In recognition of his efforts in making India an attractive foreign direct investment destination, Commerce and Industry Minister Kamal Nath has been selected as the "Global fDi Personality of the Year
The Union Cabinet in its decision of November 24, which has since been put on hold, permitted 51 per cent FDI in the multi-brand retail, well above expectations of the Walmart and its Indian joint venture partner -- Bharti Group.
The stipulation that new front-end stores will have to be set up will impact M&A in the sector.
The push for FDI in retail by foreign interests smacks of the East India Company syndrome and Indians have the right to protest any attempt by a class of corporate cronies to rule India by proxy, says A Faizur Rahman.
The decision is likely to bring in at least Rs 5 lakh crore of fresh investments into the sector over five years by improving connectivity and competition
In India, these global retailers exported goods worth $725 million in 2010. Modern retail constitutes 6.5 per cent of the $435-billion overall Indian retail market.
The government said on Thursday said it will make it clear within 10 days whether foreign players be allowed to hold stake in stock exchanges or not.
The government on Friday said that the realisation rate of foreign direct investment inflows into India has been the highest in 2002 since 1991 at 191.08 per cent in rupee terms.\n\n\n\n
The world's largest retailer Walmart on Wednesday said its investments in India will grow manifold if foreign direct investment regulations on multi-brand retail are relaxed in the country.
The recent Cabinet decision to allow 51 per cent foreign direct investment in the multi-brand retail sector in India has deeply divided the nation's political, social and trading classes.
The time for allowing FDI in retail sector in India has not yet come. Such a move may end up hurting domestic interests, says Arun Jaitley.
Prime Minister Narendra Modi on Wednesday said that the country's economic growth is picking up pace again and the domestic industry needs to enhance its risk-taking appetite. Noting the recent reforms taken by the government, the Prime Minister said that bringing reforms is a matter of conviction for his government, which is ready to take all risks in the national interest. "We have taken bold decisions. Reforms continued even during pandemic. "The government is doing reforms not out of compulsion but out of conviction," he said while addressing the CII's annual meeting.
Accusing the opposition of spreading misinformation regarding policy initiatives taken by the United Progressive Alliance government, a combative Prime Minister Manmohan Singh on Sunday said reform measures, including FDI in retail, will benefit the common man and create more jobs.
India continues to be an attractive foreign direct investment destination to foreign investors despite controversies over special economic zones, a global investments expert said in New Delhi.
India on Tuesday mooted a marketing policy for the sector though domestic players opposed any move to allow overseas investments in the retail space.
We are already reading and watching news from around the world.
Observing that India has a low foodgrain productivity and inefficient distribution, he said increasing the scale of investments in organised retail is one way to increase productivity and distribution efficiency.
The real estate industry is divided over the impact of the proposed foreign direct investment (FDI) in multi-brand retail.
In ideologically discordant notes within Aam Aadmi Party, Captain Gopinath, pioneer of low-cost airline business, slammed the decision of AAP government in Delhi to reject FDI in retail, saying the party is "running in danger" of being branded like other parties of resorting to cheap and populist measures.
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The cap on FDI in retail has been totally removed, while the limit in insurance sector has been enhanced to 46 per cent.
The ongoing key reforms such as sops for manufacturing, easier labour laws, wooing FDI inflows and privatisation will help improve productivity and support long-term growth at 7.5-8 per cent levels, which if played out well, can help India contribute 15 per cent of global GDP growth by FY2026, says a report. According to a report pencilled by the India economist at UBS Securities, Tanvee Gupta Jain, the country has the lowest manufacturing costs among peers, even though China retains significant ecosystem advantages and despite that India and Vietnam appear most likely to benefit from a shift out of China.
Apprehending that the Samajwadi Party and the BGahujan Samaj Party would bail out the United Progressive Alliane on FDI in retail, the opposition in Lok Sabha on Wednesday warned these parties as also Dravida Munetra Kazhagam that history will not pardon them if they sided with the government on the issue despite opposing it during the nationwide protest.
"The figure is showing a recovery in the global markets, especially in European economies," an official said. Mauritius, Singapore, the US, UK, Netherlands, Japan, Germany and the UAE are the major investors in India.
Ministry officials said the matter is being reviewed with the objective of bringing down the FDI cap from 100 per cent to 26 per cent in line with the limit for news media. This decision for the review was taken while discussing the proposal of US-based Dow Jones and Company for setting up a wholly-owned subsidiary to carry out publishing the facsimile edition of Wall Street Journal in India.
The war in Ukraine has made its presence felt at the World Economic Forum's annual meeting in Davos. As political and business leaders' debate, they remain fearful of Europe's economic future. There is a sense of gloom among many business leaders as energy shortage and economic recession rear their heads. Global investors are keenly assessing the presence of Indian delegation at Davos.
Though the impact of the global meltdown would not be 'drastic' on India's economy, its recovery would be 'stretched', with the slowdown of FDI inflow, he said, delivering the Fedbank Hormis lecture on 'The Global Financial crisis and India's incomplete transformation' in Kochi on Tuesday, organised by Federal Bank. He said the fundamentals of the Indian economy were strong, value of exports was only 13 per cent of GDP.
While the Congress will firm up its strategy once the ruling alliance tables the Bill, initial comments by its leaders have been encouraging.
The agency said in a statement that a provisional order has been issued under the Prevention of Money Laundering Act "attaching bank accounts of Amnesty International India Pvt Ltd (AIIPL) and Indians for Amnesty International Trust (IAIT)".
It has been waiting in line with other global retailers like Carrefour and TESCO to tap the growing and lucrative Indian market.
Tightening the norms, the government has done away with automatic approval of foreign direct investment (FDI) in the existing pharmaceutical companies.
He said the policy paralysis, which had gripped the country in recent months, was over, and India was back in business.
Nike has about 400 stores in India.
White labeled ATMs are set up by private non-bank companies that own and operate their own brand of ATMs.
India allows 51 per cent FDI in single brand retail, but multi-brand retail is restricted for foreign investment.
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.
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