Insurance firms want more clarity before increasing foreign partner's stake.
The bilateral trade grew by 4.6 per cent from $68.4 billion in 2011 to $ 71.6 billion in 2012.
Overseas investors have pulled out a net Rs 1,14,855.97 crore from the Indian markets in the current year so far, amid heightened geopolitical tensions and inflation concerns. Foreign portfolio investors have sold domestic equities worth Rs 48,261.65 crore so far this month, taking the year-to-date tally this year to a massive Rs 114,855.97 crore, according to depositories data. The exodus of foreign investors was largely owing to inflationary pressures and deepening global macroeconomic conditions following the Russia-Ukraine war, experts said.
'Last year, India exported more software than Saudi Arabia exported oil.' 'Last year India got $83 billion of private equity.' '50 percent of India's FDI has come in the last five years.'
Cabinet nod not required after commerce ministry approval.
The broader NSE Nifty index too finished lower by 4.80 points, or 0.05 per cent, at 10,632.20.
Reserve Bank Governor Shaktikanta Das on Wednesday said in the wake of appreciating US dollar, the movement of rupee has remained least disruptive as compared to its peers, and the size of foreign exchange reserve is comfortable. On a financial year basis (from April to October 2022), the rupee has appreciated by 3.2 per cent in real terms, even as several major currencies have depreciated, he said while announcing the latest set of bi-monthly monetary policy. "The story of the rupee has been one of India's resilience and stability," the Governor said while pointing out that the appreciation of the US dollar this year, which precipitated large-scale depreciation of all major global currencies including the Indian rupee, has drawn wide attention.
Singapore-based e-commerce platform Shopee - that launched in India only in December 2021 - has decided to close operations in the country. The official reason given by Shopee, which is controlled by NYSE-listed Sea Ltd, is changing global sentiments. In a statement, it said, "In view of the global market uncertainties, we have decided to close risks of our early-stage Shopee India initiative." The e-commerce platform has been hit by growing opposition from trade associations led by Praveen Khandelwal as well as homegrown social commerce start-ups.
The new PN3 norms and lack of clarity on what constitutes beneficial ownership are the primary reasons for the decline in investments from China and Hong Kong.
Fintech and venture capital firms such as Recur Club, Razorpay and Trifecta Capital have come to the aid of homegrown start-ups caught in the crossfire of the Silicon Valley Bank fiasco. Alternative funding platform Recur Club said it was allocating $15 million to all Indian founders affected by the crisis. It will not charge any platform fee for the same.
India's economy could prove to be the "most resilient" in the subregion of South and South-West Asia over the long term, according to a report by the UN, which says a positive but lower economic growth post COVID-19 pandemic and the country's large market will continue to attract investments. The report titled 'Foreign Direct Investment Trends And Outlook In Asia And The Pacific 2020/2021', and compiled by United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), stated that inward FDI flows to South and South-West Asia slightly decreased by 2 per cent in 2019, from $67 billion in 2018 to $66 billion in 2019. The growth, however, was mainly driven by India, which accounted for 77 per cent of the total inflows to the subregion and received $51 billion in 2019, up 20 per cent from the previous year.
Inflow of more funds is likely to widen the reach of insurance and drive M&A activities in the sector where growth has stalled.
In this round, the market has won. But it is still for Gautam Adani to decide whether he has lost or not, argues Shekhar Gupta.
The Centre plans to create a special window for strategically important investors such as sovereign wealth funds and pension funds that wish to invest over Rs 3,000 crore through a single transaction.
Whatever the critics may say, the numbers suggest that India continues to be a favourite destination for foreign investors.
The probe is being conducted under various sections of the Foreign Exchange Management Act (FEMA) after the central probe agency recently received a communication from the commerce ministry seeking "necessary action" against e-commerce players like Amazon and Flipkart pertaining to certain multi-brand retail businesses and an observation made by the Delhi High Court in relation to Amazon.
The drop was the result of the change in FDI rules, which was amplified by the border standoff between India and China.
'The business continuity clause will mean the Tatas will have to keep running the airline for three years, and cannot exit the flying business.'
It said equity injection by foreign retailers is likely to improve the capital structure of their Indian peers, to help part-fund future capex requirements.
Bhargavi Zaveri & Radhika Pandey explains how complexities of foreign exchange rules are used by India Inc to dispute contractual obligations.
The race for space has got real, and it is attracting funding like never before. In 2022 so far, funding to private players in the space sector has jumped a whopping 61.5 per cent - soaring to $108.52 million compared to $67.2 million in 2021. Propelling it is the government's decision to open up the space sector to private players and the work done by companies like Skyroot Aerospace, the Hyderabad-based start-up behind the launch of India's first privately developed rocket on November 18.
The government made these changes in the third edition of the Consolidated FDI Policy Circular, a ready reckoner on foreign investment-related regulations that was released in New Delhi on Thursday.
If you thought that international cable television majors such as Liberty Media and Comcast Corporation will line up to invest in the Indian cable TV industry after the government's proposal to allow 74 per cent foreign equity in cable, think again. The buzz is that the government is in a mood to raise the foreign equity bar for the cable industry from the current 49 per cent to 74 per cent.
The net outward foreign direct investment went up from $9.1 billion in 2017-18 to $12.6 billion in 2018-19 and moved further north to $13 billion in 2019-20.
Experts said the rules will help curb market manipulation and money laundering, which could take place during the transfer of shares between residents and NRIs.
'We are most bullish on all aspects of the financial sector -- private sector banks, even one state-owned bank, insurance, mortgage finance, broking, wealth management, gold finance, etc.'
Despite the government's intention of attracting more FDI, the initiatives so far seem to be lacking pace.
'Earlier-than-expected tapering from the US, followed by rate hikes, and locally, a potential third wave, which mimics the second wave in terms of severity.'
Simple fact is that this will not be enough to get pools of long-term funds interested in India again.
The Government on Thursday approved 48 foreign direct investment proposals aggregating Rs 793.90 crore (Rs 7.94 billion), including Reliance Energy's Rs 450 crore
International Finance Corporation will take up 18 per cent stake in domestic stocks and commodities brokerage firm Angel Infin Pvt Ltd for Rs 152 crore. US-based Goldman Sachs and Australia's Macquarie will pick 40 per cent stake in PTC India Financial Services Ltd, a non-banking financial arm of power trading firm PTC India Ltd, for Rs 155.74 crore (Rs 1.55 billion).
Market watchers believe that the change in guidelines fly in the face of some of the recent initiatives taken by the government, such as easing norms for foreign portfolio investors.
Move to impact joint ventures in telecom, insurance, broadcasting.
Investors became richer by over Rs 6.34 lakh crore on Monday as markets gave a big shout-out to the Budget 2021-22, which analysts termed as 'unprecedented' against the backdrop of the pandemic-induced slowdown. Cheering the Budget proposals, the BSE benchmark Sensex zoomed 2,314.84 points or 5 per cent to close at 48,600.61. During the day, it jumped 2,478.63 points to 48,764.40. This was the best Budget-day gain for the markets since 1997, analysts said. Following the extremely positive market sentiment, the market capitalisation of BSE-listed companies rallied Rs 6,34,069.67 crore to Rs 1,92,46,713.70 crore.
Reliance Industries Ltd (RIL) chairman Mukesh D Ambani on Wednesday said the latest reforms and relief measures will enable the telecom sector to achieve goals set under the Digital India mission. The Cabinet has announced several reforms for the telecom sector, including redefining adjusted gross revenue (AGR) that will now include revenues earned only from telecom services. The government calculates various levies on AGR. "The telecom sector is one of the prime movers of the economy and the key enabler for making India a Digital Society, I welcome the Government of India's announcement of reforms and relief measures that will enable the industry to achieve the goals of Digital India. I thank Prime Minister (Narendra Modi) for this bold initiative," Ambani said.
Intermediaries, TPAs will also benefit, but investments will be under 26% FDI cap
The e-commerce companies believe the government is using this exercise to take an unauthorised look into their financials, shareholding and operations.
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