To help consolidate India as a major global power, the Manmohan Singh-led United Progressive Alliance (UPA) government will unveil a new policy to promote Indian companies in international markets.
A committee of secretaries will be meeting soon to consider a draft proposal, which suggests that decision-making on all policy issues pertaining to FDI be transferred from the Department of Industrial Policy & Promotion (DIPP) in the Ministry of Commerce to the Department of Economic Affairs (DEA) in the Ministry of Finance.
AirAsia's Fernandes says CEO for India will be an Indian; proposed airline firm with Tata may hit ministry hurdle
Retailers can buy existing facilities if they spend $50 mn to create additional infra.
Soft drinks and foods major Pepsico India Holdings Pvt Ltd has applied to the Foreign Investment Promotion Board to invest an additional $200 million (around Rs 950 crore) as equity in its Indian operations.
The Department of Industrial Policy & Promotion and Planning Commission member Arun Maira are sticking to their guns on foreign direct investment in the pharmaceutical sector.
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.
This was in response to the assertion of some officials of the finance ministry and the Department of Industrial Policy & Promotion that a strategically placed comma in DIPP's press note on FDI in civil aviation meant foreign airlines were allowed to hold up to 49 per cent stake in existing Indian carriers, as well as new airline companies being set up.
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.
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".
Inflation based on the wholesale-price-index remained unchanged at 6.46 per cent for the week ended March 17 when compared to the week before. In fact, inflation is now unchanged for the last three weeks.
The company has pointed at the possibility of fines and financial penalties.
Tesco was the first global retailer to apply for multi- brand retailing in India.
It rained investments on India as the Make In India programme, envisioned by Prime Minister Narendra Modi with a focus on the manufacturing sector, raked in Rs 15,20,000 crore in committed investments.
The CAIT has complained to the Commerce Ministry to take action against these companies.
US said access to affordable health care entails a large number of factors from rates, logistics to insurance reforms.
India is one of the largest defence importers.
But completion occupancy certificates to be mandatory.
A panel headed by Economic Affairs secretary Arvind Mayaram had suggested FDI limit be raised to 49 per cent in almost all sectors through the automatic route.
The commitment by Japan to invest $35 billion or 3.5 trillion YEN is for infrastructure sector over five years.
Nike has been present in India since 1996.
The coal ministry is likely to send the final list of files pertaining to coal blocks allocation which could not be located by Friday.
The maker of the iPhone and the iPad has made a proposal to the government for a wholesale foray.
While number of commitments inched up in 2015, its value slipped 23% to 11-year low.
The government is believed to be working on a strategy to resolve the matter related to Wednesday's Supreme Court order asking Samsung Electronics Chairman Lee Kun-hee to appear within six weeks before the Ghaziabad trial court in a pending payment case.
Rediffusion took the industrial elements of the lion mascot to create a laman diya or lamp.
Government planning to slash the number of days required to start a business in Mumbai, Delhi from the current 26.
In his meeting with the secretaries of all government departments, Prime Minister Narendra Modi gave the top bureaucrats space and time to voice their expectations from the new administration besides listing areas needing urgent attention.
Idea may have to shell out Rs 4,500 crore in cash
Modi will get the maximum chunk of the session time.
To fly 10 start-ups to San Francisco HQ of the company
It is watching e-commerce policy fineprint before spelling out India plan
Relax fiscal consolidation, boost public capex and reduce cost of finance, industry tells Centre
The finance ministry is resisting pressure from other departments to cap foreign ownership of domestic drugmakers, fearing such a move would discourage potential investors, a senior ministry source said.
Several CII defence committee members confirm this is now the official CII position, which conforms to that of industry bodies, Ficci and Assocham.
While the FIPB has sought more transparency on whether the rules concerning effective control would be followed once the deal fructifies, the Finance Ministry has also written to Sebi for a report on the Jet-Etihad deal, official sources said Wednesday.
Since August 2013, FIPB has approved two FDI proposals in the telecom sector.
FDI in the defence sector during 2000-2014 has been a meagre $4.94 billion, despite the total FDI flow into the country across sectors standing at $321.81 billion.
Domestic food companies, too, continue to bet on packaged foods.
The one-year extension would give Walmart and its Indian joint venture partner in the cash and carry business, Bharti Group, more time to sort things out and decide on a retail foray together, people in the know said.
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