Parliament on Monday witnessed uproar over FDI issue with Opposition members shouting slogans during Question Hour leading to adjournment of both Houses till noon.
Abu Dhabi's International Holding Company, one of the first high-profile investors in billionaire Gautam Adani's conglomerate, has decided to sell its stake in two Adani companies. In a disclosure, IHC said it has "entered into a definitive agreement with a buyer to dispose of its FDI investment in Adani Green Energy Ltd and Adani Transmission Ltd". It, however, did not name the buyer.
One thing is clear we will continue our fight against FDI, says Bardan.
The Commerce and Industry Ministry has circulated a draft Cabinet note for inter-ministerial consultations.
Several CII defence committee members confirm this is now the official CII position, which conforms to that of industry bodies, Ficci and Assocham.
Overall foreign inflows into the country grew by 8 per cent to $ 24.29 in the last fiscal as against $ 22.42 billion in 2012-13.
Mamata Banerjee, who had pulled out of UPA-II over FDI in retail, among other issues, would dedicate mall to people of Kolkata.
The move would help insurance firms to get much needed capital from overseas partners.
FDI inflows into India were $34 billion in 2014, up 22%.
The government has last month significantly liberalised the FDI regime, putting most of the sectors on the automatic route
Currently, FDI up to 26 per cent is permitted through automatic approval route.
FII's too have invested in huge amount in the country
The key sectors that received the maximum foreign investment during the nine months of the fiscal include services, computer software and hardware, telecommunications, chemicals, and the automobile industry.
Soft drink major Coca Cola's Rs 549 crore (Rs 5.49 billion) proposed investment in its Indian arm was among the 25 FDI proposals totalling 773.52 crore (Rs 7.73 billion) cleared by Finance Minister P Chidambaram on Thursday.
The loans taken have come down and hence the net capital inflow has reduced.
Foreign direct investment (FDI) in India has declined by six per cent to $5.47 billion during January-March quarter of the current calender year even as government is making efforts to promote the country as an investment destination.
He said with an aim to make the FDI policy user friendly, all prior regulations and guidelines have been consolidated into a comprehensive document.
South Korean envoy described the Posco investment as the biggest FDI project in India.
India, the world's fifth largest economy in the world, is likely to overtake Japan to become the world's third-largest economy with a GDP of $7.3 trillion by 2030, S&P Global Market Intelligence said in its latest issue of PMI. After two years of rapid economic growth in 2021 and 2022, the Indian economy has continued to show sustained strong growth during the 2023 calendar year. India's gross domestic product (GDP) is expected to grow 6.2-6.3 per cent in the fiscal year ending in March 2024, being the fastest-growing major economy this fiscal year.
As per the current policy, 100 per cent foreign investment is allowed in scheduled air transport service, domestic scheduled passenger airlines and regional air transport
A day after winning Parliament's approval to the decision of allowing FDI in retail, Prime Minister Manmohan Singh on Saturday said the move will benefitfarmers and consumers and help introduce new technologies in agri marketing.
Arun Jaitley has clarified his custodianship of 3 ministries - finance, corporate affairs and defence.
Position as most-favoured destination moves down a notch to fourth, says Unctad report.
'Hundreds of thousands of people who earn their livelihood from the 12 million existing retail outlets may be put out of business by Big Retail,' says Bhavdeep Kang.
The Cabinet can take a decision on the matter only after the Election Commission's approval.
This is the highest in Europe and the third in the world after the United States and China
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."
She said during Question Hour in Rajya Sabha that Bharatiya Janata Party got a massive mandate on the basis of its election manifesto which opposes FDI in multi-brand retail.
India received foreign direct investment (FDI) worth $1.79 billion in February, 2013 -- a decline of about 19 per cent due to global economic slowdown.
It has brought down the minimum capital requirement to $5 million from $10 million.
India's global ranking as a destination for FDI has fallen from eight to 14.
Improved monsoon, solid fiscal performance, and capex push by the public and private sectors augurs well for India's macroeconomic stability and growth, the finance ministry's monthly economic review for June 2023 said. But the report said that while India's domestic fundamentals remain strong, negative cross-border spillovers and adverse global developments could act as a deterrent in achieving the high growth path this financial year. "An improved matching of aggregate supply and aggregate demand in the Indian economy underpins the progress made in the control of domestic inflation and the consequent strengthening of macroeconomic stability," the review said.
The question is not whether FDI in multi-brand retail is desirable or not, but whether the rules of conducting business in Parliament need to be reviewed.
In October 2011, the country had attracted FDI worth $1.16 billion.
Scouting for resources to meet its fund crunch, Railways is open to the idea of even 100 per cent FDI in its infrastructure development but would keep train operations out of its ambit.
Out of 2,852 stocks traded on the BSE, 1,515 declined while 1,219 advanced.
An Enforcement Directorate (ED) investigation into alleged foreign exchange law violations by edtech major Byju's and its CEO and co-founder Raveendran Bjyu is in the final stages of completion following which a show cause notice could be served to them, official sources said Tuesday. The central probe agency had in April searched two business and one residential premises, including that of the registered company of Byju's -- Think & Learn Pvt. Ltd. -- under the provisions of the Foreign Exchange Management Act (FEMA).
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