The CPI on Friday said it was opposed to divestment and entry of foreign direct investment in certain sectors like retail trade, media, telecom and finance.
A committee of secretaries will be meeting soon to consider a draft proposal, which suggests that decision-making on all policy issues pertaining to FDI be transferred from the Department of Industrial Policy & Promotion (DIPP) in the Ministry of Commerce to the Department of Economic Affairs (DEA) in the Ministry of Finance.
Contesting the US charge that Indian FDI rules are "opaque", Commerce and Industry Minister Anand Sharma on Tuesday said the country follows a simplified direct investment regime.
FDI inflows into services sector grew by about 47 per cent to $2.64 billion in April-January last fiscal.
Opposing Foreign Direct Investment in multi-brand retail, the Samajwadi Party on Tuesday said that the move is not in the interest of the country.
The country received FDI of $14.6 billion during April-August 2008 against $6.5 billion a year ago. The FDI target for 2008-09 is 35 billion dollar, while the actual inflows during the previous year were $24.57 billion.
Overall foreign inflows in the country rose by 27%.
Overall, cumulative direct investment from China stood at just $2.05 billion till June 2018, according to consolidated DIPP figures
"Not a single step has been taken by this government to empower small businesses in India," says Praveen Khandelwal, national secretary general of the Confederation of All India Traders and former treasurer of the Bharatiya Janata Party's Delhi unit.
Since allowing FDI in multi-brand retail has been left to the states, Indian companies may not benefit as foreign investors are wary of the politics.
The government wants to use the FDI victory impetus to clear the Companies Bill and those amending the banking and pension Acts.
After rising in September, Foreign Direct Investment (FDI) inflows in the country dipped by about 40 per cent to $1.4 billion in October over the same period last year.
Maharashtra received the lion's share of the foreign direct investment inflows into India during April-August this fiscal, according to industry ministry's latest data.
A large number of states, including Congress-ruled Kerala, are opposing the decision on concerns that the entry of foreign retailers like Walmart would lead to displacement of the neighbourhood kirana stores.
For now Walmart has said it remains optimistic about India. But that could change without prior notice, says Nivedita Mookerji.
Foreign direct investment in India has seen unprecedented growth in the recent years. FDI's contribution in India's GDP too is on the rise.
India's plans to relax foreign direct investment (FDI) rules across a broad spectrum of industries have received the final approval from the Cabinet Committee of Economic Affairs (CCEA).
Global sentiment has turned very positive for India
In June 2012, the country had received FDI worth $1.24 billion.
US diplomatic cables say Indian partners might be actually lobbying against raising the FDI cap.
Maharashtra topped the chart in terms of attractiveness at sub-national level in a weighted index calculated on the basis of individual ranking provided by participants of Ficci FDI Survey 2006.
Startup founders need to sit up and think about how not to take stardom for granted and how not to disappoint their fans who have stood in long queues for those precious selfies with popular entrepreneurs, notes Nivedita Mookerji.
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.
Bharatiya Janata Party on Thursday asserted that it would use all mediums of democratic protest to oppose the move to allow Foreign Direct Investment (FDI) in multi-brand retail, saying this would harm self-employed retailers.
Foreign Direct Investment inflows from Mauritius have almost halved during April-January period of last fiscal to $4.11 billion on fears of impact of GAAR and possible re-negotiation of the tax avoidance treaty.
After defence, the Commerce and Industry ministry has started the exercise to relax foreign investment norms in the railways sector by permitting 100 per cent FDI in high-speed train systems and dedicated freight lines.
A letter reversing the decision was sent by Rajasthan Chief Minister Vasundhara Raje to Commerce and Industry Minister Anand Sharma.
Foreign direct investment inflows into India rose an annual 12.9 percent in July to $1.66 billion.
Amid a government scrutiny into the alleged breach of FDI norms by Hutchison Telecom International, the Hong Kong-based firm on Monday asserted its Indian mobile venture Hutch Essar Ltd (HEL) did not violate any regulations.
The Trinamool Congress is not happy with the government's move to put on hold its decision to allow Foreign Direct Investment in retail and insisted that FDI should be rolled back.
However, in recent times, the clout that trader bodies such as CAIT and other organisations like Swadeshi Jagran Manch and Laghu Udyog Bharati has is steadily increasing. Earlier this year, trader bodies were able to convince the government not to extend the deadline for implementation of the new norms in FDI policy on e-commerce.
Delhi's Industry Secretary Amit Yadav told PTI that the city government has communicated its decision to the Department of Industrial Policy and Promotion of the government.
In the first nine months of 2009, FDI dipped by 26 per cent to $21.4 billion from $29 billion a year ago. The total FDI inflow into India since 2001 crossed the $100 billion mark.
According to the Morcha, the demands which Delhi Chalo has been called include: MSP should be guaranteed as per C2+50 percent formula and, as promised, a law should be made to guarantee it; all the farmers should be made debt free, and all agricultural loan must be waived.
China will open up service sectors such as education, finance and culture for FDI to remain an attractive destination for overseas investment.
It will be bad for the farmer and the consumer. It will be bad for the poor -- urban and rural. It will put a lot of people in the retail trade out of jobs. It will increase fuel use, says G V Dasarathi who is in charge of buying groceries in his family.
Foreign Direct Investment into the country declined by about 38 per cent, year-on-year, to $2.91 billion in September, according to the Department of Industrial Policy and Promotion.
The GAAR provision will apply to entities availing tax benefit of at least Rs 3 crore.
The Wall Street major Morgan Stanley has upgraded India to "standout overweight" citing that the relative economic and earnings growth is improving and the macro-stability setup looks sufficient to withstand the higher real rate environment. "India remains standout overweight. "We increase our overweight stance on Indian equities and as our most-preferred emerging market," the brokerage said in a note on Friday.
Despite the uncertain economic environment globally, FDI in India surged 50 per cent to USD 20.76 billion from January-August, according to the industry ministry's latest data.
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