According to experts, the banning of the apps has created negative sentiments and reduced the confidence among the Chinese investors to invest in India.
The sector attracted foreign investments to the tune of $1,252 million during the year, a 12.8 per cent decline compared to $1,437 million registered in the previous year, according to latest data released by the Department of Industrial Policy and Promotion (see table).
Another point of contention is the invoice issued by the e-companies.
The department of telecommunications, in the draft universal licence guidelines to be signed with telcos which recently won spectrum in the 1800 MHz auction of November, has included a new clause for foreign companies.
Latest 'clarifications' add to the confusion; foreigners may delay investments, and Indian firms will find it difficult to get investors.
Information and Broadcasting minister Ambika Soni spoke to rediff.com's Sheela Bhatt briefly on the current logjam in Parliament over the government's decision allowing 51 per cent foreign direct investment in multi-brand retail trade.
Nifty, which has struggled around 8550-8560 levels managed to blast past this resistance and close above the psychological mark of 8600.
The commerce and industry ministry had moved a Cabinet note to allow foreign carriers pick up equity in their Indian counterparts.
Congress-ruled Rajasthan and Delhi had said yes; 3 states which had okayed FDI have Assembly polls next year.
Union Minister of Commerce and Textiles Piyush Goyal has stirred up a hornet's nest by taking on India Inc, specifically the Tata group, which is among the companies that lobbied against the Modi government's pro-consumer draft e-commerce policies. While Goyal's comments, made at a Confederation of Indian Industry (CII) event, were streamed live on YouTube, the industry lobbying body later edited the video and subsequently withdrew the entire speech. Goyal had said the Tata group and other Indian companies often lobbied for their interest, while ignoring national interest.
A bench headed by Chief Justice P Sathasivam said the issues raised in the plea need 'examination' and issued notice to the Centre, RBI, Central Board of Direct Taxes, the Institute of Chartered Accountants of India, PwC and the audit firms sharing its brand name.
In Thailand and Brazil, within years, they have been seen to have destroyed domestic competition. Moreover, uniformly they are accused of adopting bad labour practices, squeezing manufacturers and following predatory pricing policies, says M R Venkatesh.
Move to impact joint ventures in telecom, insurance, broadcasting.
It is also considering to hike FDI cap for public sector from 20 per cent to 49 per cent
Capital dumping is being used by foreign e-commerce firms to subsidise and engage in predatory pricing, oil-to-telecom conglomerate Reliance Industries (RIL) has told the Associated Chambers of Commerce and Industry of India (Assocham) in an internal document. The document alleges that this is leading to massive unemployment and financial distress among small merchants and kirana stores. It consists of various recommendations and proposed changes that deal with Press Note 2 of 2018 (PN 2), which RIL wanted Assocham to present to the government, according to sources.
'Air India's privatisation is acceptable as long as its control does not pass on to a foreign entity,' says A K Bhattacharya.
The regulations will only apply to the share purchases that have been done after October 1, 2004
Domestic chains rejoice at Cabinet's in-principle nod to 51% cap, most of them call it a positive development.
Though FDI is allowed in the sector, foreign carriers cannot acquire stakes in Indian airlines.
New policy to give greater flexibility to foreign players.
'Our competitiveness with China is very important.' 'If the exchange rate depreciates, it is good for us because it helps in our competitiveness.'
The unexpected upward revision of the country's sovereign rating by Fitch today will strengthen the battered rupee which would also stem the fund outflow from the domestic market, Standard Chartered said.
The Centre must bring an "all-encompassing" policy to protect the interests of the consumers as well as offline traders and small traders, he said, underlining that the proposed consumer protection e-commerce rules are "inadequate" to address the issue. The Swadeshi Jagaran Manch (SJM) is an affiliate of the Rashtriya Swayamsevak Sangh (RSS).
FY22 will be the year to rebuild with the IMF projecting output growth at 11.5 per cent, economic survey at 11.0 per cent and the RBI's Monetary Policy Committee at 10.5 per cent.
The Reserve Bank of India (RBI) is precariously balancing two opposing objectives - maintaining easy financial condition in the domestic market, while ensuring external stability - and economists have started taking note. They say India is going through the classic trilemma of the 'Impossible Trinity'. The RBI cannot have an independent monetary policy (setting domestic interest rates) in an environment of an open capital account and flexible exchange rates. What is even more complicated for the central bank now is that financial market stability overlays all the other three objectives.
A few days after the government made the crucial policy announcement, Tony Fernandes, chief executive officer of Air Asia, the largest low-cost carrier in Southeast Asia, said he would visit India this month.
Even as the government's move to hike import duties on 45 items is seen as a sign of protectionism, the prime minister was himself involved in the process.
Whatever the critics may say, the numbers suggest that India continues to be a favourite destination for foreign investors.
Opposition firm on its demand for FDI decision reversal, even as PM asks dissenters to fall in line.
The previous United Progressive Alliance government had permitted up to 51 per cent foreign direct investment in multi-brand retail but the current National Democratic Alliance government is opposed to it.
Commerce and Industry Minister Anand Sharma along with officials from his ministry were in the Nordic country for a two-day visit. They were accompanied by Indian industrialists led by the Confederation of Indian Industry.
Auto, tourism exceptions but major sectors otherwise saw decline in FY13 inflows.
India attracted a major chunk of the record $40.1 billion capital that flowed into South Asia in 2006, but restrictive policies could stunt investment growth leading to slower economic expansion, the World Bank warned in a report.
Industry experts on Friday called upon the new BJP-led NDA government to focus on attracting investments in key sectors, especially the infra space, to revive growth and investor confidence.
'Life will not improve overnight; it will happen in a gradual manner.'
Foreign investment cannot enter India through a circuitous route in sectors like multi-brand retail, atomic energy and the lottery business and will need to operate within the sectoral caps, according to new guidelines.
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