Industry experts say that the government needs to further relax FDI norms to attract investors to the sector.
The Enforcement Directorate has upgraded its Look out Circular (LC) issued against Byju's founder and CEO Byju Raveendran in connection with a FEMA probe, seeking to stop him for going abroad. The earlier such alert meant that immigration authorities had to just intimate the agency about his movements through various ports. Official sources said that the over an year old LC was revised sometime back in light of investors' concerns and ongoing adjudication of a FEMA contravention case against Raveendran and some others.
Ahead of his meeting with Congress members of Parliament to allay their apprehensions on FDI, Mukherjee met Gandhi at her 10, Janpath residence for about 10 minutes, party sources said.
Defence Minister A K Antony expressed his displeasure to Prime Minister Manmohan Singh, in presence of their Cabinet colleagues on Thursday, for permitting 51% Foreign Direct Investment in multi-brand retail.
Foreign direct investment in the multi-brand retail may be allowed subject to a stiff condition that global retailers will have to invest heavily in the back-end infrastructure like warehousing and cold storage.
Ministerial consultations on, with recognition of the potential, and the need to not classify it under the same rules as for pharmaceuticals.
The FDI inflows in July 2009 were $3.51 billion. Contrary to smart recovery in the domestic economy and a rebound in exports, overseas investment show a slackening trend in the current fiscal, an official told PTI.
After declining for two months in a row, foreign direct investment (FDI) in India grew by 8 per cent year-on-year to $2.15 billion in January.
With a view to simplify foreign direct investment process, the government plans to introduce a single FDI document by end-fiscal and is currently discussing the various modalities, Commerce and Industry Minister Anand Sharma said on Monday.
The department of telecom has rejected any suggestion to put 74 per cent foreign direct investment under the automatic route saying it is not feasible on account of national interest.
FIPB may be asked to vet downstream projects.
The BJP-led government may not permit foreign retailers to open mega stores in the country as such a move may adversely impact small traders and farmers, new Commerce and Industry Minister Nirmala Sitharaman indicated.
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.
Notwithstanding its inability to open multi-brand retail for foreign investment, government on Tuesday notified 100 per cent FDI in single-brand retail, paving way for global chains like Adidas, Louis Vuitton and Gucci to have full ownership of their India operations.
Defending its policy of liberalising foreign direct investment in retail, the government confirmed that it would go ahead with its plan to expand its ambit.
The fDi Personality of the Year awards recognise the political and business leaders around the world who have been the most proactive, dynamic and innovative in securing foreign investment and improving the business environments of their jurisdictions.
FDI is essentially long-term investments that come with added benefits such as better technology, management and marketing assistance, says the study.
Citing security concerns the Home Ministry has opposed hike in Foreign Direct Investment (FDI) caps in sectors like aviation and telecom, Lok Sabha was informed on Tuesday.
The department of industrial policy and promotion, nodal agency for FDI policy under the ministry of commerce and industry, seems to have prepared a note for the Cabinet Committee of Economic Affairs to consider.
Analysts say July 23, 2011, was like a red letter day for foreign investors when the Committee of Secretaries, headed by Cabinet Secretary Ajit Kumar Seth, recommended opening up the multi-brand retail trade.
Services attracted the most FDI during the first eleven months period of 2015-16.
Maintaining that it was opposed to FDI in retail, the Samajwadi Party on Thursday made it clear it was not keen to 'piggyback' on the Bharatiya Janata Party over its demand for discussion on the issue under a rule that entails voting.
The Union ministry of food and consumer affairs proposes to insert a new clause in the fresh discussion note for the Cabinet on allowing foreign direct investment (FDI) in multi-brand retail.
"Call it a craze, fever or national interest but HSR is our window to the outside world."
India needs to fully open its retail market to foreign investors in order to drive economic growth, although the subject was strictly taboo till last year because of pressure from the government's allies and livelihood concerns.
China continues to attract good inflows of foreign direct investment, with $3 trillion of forex reserves.
The government on Tuesday said it would carefully consider proposals of a parliamentary standing committee to allow FDI in pension sector on the pattern of the insurance sector.
The decision to increase FDI in single brand retail was taken by the Cabinet on November 24 along with opening the gates for overseas investment in the multi-brand retail.
The government liberalised FDI policy in sectors, including multi-brand retail, single-brand retail, commodity exchanges, power exchanges, broadcasting, non-banking financial institutions and asset reconstruction companies.
The other sectors where inflows have declined include pharmaceuticals ( $680 million).
The Department of Industrial Policy and Promotion (DIPP) under the Ministry of Commerce has called a meeting on July 10 to discuss the foreign direct investment (FDI) policy in the cigarette industry.
Left parties on Monday decided to extend support to the 'Bharat Bandh' called by Confederation of All India Traders on December 1 to protest the Centre's decision to allow FDI in retail.
The government will release the revised consolidated FDI policy paper, a ready reckoner on foreign investment related regulations for overseas investors, on September 30.
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.
Till the other day, the Indian National Trade Union Congress (INTUC) had made no secret of its opposition to foreign direct investment in multi-brand retail. But the trade-union wing of the ruling Congress party at the Centre has now had a change of heart.
