Overall, cumulative direct investment from China stood at just $2.05 billion till June 2018, according to consolidated DIPP figures
The move to open multi-brand retail to foreign direct investment may run into rough weather, with key Bharatiya Janata Party-ruled states, as well as some constituent parties of the ruling United Progressive Alliance, rejecting or being ambivalent towards the proposed policy.
The government is confident of meeting the fiscal deficit target of 5.9 per cent of gross domestic product (GDP) and the nominal GDP target of 10.5 per cent despite pressure in the initial months of FY24, Economic Affairs secretary Ajay Seth told Business Standard. Normally the initial months of any financial year see proportionally a higher fiscal deficit because the expenditure is evenly paced while revenue picks up in the later months, he said. "This year the proportional fiscal deficit so far is much closer to the target than in most other years.
The government on Thursday clarified that the multi-brand retail store set up by a global retail entity will have to be 'company owned and company operated' and not operated by any franchisee.
Since August 2013, FIPB has approved two FDI proposals in the telecom sector.
SBI has the largest exposure of Rs 1,500 crore (Rs 15 billion) to the airline which has not been serviced since this January.
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The Railway Budget is likely to be presented in the second week of July.
In matters of policy, this court will not interfere unless it is unconstitutional, the judge declared.
The deficit increased to $ 57.2 billion or 2.1 per cent of gross domestic product (GDP) in 2018-19 as against 1.8 per cent in the previous year.
Ten states and Union Territories have endorsed the Centre's decision to allow FDI in multi-brand retail, Minister of State for Commerce and Industry Jyotiraditya Scindia said on Monday.
India's foreign exchange reserves increased to $604 billion as on December 1, surpassing the $600 billion mark after a gap of about four months. The forex reserves were last above the $600 billion mark on August 11 this year. "India's foreign exchange reserves stood at $604 billion as on December 1, 2023.
The letter came on a day when at least 16 Kingfisher flights, 10 from Mumbai and six from Delhi, were cancelled due to the strike.
India is in favourable position to attract foreign firms planning to relocate their manufacturing bases due to trade tension between the US and China, says Nomura.
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.
Foreign direct investment in the multi-brand retail may be allowed subject to a stiff condition that global retailers will have to invest heavily in the back-end infrastructure like warehousing and cold storage.
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.
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.
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The company, which sells luxury products, including brands like Cartier, Piaget, Panerai and Montblanc, has also sought few clarifications from the government on conditions for selling sub-brands from the same stores, according to sources.
The Department of Industrial Policy and Promotion in the Commerce Ministry proposes to scale back the Foreign Direct Investment ceiling for the tobacco industry from 100 to 74 per cent and insert a caveat that cigarettes manufactured in the new ventures or in upgraded facilities must be mainly for consumption outside India.Sources said the department, which is responsible for the policy on FDI, is finalising a cabinet note aimed at comprehensive review of the tobacco policy.
The government will draw up FDI guidelines for minor investors and set up an exclusive park for overseas units.
In private, questions are being raised about the wisdom of a 'dual-SIM' leadership during the long run-up to the 2026 assembly polls where 'family rule' could become an election issue, reports N Sathiya Moorthy.
Anand Sharma, who took charge of the nodal ministry for FDI on May 29, said there is no need for a relook at the policy amended in February by the Department of Industrial Policy and Promotion. While the policy does not allow overseas inflow into this sector, the changes in February were perceived to be opening the sector to FDI up to 49 per cent in an Indian firm that has a downstream subsidiary firm in retailing.
Neither the BJP, nor the Congress before it, made any manifesto commitments on defence spending, even though allocations have plummeted from 4 per cent of gross domestic product (GDP) in the late 1980s to less than 2 per cent today, points out Ajai Shukla.
FII's too have invested in huge amount in the country
The Bahujan Samaj Party on Monday indicated that it will support the government in Parliament on the issue of Foreign Direct Investment, saying the fact that the Centre has not thrust the policy on states and the aim of keeping communal forces at bay will determine its stand.
India, at present allows 51 per cent FDI in single brand retail and 100 per cent in the cash-and-carry .
Analysts say July 23, 2011, was like a red letter day for foreign investors when the Committee of Secretaries, headed by Cabinet Secretary Ajit Kumar Seth, recommended opening up the multi-brand retail trade.
Fanning the hopes of private industry, the government today said it would consider allowing 49 per cent foreign investment in the defence sector "on a case-to-case basis."
The Union ministry of food and consumer affairs proposes to insert a new clause in the fresh discussion note for the Cabinet on allowing foreign direct investment (FDI) in multi-brand retail.
Goldman Sachs and other foreign investors may have to cut stakes in Indian comexes, following the FDI policy.
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.
According to experts, this will have major impact on new investments by Chinese players in companies, such as Paytm, Ola, BigBasket, Byju's, Dream11, MakeMyTrip, and Swiggy, when they go for follow-up funding. Chinese investors, such as Alibaba, Tencent, and Xiaomi, are active in the Indian start-up space, and have collectively invested billions of dollars.
The government has last month significantly liberalised the FDI regime, putting most of the sectors on the automatic route
Services attract highest foreign direct investment, despite Make in India push.
The proposed e-commerce rule book issued recently by the ministry of consumer affairs does not mention foreign companies or foreign direct investment (FDI) at any place, unlike most other government guidelines for the sector so far. That is a heartening development since the latest proposals could be fine-tuned as e-commerce policy.
The Indian government has simplified FDI policy inorder to attract global retail chains.
In January-June, India attracted $31 billion (Rs 2.05 lakh crore) in capital expenditure (capex) from foreign companies.
In 2011-12, FDI rose 34.4 per cent to $46.84 billion, compared with $34.84 billion in 2010-11 and $37.74 billion in 2009-10, according to data from the Department of Industrial Policy and Promotion.
Floats discussion paper for stakeholders' feedback with a deadline of January 28.
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