Buyers from 19 countries participated and showed interest in sourcing from India.
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.
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Single-brand retailers are also allowed to take e-commerce route for such trading.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
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.
Out of the total 22 tableaux, 16 were of various states and UTs and six of ministries, departments and the National Disaster Response Force.
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.
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.
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.
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.
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
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).
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.
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.
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.
International coffee chain Starbucks will send a revised application to the department of industrial policy and promotion for an entry into the Indian market.
But, majority might be left out, as only those investing in entities recognised by the government could qualify
For insurance intermediaries like brokers, insurance repositories, third-party administrators, etc, 100 per cent FDI may be permitted.
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.
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.
The 4 week online learning programme is available in English and Hindi, and will soon be offered in some regional languages.
Idea may have to shell out Rs 4,500 crore in cash
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.
Promoting ethanol-friendly cars, turning river Ganga into a waterway and rolling out 50 stalled road projects are three top agendas for him.
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.
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.
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
Clarifying norms for single brand retail trading, government on Tuesday allowed foreign investors to conduct business through more than one joint venture in India.
But it is disappointing to note that Sitharaman's third Union Budget continues to promote a few problematic ideas, observes A K Bhattacharya.
Relax fiscal consolidation, boost public capex and reduce cost of finance, industry tells Centre
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.
It, however, does not manufacture devices on its own and rather does it through contract manufacturers.
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 sector attracted foreign investments to the tune of $1,252 million during the year, a 12.8 per cent decline compared to $1,437 million registered in the previous year, according to latest data released by the Department of Industrial Policy and Promotion (see table).
To boost the 'Make in India' initiative, the Union home ministry has liberalised the Arms Rules to encourage investment in the manufacturing of arms, ammunition and weapon systems in the country.
The government will release the revised consolidated FDI policy paper, a ready reckoner on foreign investment related regulations for overseas investors, on September 30.
Some of these proposals came from big names of India Inc., such as Birla Cement, Steel Authority of India Ltd. and Jas Infrastructure and Power Ltd.
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