The probe is being conducted under various sections of the Foreign Exchange Management Act (FEMA) after the central probe agency recently received a communication from the commerce ministry seeking "necessary action" against e-commerce players like Amazon and Flipkart pertaining to certain multi-brand retail businesses and an observation made by the Delhi High Court in relation to Amazon.
With the shifting of the Foreign Investment Promotion Board to the finance ministry, the government has now reconstituted the board appointing Finance Secretary S Narayan as its chairperson.\n\n\n\n
The Department of Industrial Policy and Promotion (DIPP) has finally sanctioned the proposal of allowing foreign direct investment (FDI) from Pakistan. But the final notification will be issued by the Reserve Bank of India (RBI) within the next couple of weeks. The move will be unprecedented in the bilateral trading relations between both the nuclear-armed neighbours.
But completion occupancy certificates to be mandatory.
She said Finance Minister Arun Jaitley is working "hard" on the Bankruptcy Code
The govt plans to seek Centre's help for a re-assessment by the World Bank.
Retailers and multiplex operators want mall owners to either forgo rent for the period of the shutdown or lower rent in the event the mall is open but footfalls are low.
The government has decided to set up a joint venture company with industry body Ficci for encouraging investment in the country."The Invest India company, a joint venture between the department of industrial policy and promotion and Ficci, would be funded by the government and managed by the chamber," commerce and industry Minister Kamal Nath said
The commerce and industry ministry had moved a Cabinet note to allow foreign carriers pick up equity in their Indian counterparts.
Foreign inflows, in August 2012, had declined by 20 per cent to $2.26 billion after registering an increase in July at $1.47 billion.
After declining for two months in a row, foreign direct investment (FDI) in India grew by 8 per cent year-on-year to $2.15 billion in January.
Centre has already started work on developing a mechanism to ensure states producing any item in excess is able to transport it to other states where there is demand
Chidambaram has not been named as an accused in the FIR and the CBI is yet to file a chargesheet in the matter.
Foreign direct investment (FDI) in India declined by about 15 per cent to $12.6 billion (Rs 74,971 crore) during April-October this year, Parliament was informed on Wednesday.
Easy financing, including grant of tax exemption, being considered to provide early stage funding.
The finance ministry is of the view that all interests -- direct and indirect -- should be taken into account and that there should not be any threshold for calculating total effective foreign shareholding in a company.
Notwithstanding its inability to open multi-brand retail for foreign investment, government on Tuesday notified 100 per cent FDI in single-brand retail, paving way for global chains like Adidas, Louis Vuitton and Gucci to have full ownership of their India operations.
In October 2011, the country had attracted FDI worth $1.16 billion.
Trial by the media can be avoided if the industry itself devises effective mechanisms to bring this to an end
Twenty-two proposals comprising 16 states and Union Territories and six ministries and departments have been shortlisted for participation in the parade after a series of five meetings.
Independent directors of Future Retail Ltd are collating information and will expose the details of contradiction and misrepresentation made by Amazon before the Competition Commission of India (CCI), said FRL independent director Ravindra Dhariwal. Speaking to PTI, Dhariwal said the independent directors are "collating" all the pieces of information together, going "deeper into each and every representation" which Amazon had made before the CCI and showing how its "intent was totally contradictory." "We are going out to point exactly to CCI, this is what they have told you and this is what the internal documents are saying. "We are going to expose the details of contradiction and details of misrepresentation, which they have made," Dhariwal said adding "We are going to show the true face of Amazon to the whole world". In November 2019, Amazon had acquired a 49 per cent stake in Future Coupons Pvt Ltd (FCPL), a company that holds a stake in FRL.
The Indian Institute of Science topped the HRD ministry's 2017 national rankings. In 2016, the IISc was ranked among the world's top 15 universities in the Times Higher Education University Rankings. In his book The Creation of Wealth: The Tatas from the 19th to the 21st Century, R M Lala recounted how Jamsetji Tata's grand vision and immense personal contribution laid the edifice of arguably India's finest educational institution.
'Nirmalaji's Budget announcements have long-term implications and are not backed by enough money when the short-term outlook looks bleak,' notes T N C Rajagopalan.
Tata Trusts is one of India's oldest, non-sectarian philanthropic organisations involved in areas of community development.
The Department of Industrial Policy and Promotion under the commerce ministry has floated a draft Cabinet note for inter-ministerial discussions on foreign direct investment in aviation.
Modi said it is an outcome of India's consistent reforms trajectory that the country's position is getting credence globally and is being recognised by international bodies like the IMF, World Economic Forum and UNCTAD.
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.
Some companies are already seeking review of the new norms.
The state is planning an event similar to PM Narendra Modi's Startup India.
Government has issued a formal notification for raising foreign direct investment limit in public sector refineries to 49 per cent. The FDI would require prior approval of Foreign Investment Promotion Board. The condition of compulsory divestment of up to 26 per cent by foreign companies commencing trading and marketing of petroleum products has been deleted. Government had allowed 100% FDI in actual trading and marketing of petroleum products, with 26% divestment condition.
US retail giant Wal-Mart, which has signed a joint venture with the Bharti Group for wholesale cash and carry business, will restrict itself to technical support and training in Sunil Mittal firm's foray into retail.
In 2011-12, FDI rose 34.4 per cent to $46.84 billion, compared with $34.84 billion in 2010-11 and $37.74 billion in 2009-10, according to data from the Department of Industrial Policy and Promotion.
New policy to give greater flexibility to foreign players.
FIPB split over Bates' Sercon stake buy. Ravi Shastri's firm alleges violation of Press Note 1.
It rained investments on India as the Make In India programme, envisioned by Prime Minister Narendra Modi with a focus on the manufacturing sector, raked in Rs 15,20,000 crore in committed investments.
FinMin had, recently, notified changes in FDI rules that made prior approval of the government mandatory for foreign investments from countries that share a land border with India. Hong Kong was ranked 14th on the list of countries with FDI flows to India, contributing $4.2 billion between April 2000 and December 2019, the data from DPIIT shows. India received FDI worth $2.34 billion from China in the same period.
Anand Sharma, who took charge of the nodal ministry for FDI on May 29, said there is no need for a relook at the policy amended in February by the Department of Industrial Policy and Promotion. While the policy does not allow overseas inflow into this sector, the changes in February were perceived to be opening the sector to FDI up to 49 per cent in an Indian firm that has a downstream subsidiary firm in retailing.
Ruling out any rollback of the policy to allow foreign investment in multi-brand retail in the country, the government on Thursday said it would issue the guidelines in due course.
To boost Make in India in defence production, Finance Minister Nirmala Sitharaman on Saturday said foreign direct investment limit in defence manufacturing will be hiked to 74 per cent from 49 per cent while some weapons and platforms will be banned for imports.
The petroleum ministry has recommended a hike in the foreign direct investment cap in government-owned refineries to 49 per cent from the current 26 per cent.
