Emerging consensus is that all state capitals be covered.
The latest available data from the Reserve Bank of India show a 77 per cent jump in the FDI in the first half of the current financial year (April-September), compared to what was $19.5 billion the same period a year ago.
The move came as the country badly needs capital inflows as the rupee comes under pressure
The department of telecom will issue guidelines on raising the foreign direct investment limit to 74 per cent from 49 per cent next week.
Tesco, which has a franchise agreement with Trent Hypermarkets for the latter's back-end operations, is believed to be interested in investing in those hypermarkets
Taking its protest against FDI to the streets, opposition parties on Wednesday said their fight will go on till they ensure that it is scrapped altogether.
Foreign Direct Investment (FDI) as a source of funding has shrunk to a trickle for the once lucrative telecom sector with foreign investment inflows plunging to $43 million in the April-September period of the current fiscal.
The government must review its policy to allow foreign direct investment up to 24 per cent in the small and medium scale enterprises, and ensuring better credit facility and technology financing to make them globally competitive.
Bharatiya Janata Party, Communist Party of India and Janata Dal-United on Tuesday come together to launch a national campaign against FDI in retail and sought support from the people to make the movement against the government's "anti-people" policy a success.
Consensus eluded an all-party meeting called on FDI issue on Monday even as Samajwadi Party and Bahujan Samaj Party provided comfort to the government by not insisting on voting and Trinamool Congress springing a surprise by speaking in a similar tone.
In the cacophony of debates on the wisdom of liberalising retail foreign direct investment, or FDI, one viewpoint was noticeably absent: whether and how this might affect India's strategic interests.
Terming the prime minister's address to the nation on September 21 as "most laughable", Shiv Sena chief Bal Thackeray said Manmohan Singh has "shamelessly" defended Foreign Direct Investment (FDI) in retail and rise in diesel prices.
A government panel on Tuesday proposed raising foreign investment limits in sectors like defence, multi-brand retail and telecommunications, to spur investment in the country and tide over the Current Account Deficit woes.
A recent public interest suit in the Supreme Court over foreign direct investment (FDI) in retail may have thrown the industry into a tizzy, but lawyers, constitutional experts and government officials indicate the multi-brand retail FDI policy is unlikely to get derailed over Fema.
Foreign direct investment (FDI) in India declined by about 15 per cent to $12.6 billion (Rs 74,971 crore) during April-October this year, Parliament was informed on Wednesday.
In a major policy reversal, the AAP government wrote to the Centre to withdraw the approval given by the previous Sheila Dikshit government for FDI in multi-brand retailing in Delhi, saying the entry of global chains such as Walmart and Tesco in India would result in large-scale job losses.
Currently, 100 per cent FDI is permitted in brownfield pharma firms through clearance from the Foreign Investment Promotion Board.
Punjab and Gujarat are in favour of FDI in multi-brand retail in food items while many others have vehemently opposed the idea, a government official said.
The United Progressive Alliance government had opened the multi-brand retail sector for foreign investment and allowed up to 51 per cent foreign direct investment in the sector.
For the first time in the history of Rajya Sabha, its chairman and Vice President Hamid Ansari has permitted All India Anna Dravida Munetra Kazhagam -- a regional political party to initiate the FDI in retail discussion in the Rajya Sabha on Thursday.
The deadlock in Parliament over Foreign Direct Investment in retail and several other issues continued for the ninth day on Friday with the opposition and some members of United Progressive Alliance partner Trinamool Congress creating uproar in both Houses to press for their demands. Both Lok Sabha and Rajya Sabha were adjourned minutes after they met for the day.
FDI inflows into the country have been declining over the past two years despite policy easing in about a dozen sectors.
FIPB had taken up these three proposals in its meeting in August, but the decision on them was kept in abeyance.
India, the US and 12 other members of the IPEF grouping have signed a supply chain resilience agreement that would help mitigate risks of economic disruptions from supply chain shocks and improve crisis coordination. The agreement would help member countries like India to reduce their dependence on China and provide timely information to the IPEF member countries about potential supply disruptions. The COVID outbreak severely disrupted the global supply chain, as most countries were dependent on China for various products like pharma raw materials.
SBI has the largest exposure of Rs 1,500 crore (Rs 15 billion) to the airline which has not been serviced since this January.
28 private sector companies are having FDI varying up to 26 per cent.
Some new sectors in which the commerce ministry has proposed to allow foreign direct investment (FDI) are credit information companies and commodity exchanges. The ministry is in favour of allowing up to 49 per cent FDI proposed in both these sectors. In proposing to open up the commodity sector, the ministry has said that FII investment be limited to 24 per cent, with a condition that a foreign investor cannot hold more than 10 per cent equity in the investing companies
The 2014 survey, which polled 502 global executives from companies with international presence, showed the majority of respondents were considering increasing their presence in India.
The Enforcement Directorate, which probed the alleged contravention of foreign exchange laws by Walmart in its investments in domestic supermarket chain Bharti Enterprises, has found no violation of FDI guidelines by the US multinational retail giant.
The Union government is likely to come out with a liberalised foreign direct investment policy in a bid to make foreign investment an engine of growth and create large-scale employment.
Bharti Group said on Thursday that it will not dilute its share in its telecom arm Bharti Televentures even if the government raises the foreign direct investment limit in the sector.
In 2012, India attracted $22.78 billion of FDI, according to the data by Department of Industrial Policy and Promotion.
Senior Congress leader Anand Sharma on Wednesday denounced the Modi government's decision to allow 100 per cent foreign direct investment in defence sector by easing norms, saying the prime minister was working under pressure from the United States and his party would oppose it in Parliament.
It also plans to open 5 new centres across India in addition to its two fulfilment centres (FCs) in Mumbai and Bangalore.
Ten states and Union Territories have endorsed the Centre's decision to allow FDI in multi-brand retail, Minister of State for Commerce and Industry Jyotiraditya Scindia said on Monday.
Trinamool Congress Monday said Left's failure to support a no confidence motion to be brought by it in winter session will mean that their opposition to FDI in multi-brand retail "is false and sham" and voiced hope that all parties would come on board.
The Bharatiya Janata Party on Wednesday played down the remark made by Shiromani Akali Dal leader and Punjab Deputy Chief Minister Sukhbir Singh Badal on backing Foreign Direct Investment in retail if the United Progressive Alliance government addresses the concerns of traders.
The Eleventh Plan draft document has built a strong case for relaxing foreign direct investment norms in key sectors like insurance, private banking, single brand retailing and broadcasting. The draft would be discussed at full Planning Commission panel meeting on Thursday.
Cash-strapped telco Vodafone Idea's proposal for investment of up to Rs 15,000 crore through foreign direct investment (FDI) has been approved by the Union government, according to officials. A top-level group, comprising representatives from the ministries of home affairs, external affairs, finance and commerce and industry, took the decision. The nod, which is an enabling provision, would help the financially-stressed company raise funds to pay up some of its dues linked to adjusted gross revenue (AGR), reduce debts and use the money for operational expenses.
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