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.
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.
UK's largest retailer Tesco, Singapore Airlines and Etihad queued up to invest in India as a persistent UPA threw open more sectors to foreign investments with indications of more big ticket deals to be announced in the new year.
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.
Floats discussion paper for stakeholders' feedback with a deadline of January 28.
India and China are emerging as significant sources of foreign direct investment in Africa even as the overall percentage of FDI from Asian countries targeted towards the continent remains low, the United Nations has said.
Jaitley praised the DRDO saying it was "doing quite a lot to meet the requirements of the armed forces but the Services need much more and that will come through domestic industry."
A government panel on Tuesday proposed raising foreign investment limits in sectors like defence, multi-brand retail and telecommunications, to spur investment in the country and tide over the Current Account Deficit woes.
The petroleum ministry has agreed to the proposal of the department of industrial policy and promotion and it would be taken to the Cabinet along with the general review of the FDI policy in September.
Another roadblock to be removed from FDI path; Load on insurance chest.
In 2011-12, 2010-11 and 2009-10, the sector attracted FDI worth $1.99 billion, $1.66 billion and $2.55 billion respectively.
With the Union government clearing the way for foreign direct investment (FDI) in the railways, the Railway Board is devising a plan for operations, maintenance and construction projects.
Currently, 100 per cent FDI in is permitted if the companies manufacture cigars or cigarettes or allied products.
India Inc on Friday said major announcements made by government, including operationalisation of 51 per cent FDI in multi-brand retail, are huge "mood lifters", besides dispelling the impression of any policy paralysis in the government.
Seeking to dismiss reports of differences in NDA over FDI in multi-brand retail, the Bharatiya Janata Party on Wednesday said it was opposed to the decision in toto and indicated that it will scrap the policy if it comes to power.
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.
India will unveil a single policy for foreign direct investment, including in sectors such as financial services, insurance and banking by March 31, Commerce and Industry Minister Anand Sharma has disclosed.
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 two -- along with five other private sector banks -- are likely to get impacted by the new FDI policy as foreign shareholding in these entities in different forms like American depositary receipts and global depository receipts exceeds 50 per cent.
The Union Cabinet on Wednesday approved revision in guidelines for providing direct to home (DTH) services in the country under which licenses would be issued for 20 years, Union minister Prakash Javadekar said. The Union Cabinet has also approved 100 per cent FDI in the DTH broadcasting services sector, Javadekar said, adding that while the commerce ministry had spoken of 100 per cent FDI in the DTH sector, the guidelines of the information and broadcasting ministry needed to be changed.
This is the highest in Europe and the third in the world after the United States and China
Banerjee said that traders would be hard hit by the Centre's decision on allowing FDI entry in retail.
In what will be a historic decision, the Union Cabinet is likely to clear a policy paper that seeks to allow 51 per cent FDI in multi-brand retail trading and 100 per cent FDI in single-brand retail on Thursday.
The highest FDI came in services ($2.18 billion), followed by automobiles ($1.28 billion), pharmaceuticals ($1.27 billion) and construction development ($1.05 billion) in the 11 months of 2013-14.
Prominent e-commerce marketplace players include Amazon.in, Flipkart, Snapdeal, Paytm, Shopclues and Jabong
Reserve Bank Governor Raghuram Rajan on Monday warned against compromising India's interest for the sake of attracting foreign investment and said the priority should be framing transparent policies as well as resolving contractual tax disputes quickly.
Bihar Deputy Chief Minister Sushil Modi tells Business Standard that foreign direct investment (FDI) in retail will cause job losses and the state doesn't want it. Edited excerpts:
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.
Embargo on imports from a neighbouring country would send a chilling signal to foreign investors who look for transparency and companies with manufacturing units in India had requested the government to publish any change in port policy "to provide the business community with the visibility they need to function", says United States-India Strategic Partnership Forum.
... if high oil prices persist or stock prices correct sharply.
According to the guidelines approved by the government, 100 per cent FDI can be utilised in facilities like cleaning up trains and installation of bio-toilets in passenger coaches and setting up of mechanised laundry services.
Opens operations in high-speed train, freight and suburban corridors to private sector
Before leaving on a 10-day foreign visit starting Monday, Sharma said he would address concerns of foreign retail sector investors and ensure help in setting up stores.
Well aware that the government cannot control inflation through RBI's monetary tools only, the Centre tried to inbuilt a supply-augmenting mechanism in the economy by opening multi-brand retail to 51 per cent FDI, but vehement opposition from the Opposition and even some of the United Progressive Alliance allies forced it to hold back the decision.
Clarifying norms for single brand retail trading, government on Tuesday allowed foreign investors to conduct business through more than one joint venture in India.
Several CII defence committee members confirm this is now the official CII position, which conforms to that of industry bodies, Ficci and Assocham.
The outbound FDI is also expected to increase, resulting in net FDI inflow of $24 billion.
For now Walmart has said it remains optimistic about India. But that could change without prior notice, says Nivedita Mookerji.
At a time when the world economy is facing the worst credit freeze in several decades, India attracted $2.7-billion FDI in January, up 58.8 per cent from a year ago, and remained a favourite destination for cross-border investments.
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