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.
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.
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 government should stick to the recent clarifications released on FDI in multi-brand retail trading and not ease the conditions for foreign retailers.
The country's top three venture debt firms -- Alteria Capital, Innoven Capital, and Trifecta Capital -- combined deployed about $300 million (Rs 2,200 crore) in start-ups such as BigBasket, Cure.fit, Ninjacart, Dunzo and Lendingkart till April end, according to the government's Investindia website.
Nokia's Chennai plant is under freeze over tax dispute.
FDI in drugs and pharmaceuticals was $487 million during April-August 2012, according to the latest data of the Department of Industrial Policy and Promotion.
Approval comes 6 months after Swedish clothing giant applied for India entry; FIPB now to consider on Oct 18.
Move to impact joint ventures in telecom, insurance, broadcasting.
At a time when the world economy is facing the worst credit freeze in several decades, India attracted $2.7-billion FDI in January, up 58.8 per cent from a year ago, and remained a favourite destination for cross-border investments.
India is set to attract foreign direct investment of $40 billion in fiscal 2008-09 with overseas investors betting big on the manufacturing sector in the world's second fastest growing economy.
The event will aim at drawing foreign investment in startups and push local partnerships.
The Election Commission (EC) has raised certain questions on the government's proposal to allow foreign direct investment (FDI) in the construction and maintenance segments of the railways.
Retail, telecom, media and a host of sectors in which foreign direct investment is restricted stand to gain from changes in FDI policy that the Cabinet Committee on Economic Affairs cleared on Wednesday linking approvals to the concept of control for the first time.
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.
According to sources, the Department of Industrial Policy and Promotion and Ministry of IT have supported the reserve price of Rs 2,020 crore (Rs 20.2 billion) as was originally recommended by DoT. Last week, the finance ministry had asked the DoT to double the reserve price for pan-India 3G spectrum.
Nokia may be allowed to sell Chennai mobile plant.
One of the beneficiaries is Jindal Steel and Power, which had earlier been kept out of procurement for rails
Make in India has seen an overwhelming response on its digital platforms like Facebook and Twitter since its launch just 3 months ago.
But it is disappointing to note that Sitharaman's third Union Budget continues to promote a few problematic ideas, observes A K Bhattacharya.
Services attracted the most FDI during the first eleven months period of 2015-16.
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 government has put the process of certification of foreign cement manufacturers on a fast track to facilitate import of the building material in the country to meet the growing demand and tame prices.
Nitish Kumar-led Bihar is followed by Telangana and Jharkhand.
The hotels in the pipeline will include a range of Marriott brand portfolios such as JW Marriott, Tribute Portfolio and Sheraton.
Mukesh Ambani said he had never seen any city decked up so strikingly as Lucknow
The proposal for setting up a National Tourism Promotion Board seems to have become unviable with stakeholders showing reluctance in accepting a parallel authority when Department of Tourism was doing the same task.
Foreign Direct Investment into the country declined by about 38 per cent, year-on-year, to $2.91 billion in September, according to the Department of Industrial Policy and Promotion.
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 DoT estimates that it will receive Rs 29,524 cr in revenue from the telecom industry in FY18, which is 38% less than the Budget revenue target of Rs 47,300 cr for FY18
The land price collected for the said land allotment will be refunded.
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.
Three years and Rs 28,710 crore worth of transactions later, it has more than double the number of sellers than Flipkart.
The US side had pushed for removal of price caps on medical equipment such as coronary stents and a commitment by India to reduce trade imbalance
Rediffusion took the industrial elements of the lion mascot to create a laman diya or lamp.
De is an attorney at the Washington, DC, office of the international law firm Mayer, Brown, Rowe and Maw.
