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 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.
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.
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.
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.
'Gujarat is the frontrunner at present.'
'However, Tamil Nadu's robust automobile ecosystem and Telangana's aggressive incentives make them strong contenders.'
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.
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.
For now Walmart has said it remains optimistic about India. But that could change without prior notice, says Nivedita Mookerji.
The BJP lost 15 of the 80 Lok Sabha seats in 2019. Union ministers have been deployed in all 15, tasked with turning the result around.
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.
Commerce ministry had recently brought out a discussion paper that called for allowing 100 per cent FDI in the defence sector.
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.
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.
The GAAR provision will apply to entities availing tax benefit of at least Rs 3 crore.
China will open up service sectors such as education, finance and culture for FDI to remain an attractive destination for overseas investment.
The government is confident of meeting the fiscal deficit target of 5.9 per cent of gross domestic product (GDP) and the nominal GDP target of 10.5 per cent despite pressure in the initial months of FY24, Economic Affairs secretary Ajay Seth told Business Standard. Normally the initial months of any financial year see proportionally a higher fiscal deficit because the expenditure is evenly paced while revenue picks up in the later months, he said. "This year the proportional fiscal deficit so far is much closer to the target than in most other years.
A Department of Industrial Policy and Promotion fact sheet mentioned India's top 10 FDI generating countries.
A prime minister-appointed panel on inflation has pitched for opening FDI in multibrand retail in a 'properly regulated fashion', cautioning that the global corporations can also become monopolistic and hike prices.
Foreign direct investment in India dipped by about 47 per cent to $2.1 billion in May due to the global recession and the trend is likely to continue for some more months, a senior government official said on Monday.
Even so, whenever a hitherto closed sector has been opened to FDI or the sectoral investment cap has been raised, the move has drawn strong protest. The latest instance is multi-brand retail.
The Foreign Investment Promotion Board seems to have laid to rest the controversy surrounding FDI investments routed via Mauritius.
With the issue of recent clarifications, the government seems to have decided to ensure that few, if any, actual foreign investors choose to enter the sector.
Before leaving on a 10-day foreign visit starting Monday, Sharma said he would address concerns of foreign retail sector investors and ensure help in setting up stores.
The Union ministry of agriculture and the department of land resources under the ministry of rural development have given "in principle approval" to a proposal of the Department of Industrial Policy and Promotion (DIPP) to invite FDI for developing non-arable land through better technology into fertile and cultivable land.
The committee of secretaries (CoS) looking into the issue of allowing foreign direct investment (FDI) in the multi-brand retail segment is likely to meet this Friday to try for more agreement on the issue.
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.
With economic recovery in the rich countries, especially European nations, remaining fragile, FDI inflows to India plunged by 48 per cent to $1.04 billion in January over the same period last year.
The group proposes to invest Rs 10,500 crore in single-brand retail trading in India through a 100 per cent subsidiary.
India's foreign exchange reserves increased to $604 billion as on December 1, surpassing the $600 billion mark after a gap of about four months. The forex reserves were last above the $600 billion mark on August 11 this year. "India's foreign exchange reserves stood at $604 billion as on December 1, 2023.
The government on Wednesday cleared the long-discussed proposal to hike foreign direct investment limit in the telecom sector to 74 per cent from the current 49 per cent, Finance Minister P Chidambaram said after Cabinet meeting.
Meanwhile, Parekh and Ganguly make a strong and compelling case for FDI in retail. Read on
'India needs many more job creators, both in manufacturing and services, to make it big.' 'For that, the red carpet must be rolled out fully and for all investors without holding back,' suggests Nivedita Mookerji.
Govt moves to bring in more clarity on definition of 'control'.
India Inc has expressed strong displeasure over the Delhi government's decision to withdraw approval to FDI in multi-brand retail, saying the move was likely to hinder foreign investments flowing into the country.
Asserting that there is no compulsion for implementing FDI in retail and states are free to decide on it, Parliamentary Affairs Minister Kamal Nath on Wednesday urged all political parties to vote against the Bharatiya Janata Party.
