It has been waiting in line with other global retailers like Carrefour and TESCO to tap the growing and lucrative Indian market.
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 move, if it goes through, will be warmly welcomed by foreign media houses which have been looking to enter India, one of the world's fastest growing economies. The domestic media barons, however, are likely to oppose the move.
The government on Wednesday said foreign direct investment in IT and telecom sector is expected to go up by more than 100 per cent in 2006.
India has not made the giant leap that was needed.
Apple's online launch is a symbol of success for FDI in single-brand retail, though there's no indication of how much the Silicon Valley major would invest in the country.
Pointedly blaming Congress general secretary Rahul Gandhi for the United Progressive Alliance's government's nod to Foreign Direct Investment in retail, Uttar Pradesh Chief Minister Mayawati made it clear on Saturday that she would oppose the move tooth and nail."The Bahujan Samaj Party will launch a strong movement against the policy in case the UPA government manages to get the approval of Parliament," she declared.
After topping it for two consecutive years, Gujarat slipped three places on the NITI Aayog's Export Preparedness Index (EPI) for 2022, as Tamil Nadu emerged as the most export-ready state, the central think tank said in its report released on Monday. In a continuing trend, coastal states were found to have the most robust export infrastructure, which officials attributed to the integration of maritime trade into the core of their economies. Maharashtra and Karnataka retained their positions -- second and third, respectively; Haryana was ranked first among landlocked states and fifth overall.
The country has received investments worth $1.6 billion in the first four months of the current fiscal.
The Ministry of Home Affairs in the past has raised concerns on increasing FDI in telecom sector.
This FDI includes equity, re-invested earnings and other capital.
Other measures being considered include relatively stringent KYC norms and a separate standard operating procedure for approval, renewal, and fresh investment from India's neighbouring countries.
The finance ministry has given its consent to the draft Cabinet note on opening the multi-brand retail to foreign investment, an official said.
In the last three years, the United States has taken over Russia as the largest supplier of weapon systems to India, Lok Sabha was informed on Tuesday. Answering a written query in the Lower House, Defence Minister Arun Jaitley said in the last three years, India pent Rs 83,458 crore for procuring equipment from foreign vendors which included Rs 32,615 crore worth of supplies from the US whereas Russia exported hardware worth Rs 25,363.96 crore in this period.
India is fast re-emerging as a good business destination among foreign investors.
The final policy may be out only after formation of the new government, according to sources
Senior Bharatiya Janata Party leader M Venkaiah Naidu on Thursday said the bandh against UPA government's policies was a success and its message was to roll back FDI in retail, diesel price hike and rationing of gas cylinders.
Foreign direct investment into the country in the first quarter of calender year 2004 increased by 71 per cent year-on-year to Rs 5076.61 crore (Rs 50.77 billion) as compared to Rs 2968.26 crore (Rs 29.68 billion) in the same period last year.
The finance ministry on Tuesday cited "green shoots" of recovery in agriculture, manufacturing and services sectors, and said the prompt policy measures taken by the government and RBI have helped reinvigorate the economy with minimal damage. Stating that the agricultural sector remains the foundation of the Indian economy, the ministry said that a normal monsoon, as has been forecast, should support the rebooting of economy.
The government has relaxed the norms for allowing foreign direct investment (FDI) in the construction development sector. It is expected the move will boost affordable housing projects and smart cities across the country.
'If you are going to have only a handful of telecom players on whom the entire dream of Digital India rests, it's important they are financially sustainable.'
The relaxation will apply to those sectors that have composite caps (foreign direct investment or FDI plus FII). "The move will not impact sectors like banking and insurance which are governed by Acts of Parliament. However, sectors with composite caps which see administrative control like telecommunication services, broadcast services like direct-to-home and FM radio will benefit," a Delhi based FDI policy expert told Business Standard.
In a dramatic turn of events in May 2019, an Emirates aircraft en-route to Dubai was asked to stop while it was taxiing for a take off in Mumbai. The pilot was given no reason and ordered to immediately return to the parking bay. As the aircraft returned to the terminal, two passengers from the first class - Naresh Goyal and his wife Anita - were offloaded by the immigration authorities, who said the duo cannot leave the country. Goyal, founder of Jet Airways, was stunned. The man, who ruled the aviation sector for two and a half decades with an iron hand, did not expect to be offloaded in this fashion.
Global funds, according to Christopher Wood, global head of equity strategy at Jefferies, are now beginning to pay more attention to India with the market now offering 30 companies with a market capitalisation over $25 billion.
The Bilateral Aviation Safety Agreement, the civil nuclear technology transfer, telecom infrastructure security and business jet landing rights are among other "policy accomplishments in 2011" listed on the US chamber's website.
India expects an inflow of $12 billion foreign direct investment into the country during the 2006-07 fiscal, a government official said on Saturday. \n
Finance Minister Nirmala Sitharaman on Tuesday sought to know from industry what is holding it back from investing in manufacturing, even though foreign investors show confidence in India. Drawing parallel between India Inc and mythological character 'Hanuman', Sitharaman said the government is willing to engage with the industry and take policy action. "This is the time for India... We cannot miss the bus," she added.
The retrospective tax controversy was highlighted by Vodafone, but Cairn Plc's continuing problems point to the impact this law has had on FDI in India's oil and gas sector.
Walmart had entered into a joint venture with Bharti Enterprises.
To facilitate foreign direct investment (FDI) in high- speed rail projects, the government is likely to allow private sector entry in operations.
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.
Industry is displeased over the failure of the National Manufacturing Policy, which has failed to invite any sizeable investment since it was launched more than two years ago.
Non-uniform definition of control makes foreign investors wary, raise corporate governance issues.
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.
Under these rules, telecom gear makers have to share their source codes and get their equipment tested by third-party labs accredited to the government.
If net forex outflows turn out to be relatively high in the next few years, the rupee could depreciate beyond Rs 80 to a dollar by 2022. The causal reasons could, for example, include unmet expectations of FPI and FDI investors about the performance of the Indian economy, sharp rise in prices of imported oil and decrease in FX remittances. The RBI has to ask itself whether guaranteeing future rupee-dollar exchange rates on FX forward contracts is a reasonable way to use its risk-bearing capacity, says Jaimini Bhagwati.
The government is likely to allow FDI in high speed trains and other projects.
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