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Govt unveils reforms that cuts down time and bureaucracy.
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".
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.
The central bank may classify them as foreign-owned Indian banks.
The company has set an internal target of 6-18 months to set up the data centre. The plan is part of the $1 billion ByteDance has recently committed to the Indian market over the next three years.
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 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).
To tap into the growing demand for offices, several global and Indian co-working entities are creating stock in the top cities.
While asserting that the growth of coronavirus cases in the country has been more or less linear and not exponential, it also said testing has been ramped up consistently.
The FIPB, headed by Department of Economic Affairs Secretary Arvind Mayaram, discussed 30 foreign direct investment proposals, including 10 from pharma sector.
The hotels in the pipeline will include a range of Marriott brand portfolios such as JW Marriott, Tribute Portfolio and Sheraton.
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.
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.
'Sholay wallah kahani hai: 'Gabbar Singh aayega, Gabbar Singh aayega.' 'But what is inside Gabbar Singh nobody knows.'
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.
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.
Foreign direct investment limit in insurance sector is likely to be hiked to 49 per cent only after the Lok Sabha elections.
100 per cent FDI is now allowed in almost every major TV distribution form (direct-to-home, cable, headend-in-the-sky, multi-system operators) and 49 per cent in TV news.
One of the beneficiaries is Jindal Steel and Power, which had earlier been kept out of procurement for rails
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.
Move to make investing in sectors with FDI cap easier.
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.
Three years and Rs 28,710 crore worth of transactions later, it has more than double the number of sellers than Flipkart.
In less than two months since the announcement in March, the state has mobilised an armada of small and medium enterprises keen on making components for large equipment manufacturers.
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.
Nokia's Chennai plant is under freeze over tax dispute.
Jai Corp Ltd, promoted by Reliance Industries Ltd chairman Mukesh Ambani's confidant Anand Jain, on Friday said that it has complied with requirements laid down by the Income Tax department and that nothing was found from the chairman's residence during searches on Thursday.
In June 2008, the FDI inflow was USD 2.39 billion. However, the total foreign investment inflows during April-June contracted by over 30 per cent to $7.02 billion over the same quarter of 2008-09.
This was part of a set of clarifications issued by DIPP on the norms to be used to treat downstream investments by Indian companies which have foreign equity, termed Press Note 4. Investing company means an Indian one holding only investments in other Indian companies. Foreign owned or controlled means either having foreign ownership in excess of 50 per cent or non-residents having powers to appoint a majority of board members.
The ruling mean FPIs cannot seek treaty protection against the new withholding tax that companies are required to deduct at source. The apex court order pertains to when the cricketing bodies of Pakistan, India, and Sri Lanka formed a joint committee to conduct the 1996 Cricket World Cup.
The Department of Telecom, Department of Industrial Policy and Promotion, Ministry of Home Affairs, Ministry of External Affairs and the Department of Economic Affairs had to give their comments on the proposal, sources said.
The event will aim at drawing foreign investment in startups and push local partnerships.
From Sri Lanka's most popular political family to its most despised -- going by the voices on the streets calling for the Rajapaksas' ouster -- what went wrong for the clan? Veteran Sri Lanka watcher N Sathiya Moorthy offers an insight.
A combination of externalities such as global trade wars and slowing growth, continuing glitches in accessing offsets under the GST regime, which has created a liquidity crunch for smaller exporters, and the growing competitiveness of smaller countries are causing the slowdown.
The government should stick to the recent clarifications released on FDI in multi-brand retail trading and not ease the conditions for foreign retailers.
Mukesh Ambani said he had never seen any city decked up so strikingly as Lucknow
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