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.
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.
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.
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.
She also holds the distinction of delivering the longest budget speech at two hours and forty minutes in 2020.
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.
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.
The GAAR provision will apply to entities availing tax benefit of at least Rs 3 crore.
Commerce ministry had recently brought out a discussion paper that called for allowing 100 per cent FDI in the defence sector.
China will open up service sectors such as education, finance and culture for FDI to remain an attractive destination for overseas investment.
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.
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.
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.
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.
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 Foreign Investment Promotion Board seems to have laid to rest the controversy surrounding FDI investments routed via Mauritius.
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.
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.
Meanwhile, Parekh and Ganguly make a strong and compelling case for FDI in retail. Read on
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.
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.
During November, FDI flows into China, the largest recipient of foreign investment through this route, fell for the 10th time in 11 months, as labour costs rose and an economic slowdown dragged growth down for seven quarters in a row.
In 2011-12, 2010-11 and 2009-10, the sector attracted FDI worth $1.99 billion, $1.66 billion and $2.55 billion respectively.
Gadkari said, infrastructure sector including highways, airports, inland waterways, railways, logistic parks, broad gauge and metro, apart from MSMEs can attract large scale foreign investment.
The FIPB, headed by Department of Economic Affairs Secretary Arvind Mayaram, discussed 30 foreign direct investment proposals, including 10 from pharma sector.
The Railway Minister has announced that there is an urgency to attract FDI in Railway projects.
Telecom Secretary R Chandrashekhar on Thursday said 100 per cent foreign direct investment (FDI) in telecom would not be possible before the 2G auction.
Chaturvedi said the highest ever FDI flows received by the country were in FY12 at $35.12 billion while in four months of this fiscal alone we have crossed $10.75 billion.
