Tesco, which has sought the government's permission to buy 50 per cent stake in Tatas-owned Trent Hypermarket Ltd, will have to invest atleast $55 million in creation of fresh back-end infrastructure.
The Department of Industrial Policy and Promotion is closely working with the Reserve Bank of India, DIPP's joint secretary Gopal Krishna told reporters in New Delhi at a Confederation of Indian Industry function.
India, at present allows 51 per cent FDI in single brand retail and 100 per cent in the cash-and-carry .
At present, a project with investment of more than Rs 600 crore in sectors routed through the Foreign Investment Promotion Board has to be referred to the Cabinet Committee on Economic Affairs.
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.
Govt recently relaxed sourcing norms for FDI in single brand retail.
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".
Cap in single-brand retail likely to be 74%.
Tusk Investment, Mauritius, a wholly owned subsidiary of private equity firm Elephant Capital, has sought approval from the Foreign Investment Promotion Board (FIPB) to acquire a 30 per cent stake in Amar Chitra Katha Pvt Ltd (ACK).
The government is considering a proposal to allow 100 per cent foreign direct investment into the country's defence sector, despite stiff opposition from the defence ministry that has raised security concerns.
The clearances are for three proposals submitted to the Foreign Investment Promotion Board by Bharti Telemedia, which offers direct-to-home television services, Tata Teleservices, in which Japan's DoCoMo has picked up 27.3 per cent equity, and SKR BPO Services, which has made downstream investments in Sparsh BPO. Press notes 2 and 4, issued in February this year, changed the way indirect foreign equity is treated while computing the total foreign investment.
With the shifting of the Foreign Investment Promotion Board to the finance ministry, the government has now reconstituted the board appointing Finance Secretary S Narayan as its chairperson.\n\n\n\n
The Department of Industrial Policy and Promotion (DIPP) has finally sanctioned the proposal of allowing foreign direct investment (FDI) from Pakistan. But the final notification will be issued by the Reserve Bank of India (RBI) within the next couple of weeks. The move will be unprecedented in the bilateral trading relations between both the nuclear-armed neighbours.
The finance ministry is of the view that all interests -- direct and indirect -- should be taken into account and that there should not be any threshold for calculating total effective foreign shareholding in a company.
Move to impact joint ventures in telecom, insurance, broadcasting.
Spurring the economy, currently in the throes of a slowdown, remains the prime focus for most ministries, but the government is also looking to make women's welfare and environmental protection key to policymaking in this term.
Foreign Direct Investment (FDI) as a source of funding has shrunk to a trickle for the once lucrative telecom sector with foreign investment inflows plunging to $43 million in the April-September period of the current fiscal.
The commerce and industry ministry had moved a Cabinet note to allow foreign carriers pick up equity in their Indian counterparts.
He also pointed out the high sums earned by the coaching centres leading to the commercialisation of education.
The queries can now be addressed to and their responses accessed from the makeinindia.com website that was unveiled along with the campaign aimed at making India a manufacturing hub by Modi at a mega event in New Delhi on Thursday.
India received foreign direct investment (FDI) worth $1.79 billion in February, 2013 -- a decline of about 19 per cent due to global economic slowdown.
Notwithstanding its inability to open multi-brand retail for foreign investment, government on Tuesday notified 100 per cent FDI in single-brand retail, paving way for global chains like Adidas, Louis Vuitton and Gucci to have full ownership of their India operations.
Sources said the people would be hired at different levels, including application examiners.
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.
Govt has done away with the need to secure crucial permits.
The Department of Industrial Policy and Promotion under the commerce ministry has floated a draft Cabinet note for inter-ministerial discussions on foreign direct investment in aviation.
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.
Foreign inflows, in August 2012, had declined by 20 per cent to $2.26 billion after registering an increase in July at $1.47 billion.
In a consultation paper issued on Tuesday, the department of industrial policy and promotion sought comments on whether FDI should be restricted to LLPs operating in sectors without any investment caps, conditionalities or entry route restrictions.
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.
US retail giant Wal-Mart, which has signed a joint venture with the Bharti Group for wholesale cash and carry business, will restrict itself to technical support and training in Sunil Mittal firm's foray into retail.
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.
FIPB split over Bates' Sercon stake buy. Ravi Shastri's firm alleges violation of Press Note 1.
The petroleum ministry has recommended a hike in the foreign direct investment cap in government-owned refineries to 49 per cent from the current 26 per cent.
After declining for two months in a row, foreign direct investment (FDI) in India grew by 8 per cent year-on-year to $2.15 billion in January.
The finance ministry has given its consent to the draft Cabinet note on opening the multi-brand retail to foreign investment, an official said.
Coming out strongly in defence of foreign direct investment in retail, the ministry of commerce and industry has told the Prime Minister's Office that there is no empirical evidence to suggest that organised retail would adversely impact small retail
