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).
The government will release the revised consolidated FDI policy paper, a ready reckoner on foreign investment related regulations for overseas investors, on September 30.
The Department of Industrial Policy and Promotion has been working on the draft for the last several months. The areas coming up for review may include sports goods and airport ground handling services, besides gas and petroleum.
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).
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.
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.
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 commerce and industry ministry has informed the Prime Minister's Office that the Bharti Group has conveyed to the government that its joint venture with Wal-Mart was in compliance with the existing FDI policy.
But, majority might be left out, as only those investing in entities recognised by the government could qualify
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.
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A financial analyst is one of the most popular career options in the domain of finance, Sanjay Goyal.
Inter-ministerial body Telecom Commission on Tuesday approved hiking foreign direct investment limit in the sector from 74 per cent to 100 per cent.
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It, however, does not manufacture devices on its own and rather does it through contract manufacturers.
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 new Consolidated Foreign Direct Investment Policy, effective from April 1, limits FDI in defence units to 26 per cent. But the Department of Industrial Policy & Promotion of the commerce ministry is in favour of raising this limit.
To further simplify the foreign investment regime, the Department of Industrial Policy and Promotion proposes to ease investment norms for foreign companies that have existing joint ventures or technical collaborations in India.
India has emerged as the second largest manufacturer of cement in the world, according to a latest report released by the Ministry of Commerce and Industry.
For insurance intermediaries like brokers, insurance repositories, third-party administrators, etc, 100 per cent FDI may be permitted.
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.
Bankers of HPL too have endorsed the idea and are pitching hard for the chairmanship of Chatterjee.
Out of the total 22 tableaux, 16 were of various states and UTs and six of ministries, departments and the National Disaster Response Force.
Despite public-private partnership projects announced in several rail budgets, the investment since 2000 has been merely Rs 3,000 crore.
India, at present allows 51 per cent FDI in single brand retail and 100 per cent in the cash-and-carry .
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.
Many state governments are ready with policies to promote entrepreneurs, backed by funding plans
Foreign direct investment in the multi-brand retail may be allowed subject to a stiff condition that global retailers will have to invest heavily in the back-end infrastructure like warehousing and cold storage.
The economy clocked a robust 7.9 per cent growth in the second quarter, catapulted by a stimulus packages-powered strong industrial growth. And, manufacturing grew by 9.2 per cent against 5.1 per cent in the year-ago quarter.
The other sectors where inflows have declined include pharmaceuticals ( $680 million).
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.
Cement makers have agreed to hold prices for a year, but refused to roll back the recent price hike, Commerce and Industry Minister Kamal Nath said on Friday.
In a major reform push, government on Thursday approved 100 per cent foreign direct investment (FDI) in the telecom sector, meeting a key demand of the fund-starved industry.
The government on Friday said it has started implementing liberal FDI rules under which proposals up to Rs 1,200 crore (Rs 12 billion) foreign equity would be cleared by the Finance Minister without seeking approval of the Cabinet Committee on Economic Affairs.
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