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.
President Trump originally announced his intention to withdraw from the agreement in 2017 and formally notified the United Nations last year. The US exited the pact after a mandatory year-long waiting period that ended on Wednesday.
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.
Two multi-product SEZ projects promoted by Reliance Industries' Chief Mukesh Ambani and the Tatas are among others that would come up for clearance at the meeting of the Board of Approvals in New Delhi on Thursday.
The government has authorised economic think-tank Centre for Monitoring Indian Economy (CMIE) to collect data to be used for compilation of the new series of Index of Industrial Production (IIP).
The decision to increase FDI in single brand retail was taken by the Cabinet on November 24 along with opening the gates for overseas investment in the multi-brand retail.
Buyers from 19 countries participated and showed interest in sourcing from India.
The Department of Industrial Policy and Promotion has asked India Inc to incorporate data of SC/STs recruited from January 1, 2007 onwards in their annual reports for the financial year ending March 2007.
Even as Left parties have demanded a review of the tax concessions provided to SEZs, the DoT has sought extension of excise duty exemptions to industrial units set up in telecom-specific SEZs.
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Single-brand retailers are also allowed to take e-commerce route for such trading.
After defence, the Commerce and Industry ministry has started the exercise to relax foreign investment norms in the railways sector by permitting 100 per cent FDI in high-speed train systems and dedicated freight lines.
The Cabinet has agreed to the suggestion of the Department of Industrial Policy and Promotion or DIPP to allow companies like Walmart and Tesco to set up shop in the country.
In a consultation paper issued on Tuesday, the department of industrial policy and promotion sought comments on whether FDI should be restricted to LLPs operating in sectors without any investment caps, conditionalities or entry route restrictions.
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.
After 100% FDI, DIPP has put a condition an e-commerce entity will not be permitted more than 25% of sales through its marketplace from one vendor or their group companies
A financial analyst is one of the most popular career options in the domain of finance, Sanjay Goyal.
The commerce ministry has sought a review of foreign direct investment policy in the pharmaceutical sector, in the light of recent takeovers of domestic companies by multinationals.
International coffee chain Starbucks will send a revised application to the department of industrial policy and promotion for an entry into the Indian market.
Telangana and Haryana are at the second and third positions. Others in the top ten are Jharkhand (4), Gujarat (5), Chhattisgarh (6), Madhya Pradesh (7), Karnataka (8), Rajasthan (9) and West Bengal (10).
The department of science and technology, Confederation of Indian Industry and Intel on Wednesday signed a statement of intent with a view to promote culture of inventions and innovations among students and youth of the country.
The two groups have another JV, Wadia BSN, set up in 1996 to launch Groupe Danone's products from its global portfolio. However, nothing has been launched through the JV till date and Danone is in negotiations with the Wadias to dissolve the JV.
Coming out strongly in defence of foreign direct investment in retail, the ministry of commerce and industry has told the Prime Minister's Office that there is no empirical evidence to suggest that organised retail would adversely impact small retail
Promoting ethanol-friendly cars, turning river Ganga into a waterway and rolling out 50 stalled road projects are three top agendas for him.
But, majority might be left out, as only those investing in entities recognised by the government could qualify
Out of the total 22 tableaux, 16 were of various states and UTs and six of ministries, departments and the National Disaster Response Force.
The 4 week online learning programme is available in English and Hindi, and will soon be offered in some regional languages.
A senior CAPF commander privy to the development said the forces have discussed the "challenges and opportunities" that can come with transgenders in the officer ranks.
Clarifying norms for single brand retail trading, government on Tuesday allowed foreign investors to conduct business through more than one joint venture in India.
For insurance intermediaries like brokers, insurance repositories, third-party administrators, etc, 100 per cent FDI may be permitted.
As Amazon India, Flipkart are forced to shut down 60 categories and push out 45 mn products, a new lobby group comprising sellers is in the making to take up e-com concerns.
Idea may have to shell out Rs 4,500 crore in cash
With the abolition of the Foreign Investment Promotion Board (FIPB), Amazon's proposal will now be vetted by the Department of Industrial Policy and Promotion (DIPP) under the commerce ministry.
The Cabinet can take a decision on the matter only after the Election Commission's approval.
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After a high-level meeting held on Friday chaired by Prime Minister Manmohan Singh, it has been decided that the Commerce and Industry would soon start a consultation process to address 'dangers inherent' in the current model of FDI in brownfield pharma units.
Most states have urged the Union consumer affairs ministry to set up a retail regulatory authority before opening up the sector for Foreign Direct Investment (FDI). These views form part of the report, prepared by the ministry after seeking the views of states.
Relax fiscal consolidation, boost public capex and reduce cost of finance, industry tells Centre
Most of the large Indian IT services players, such as TCS, Infosys, Wipro, and HCL Tech, have signalled increased offshoring efforts and opting for local hires in the US, primarily to address the immigration-related challenges.
Plugging policy loopholes, the Indian government has spelt out the rules for FDI-funded wholesale or cash-and-carry trading ventures, restricting their merchandise sale to registered retailers and not directly to consumers.
The government on Saturday made its prior approval mandatory for foreign investments from countries that share land border with India to curb 'opportunistic takeovers' of domestic firms following the COVID-19 pandemic, a move which will restrict Foreign Direct Investment from China.
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