'As long as people are willing to compromise on quality for a lower price, the unorganised retail sector will stay.'
This law will further promote inclusive economic growth targeting a larger population and enabling deeper insurance penetration.
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.
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.
'China's investment destination image the world over has taken a beating, therefore investors feel India is a safe haven for investments.' 'FDI is at an all-time high in India.' 'Now after such poor ratings, this FDI amount will fall.' 'Therefore, I am saying these things are happening at China's behest.'
The organised market is likely to grow to Rs 4.8 trillion by 2016-17.
Mobile television allows the consumers to watch live as well as pre-recorded television content on a mobile handset using a specialised mobile television broadcasting technology. Currently, only video clips can be downloaded on mobile handsets.
The amendment would help check round-tripping of funds and boost the domestic consumption, Jaitley added
West Bengal Chief Minister Mamata Banerjee is trying to bluff people with her opposition to FDI in multi-brand retail, Left Front chairman Biman Bose said on Monday and questioned the purpose of her meeting with the United States secretary of state and the US ambassador to India.
Foreign direct investment to India dipped to $1.49 billion in February from $5.67 billion a year ago amid the global credit crunch, but inflows in the 11-month period (April-February 2008-09) of the fiscal have already crossed the inflows in the entire preceding fiscal.
Shortlisted bidders have been intimated
The Enforcement Directorate on Saturday said it has searched the Bengaluru-located office and residential premises of Edtech major BYJU's and its CEO and co-founder Raveendran Byju and seized 'incriminating' documents and digital data as part of a foreign exchange violation probe.
The country has received investments worth $1.6 billion in the first four months of the current fiscal.
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After a high-level meeting held on Friday chaired by Prime Minister Manmohan Singh, it has been decided that the Commerce and Industry would soon start a consultation process to address 'dangers inherent' in the current model of FDI in brownfield pharma units.
Traders' body CAIT on Thursday urged the government to impose a ban on Amazon's e-commerce portal and its operations in India, accusing the global e-tailing giant of indulging in predatory pricing, deep discounting and inventory control. Addressing a press conference, CAIT secretary-general Praveen Khandelwal demanded an "immediate ban on Amazon's portal and its operations in India" and an investigation against the company in a time-bound manner. He also urged the government to probe the business practices of Amazon and Flipkart. However, responding to the allegations, both Amazon and Flipkart said they remain compliant with Indian laws.
The Foreign Investment Promotion Board headed by Economic Affairs Secretary Arvind Mayaram, also cleared the proposal of Decathlon Sports India's proposal for induction of foreign equity worth Rs 700 crore (Rs 7 billion) to engage in single brand retail.
On the face of it, the country attracted FDI worth $22.52 billion between January and September, 2011 against $15.97 billion in the same period last year.
The government on Monday said the decision to increase FDI limit to 74 per cent in the non-news sector of the print media would make India an international printing hub giving a major boost to trade in the sector.
The two major railway unions have proposed to the government an unprecedented alternative to privatisation or inviting foreign investment, to help raise funds and improve revenue.
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.
CPI(M) on Wednesday said it has no objection to the Cabinet decision on raising FDI cap to 49 per cent in domestic private airlines but the party's concerns still remain in other areas of the civil aviation sector.
The opposition leaders also accused the government of violating Constitutional norms by not inviting President Droupadi Murmu to the event.
'You have to be a total anti-national bozo to shut down the Nokia plant in Sriperumbudur, which was the first large manufacturing plant for mobile phones in India.' 'Why was the unit shut down? Because of somebody's ego.'
E-commerce players may soon rent out drones, so you can use them the way you book a cab on an app, and test viable use-cases for last-mile delivery.
The government on Monday cleared 18 foreign direct investment proposals involving Rs 118.93 crore including Standard Chartered Private Equity's plan to pick up 14.35 per cent stake in NDTV for Rs 52.88 crore.
The Communist Party of India-Marxist would use "all options" available in the rules of business in Parliament to thwart government's attempts to implement foreign direct investment in retail, even as it welcomed the decision to hold debate on the issue in both Houses under rules entailing voting, a top leader said on Thursday.
The Singapore subsidiary of the UK-based GlaxoSmithKline plans to buy 24.33 per cent stake or 2.06 crore equity shares in GlaxoSmithKline Pharmaceuticals Ltd through an open offer.
At present, the Insurance Bill is under the consideration of Select Committee of Parliament.
Industry favours a hike in foreign direct investment cap, a single regulator for insurance and pension sector and long-term debt papers among other reform measures to boost growth in the insurance segment, a FICCI survey said on Tuesday.
Foreign Direct Investment (FDI) in the United States exceeding $1.7 trillion in the last one decade has created more than five million jobs in the US.
The government on Wednesday permitted NRIs to invest up to 100 per cent stake in disinvestment-bound Air India. The decision comes at a time when the government has sought preliminary bids for 100 per cent stake sale in the national carrier. "Today's decision on Air India is one milestone decision where NRIs... will get permission to invest 100 per cent in the airline," Union Minister Prakash Javadekar told reporters at a briefing about the Union Cabinet's decision.
A Parliamentary Committee on Wednesday recommended a composite foreign investment cap of 49 per cent in the insurance sector and supported a government Bill to amend the Act.
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