back-end infrastructure.
DIPP's proposal is believed to have the support of the ministry of consumer affairs, food and public distribution and was originally mooted by the Forward Markets Commission.
Commerce and Industry Minister Anand Sharma along with officials from his ministry were in the Nordic country for a two-day visit. They were accompanied by Indian industrialists led by the Confederation of Indian Industry.
The commitment by Japan to invest $35 billion or 3.5 trillion YEN is for infrastructure sector over five years.
Cap in single-brand retail likely to be 74%.
Now we need to fight back to reclaim our food and our habits. The only way to do so is to rediscover food as pleasure and be thrilled, not just by its smells and tastes, but also by the knowledge it embodies, says Sunita Narain.
