In a consultation paper issued on Tuesday, the department of industrial policy and promotion sought comments on whether FDI should be restricted to LLPs operating in sectors without any investment caps, conditionalities or entry route restrictions.
The firm is likely to spend $600 million in total for the new stores. The average size of its stores is about 55,000 sq ft.
Cabinet nod not required after commerce ministry approval.
Overseas investment by Indian firms increased by about 59 per cent in May to $3.7 billion, with Gammon, Tata Steel and Religare among the top investors abroad.
After clearance in 2012, single-brand showpiece still to decide on a single location, with first store unlikely before 2017.
The defence ministry has already shortlisted two Indian shipyards and five foreign defence majors for the project, being billed as one of biggest "Make in India" ventures.
The defence ministry took the decision to hold the biennial event as scheduled following inputs from major stakeholders including the domestic defence industry and global aerospace majors, official sources said.
UK-based retail major Tesco Plc on Tuesday filed the first application for setting up multi-brand retail outlets in India.
To take the Rs 49,000 crore ITC to the top slot in the highly competitive FMCG business will require some aggression.
We can expect to see more Chinese wolf warrior diplomats on the prowl, in India's neighbourhood, though its mailed fist is not so visible while dealing with India, observes Colonel R Hariharan (retd).
To generate ample private sector interest, there is a need to introduce market-linked tariff rates.
Most brokerages have maintained their Sensex and Nifty targets as they believe there is little room for further re-rating in the backdrop of weak earnings.
His absence will be felt because of his decision taking ability and rapport with armed forces.
BP will pay $7.2 billion for 30 per cent stake in exploration blocks.
Liberalising regulations on satcom technology could attract billions of dollars in foreign investment.
In a communication to the empowered committee on PLI recently, the Indian Cellular & Electronics Association (ICEA) has stated that except one player (Samsung), all the other eight players (which include vendors of Apple Inc) selected under the scheme were facing numerous challenges in fulfilling the qualification criteria.
The industry ministry and the finance ministry are holding consultations on whether to bring the banking sector under the purview of new FDI (foreign direct investment) rules, which will categorise some Indian banks -- like ICICI Bank -- as foreign banks.
The biggest fear many of the e-commerce firms have is the possible requirement to change business models overnight, which would drastically increase costs as well as disrupt businesses.
Sources estimate there could be about 60 applications at the department of industrial policy and promotion for up to 49 per cent foreign direct investment in single-brand retail.
At the same time, Indian companies with a majority foreign shareholding could find it difficult to make 'downstream' investments since the new guidelines do not distinguish between different forms of capital and treats them as FDI. So, a company with high non-FDI foreign capital was considered an Indian entity. Now, they will be considered foreign-owned and their downstream investments will have to follow sectoral restrictions.
Financial services firm Goldman Sachs on Tuesday said the new United Progressive Alliance government is unlikely to pursue 'big-bang' reforms, but piecemeal changes in policies may take place, including hiking of FDI cap in insurance and divestment in public sector units.
'The airline business is very dynamic. If you are unable to keep up and lead, you end up last.' 'This is what has happened to Jet.'
Apple and Samsung are international players and should work as a team with domestic companies to transform India into a global powerhouse: IT Minister Ravi Shankar Prasad.
US retail chain Walmart is awaiting a decision by its board decision on its India strategy, including its partnership with the Bharti group.
Vicky Nanjappa in a conversation with Air Deccan founder Captain Gopinath regarding the AAP
The move is likely to hit Bharti-Walmart, the 50:50 joint venture between the US' Walmart and Sunil Mittal-led Bharti Group that operates cash-and-carry outlets in India, the most.
Move to make investing in sectors with FDI cap easier.
The government was going in the "wrong direction" and it was "highly condemnable" that it did not discuss the proposed changes with trade unions and other stakeholders, says BMS, trade union arm of the RSS.
UK flag carrier British Airways plans to tie up with an Indian domestic carrier in a franchise partnership.
Each dept could handle a designated area.
Post-elections, the pace is expected to be greater for inbound deals, which have been largely pushed back for many months now for want of better clarity on the policy stance of new government, experts said.
India's telecom sector has been through dizzying peaks, troughs, policy U-turns, court battles, brutal competition, and daily controversies. India could go back to a private sector duopoly with just Reliance Jio and Bharti Airtel surviving the mayhem. The third player, Vodafone Idea, could be history.
If we work together with dedication, concentration and effort, we should be able to achieve our aspirational growth target of double-digits for a very long period of time, suggests K V Kamath.
US retail giant Walmart has asked the government for more time to convert $100 million of debentures held in a Bharti Group unit, an investment that's being investigated for alleged violation of norms.
'This solid verdict would further strengthen his resolve to drive forward the economic agenda to ensure that the fruits of the economic momentum continue to reach the poor, so visible during the last five years.'
A slowdown in India's growth rate, the bank said, has also affected the growth rate of South Asia. As a result, South Asia has fallen to second place after East Asia and the Pacific.
Finance Minister Nirmala Sitharaman on Monday presented the Budget for 2021-22 in the Lok Sabha that is expected to provide relief to the pandemic-hit common man as well as focus more on driving economic recovery through higher spending on healthcare, infrastructure and defence amid rising tensions with neighbours, As India emerges from the COVID-19 crisis, the ninth Budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
E-commerce pilot for wholesale begins from July in Hyderbad and Lucknow
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Traders were up in arms, fearing huge job loss if Walmart was to enter.
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