Many state governments are ready with policies to promote entrepreneurs, backed by funding plans
The other sectors where inflows have declined include pharmaceuticals ( $680 million).
India on Tuesday mooted a marketing policy for the sector though domestic players opposed any move to allow overseas investments in the retail space.
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.
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.
For insurance intermediaries like brokers, insurance repositories, third-party administrators, etc, 100 per cent FDI may be permitted.
Department of Industrial Policy and Promotion secretary Ajay Shankar told PTI, "India is emerging as a globally competitive manufacturing hub for small fuel efficient cars." Shankar, who was in London to interact with the UK-India Business Council and the India Business Forum, said, though, export-oriented small and medium enterprises have been severely hit, 'fortunately the auto-sector in India has revived.'
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.
Foreign direct investment (FDI) in India has declined by six per cent to $5.47 billion during January-March quarter of the current calender year even as government is making efforts to promote the country as an investment destination.
The ban has been in force since last Friday.
In 2011-12, 2010-11 and 2009-10, the sector attracted FDI worth $1.99 billion, $1.66 billion and $2.55 billion respectively.
On December 21, MHA promulgated a draft Arms and Ammunition Manufacturing Policy, which allows the Department of Industrial Policy & Promotion (Dipp) to issue licence to large private companies that are capable of producing advanced weapons, and invest over Rs 50 crore (Rs 500 million), to manufacture arms and ammunition to be "primarily supplied to the Central Paramilitary Forces, Defence and state governments on tendering basis".
Out of the total 22 tableaux, 16 were of various states and UTs and six of ministries, departments and the National Disaster Response Force.
.jpg)
Govt unveils reforms that cuts down time and bureaucracy.
Scheduled meetings of various Groups of Ministers have been postponed for the foreseeable future as key ministers in the United Progressive Alliance government turn their attention to political assignments for the Assembly polls in six states.
The central bank may classify them as foreign-owned Indian banks.
The study found out that in terms of tourism budget, Jharkhand ranks the highest with Rs 160 crore, compared to West Bengal's Rs 31 crore (Rs 310 million), Orissa Rs 44 crore (Rs 440 million), Bihar Rs 25 crore and Chattisgarh Rs 50 crore (Rs 500 million).
The spotlight is back on the hawala trade in diamonds.
Chaturvedi said the highest ever FDI flows received by the country were in FY12 at $35.12 billion while in four months of this fiscal alone we have crossed $10.75 billion.
ICICI Bank has asked the government not to take into account overseas securities like ADR and GDR when deciding on whether a bank is Indian or foreign.
Poultry prices are likely to start firming up in the next four weeks, when the examination season gets over and with the onset of summer in April.
Foreign investment cannot enter India through a circuitous route in sectors like multi-brand retail, atomic energy and the lottery business and will need to operate within the sectoral caps, according to new guidelines.
The FIPB, headed by Department of Economic Affairs Secretary Arvind Mayaram, discussed 30 foreign direct investment proposals, including 10 from pharma sector.
Aiming to push India into the list of the top 10 agri export nations, the policy has been backed by the Prime Minister's Office
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.
Financial details of the project, awarded by the department of industrial policy and promotion, were not disclosed. The eBiz Project announced on Tuesday is among the 27 central, state and integrated mission mode projects under the National e-Governance Plan of the Department of Information Technology. Under it, Infosys will also do training, workshops, promotion and awareness campaigns.
Foreign direct investment limit in insurance sector is likely to be hiked to 49 per cent only after the Lok Sabha elections.
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.
The wholesale price-based inflation stands at 9.9 per cent in March, but many analysts criticise the compilation of data, saying it includes several items that are no longer in vogue.
Undeterred by global credit freeze, India maintains a bullish outlook on attracting foreign direct investment which may be governed by easier rules, a top government official said.
India is estimated to have received FDI of $27.5 billion in 2008-09, up from $24.57 billion in the previous year. Though the cumulative increase for 2008-09 is small, it is considered a positive development, given the fact that the global financial crisis is the worst.
The three promoters - Anil Kumar Sharma, Ajay Kumar and Shiv Priya - had diverted Rs 1,500-1,600 crore through bogus methods like loans and advances between group firms at inflated rates.
Move to make investing in sectors with FDI cap easier.
To tap into the growing demand for offices, several global and Indian co-working entities are creating stock in the top cities.
The relaxation will apply to those sectors that have composite caps (foreign direct investment or FDI plus FII). "The move will not impact sectors like banking and insurance which are governed by Acts of Parliament. However, sectors with composite caps which see administrative control like telecommunication services, broadcast services like direct-to-home and FM radio will benefit," a Delhi based FDI policy expert told Business Standard.
The inflation rate has been falling at a steady pace, after peaking at 12.83 per cent for the week ended August 16, 2008, mainly due to declining commodity prices. However, on a week-on-week basis, the WPI rose marginally by 0.04 per cent, due to increase in prices of certain articles, including food products like fruit and vegetables, condiments and spices as well as some processed food items.
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.
