Trinamool Congress Monday said Left's failure to support a no confidence motion to be brought by it in winter session will mean that their opposition to FDI in multi-brand retail "is false and sham" and voiced hope that all parties would come on board.
A Cabinet minister tells Sheela Bhatt that Prime Minister Manmohan Singh has taken a gamble on the FDI in retail issue and insists that the Congress party is with him.
A Cabinet minister tells Sheela Bhatt that Prime Minister Manmohan Singh has taken a gamble on the FDI in retail issue and insists that the Congress party is with him.
Senior Congress leader Anand Sharma on Wednesday denounced the Modi government's decision to allow 100 per cent foreign direct investment in defence sector by easing norms, saying the prime minister was working under pressure from the United States and his party would oppose it in Parliament.
After supermarket giant Walmart, it is online retail major Amazon which has begun lobbying with the US lawmakers to seek their support for facilitating its "foreign direct investment in India".
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.
With EU, it is part of the FTA that we will need to negotiate.
Bentonville-based Walmart has also raised apprehensions about the ongoing probe by investigating agency Enforcement Directorate, said an internal note of the Department of Industrial Policy and Promotion.
Delegates of all G20 countries, barring China, arrived in Srinagar on Monday for the third working group meeting on tourism -- a much-anticipated event for which authorities have made extensive security arrangements and spruced up the summer capital of Jammu and Kashmir.
Prominent e-commerce marketplace players include Amazon.in, Flipkart, Snapdeal, Paytm, Shopclues and Jabong
India's outward foreign direct investment (OFDI) nearly halved to $3.39 billion in April on an annual basis, as per data released by the RBI on Monday. The OFDI stood at $6.71 billion in April 2021. On sequential basis too, the outward investment from India in April was lower compared to $3.44 billion in March 2022.
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.
The FDI inflows in July 2009 were $3.51 billion. Contrary to smart recovery in the domestic economy and a rebound in exports, overseas investment show a slackening trend in the current fiscal, an official told PTI.
The FIPB, headed by Department of Economic Affairs Secretary Arvind Mayaram, discussed 30 foreign direct investment proposals, including 10 from pharma sector.
While India allows 100 per cent FDI in a large number of the sectors, there is a ceiling on foreign investment in sensitive segments like multi-brand retail, insurance, defence and telecom.
Cash-strapped telco Vodafone Idea's proposal for investment of up to Rs 15,000 crore through foreign direct investment (FDI) has been approved by the Union government, according to officials. A top-level group, comprising representatives from the ministries of home affairs, external affairs, finance and commerce and industry, took the decision. The nod, which is an enabling provision, would help the financially-stressed company raise funds to pay up some of its dues linked to adjusted gross revenue (AGR), reduce debts and use the money for operational expenses.
Commerce Minister Anand Sharma on Monday expressed optimism that the total FDI inflows this fiscal will the same as in the previous year's at $27 billion.
Prime Minister Manmohan Singh on Monday reached out to Jayalalithaa-led All India Anna Dravida Munnetra Kazhagam to seek its support on the issue of foreign direct investment in multi-brand retail.
FDI is essentially long-term investments that come with added benefits such as better technology, management and marketing assistance, says the study.
The decision to allow 51 per cent foreign direct investments in multi-brand retail has been put on hold by the government following strong objections from the Opposition and key United Progressive Alliance allies Trinamool Congress and Dravida Munnetra Kazhagam.
The fDi Personality of the Year awards recognise the political and business leaders around the world who have been the most proactive, dynamic and innovative in securing foreign investment and improving the business environments of their jurisdictions.
In February, 2010, India attracted foreign direct investment (FDI) worth $1.7 billion. During the 11-month period from April, 2010, to February, 2011, FDI inflows into India declined by 25 per cent to $18.3 billion, which makes it imperative for the country to fine-tune its policies to attract overseas investment.
The United Progressive Alliance government had opened the multi-brand retail sector for foreign investment and allowed up to 51 per cent foreign direct investment in the sector.
Inter-ministerial body Telecom Commission on Tuesday approved hiking foreign direct investment limit in the sector from 74 per cent to 100 per cent.
In July 2011, the country had received foreign investment worth $1.10 billion.
The decision to increase FDI in single brand retail was taken by the Cabinet on November 24 along with opening the gates for overseas investment in the multi-brand retail.
India needs to fully open its retail market to foreign investors in order to drive economic growth, although the subject was strictly taboo till last year because of pressure from the government's allies and livelihood concerns.
The bilateral trade grew by 4.6 per cent from $68.4 billion in 2011 to $ 71.6 billion in 2012.
Currently, 100 per cent FDI is permitted in brownfield pharma firms through clearance from the Foreign Investment Promotion Board.
Enthused by 174 per cent growth in services trade this year, India is readying to make an aggressive offer in the WTO negotiations on services.
Equity inflows worth $3.7 billion came from the sunny Caribbean jurisdiction in 2019-20, a 267 per cent increase from the $1 billion registered in 2018-19 making it India's 10th largest source of FDI.
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The new Insurance Bill may be implemented in 2015.
Prime Minister Narendra Modi on Thursday suggested the G20 trade ministers to work collectively to ensure equitable competition between large and small sellers as there are challenges in the fast growing cross-border e-commerce. In a video message at the G20 Trade and Investment Minister's meeting here, he also emphasised on the need to address the problems faced by consumers in fair price discovery and grievance handling mechanisms. "Digitising processes and use of e-commerce have the potential to enhance market access. "I am glad that your group is working on the 'High Level Principles for the Digitalization of Trade Documents'. These principles can help countries in implementing cross-border electronic trade measures, and reduce compliance burdens.
Will help to reduce current account deficit and restore growth.
Foreign Direct Investment inflows into India increased 47 per cent to $1.7 billion in April-June quarter this fiscal, compared to $1.1 billion in the same period last fiscal.
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 challenge for the RBI in 2024 is likely to be less about containing elevated inflation and more about curbing excessive financial market exuberance and a 'problem of plenty', notes Sajjid Chinoy, Chief India Economist JP Morgan.
United Progressive Alliance's second largest partner Dravida Munnetra Kazhagam on Monday demanded reconsideration of the decision to allow FDI in the multi-brand retail sector and said it would back any opposition-sponsored resolution that may be brought on the issue in Parliament.
India is one of the largest defence importers.
Foreign direct investment (FDI) inflows into India rose 54.8 per cent in November to $1.64 billion compared with $1.06 billion a year ago, a government statement
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