India currently allows up to 100 per cent FDI in this sector, but the health ministry has moved a draft note for the cabinet to ban foreign investment in this sector
The Lok Sabha will on Tuesday take up discussion on the issue of Foreign Direct Investment in multi-brand retail under rule 184 that entails voting.
Senior party leader and member of the national executive committee Yogendra Yadav said that the party had over 1.5 million members and it was only the opinion of the party officer bearers and spokespersons that was relevant.
But completion occupancy certificates to be mandatory.
Prime Minister Manmohan Singh on Friday night hosted a dinner for United Progressive Alliance leaders where the Dravida Munnetra Kazhagam is understood to have insisted that government should avoid voting in Parliament on FDI in retail, making clear its reservation on the issue.
The move to open multi-brand retail to foreign direct investment may run into rough weather, with key Bharatiya Janata Party-ruled states, as well as some constituent parties of the ruling United Progressive Alliance, rejecting or being ambivalent towards the proposed policy.
Demanding withdrawal of the decision, the Communist Party of India said the government had opened up telecom sector when the country was 'yet to overcome the loot and losses due to 2G spectrum scam'.
In matters of policy, this court will not interfere unless it is unconstitutional, the judge declared.
The Foreign Investment Promotion Board on Friday cleared 68 per cent foreign shareholding in cellular company Hutchison Essar, including the 10 per cent indirect stake held by Egyptian telecom operator Orascom.
Experts say with a stable government, things will start improving but the impact might be visible only after six-12 months.
FDI inflow of $14.6 billion in the first five months of 2008-09 showed an impressive growth of 124 per cent over the same period last year. Earlier, in October the government had expressed optimism saying India would exceed its target of $35 billion this fiscal. Sectors that attracted maximum FDI in 2007-08 were services, telecom, housing, construction activities, real estate, electrical equipment, computer software and hardware.
"We will oppose the decision of the government both at the Centre and by the state governments. The decision of the government would not only affect our domestic retail sector but would also destroy domestic manufacture because the foreign companies would be able to buy products from other countries and flood our markets with imported goods made available at these retail chains," said a senior BJP leader who is among the policy makers in the party.
Did you miss out on the debates in Lok Sabha on FDI in retail? Read the debate texts here
Facing a possible slowdown in the face of a sluggish growth in developed economies, especially in the US, the Economic Survey on suggested on Thursday a series of reforms including hiking FDI in insurance and retail sector to sustain the 9 per cent rate of economic expansion.
The Bharatiya Janata Party on Saturday refused to accept Prime Minister Manmohan Singh's contention -- that no international pressure was behind the decision to allow FDI in multi-brand retail -- and alleged that he has done a U-turn on his own stance earlier.
Charging the Indian government with "protectionist thinking", European Union on Monday pitched for hiking the FDI cap in media from the present level of 26 per cent.
The Bharatiya Janata Party on Saturday said implementation of FDI in multi-brand retail will make India a nation of "sales boys and sales girls" and it hoped to see the end of the United Progressive Alliance government on the issue.
India received less foreign direct investment in 2010 than the previous year, courtesy a modest recovery in the global economy which reduced the risk and expansion appetite of corporates across the world.
In July 2010, the country attracted FDI worth $1.78 billion.
China has approved 8,152 new foreign-invested companies over the past four months, a rise of 8.61 per cent year-on-year.
Foreign direct investment to China touched $60.63 billion in 2004, registering an impressive growth of 13 per cent, the ministry of commerce said in Beijing.
At a time when the world economy is facing the worst credit freeze in several decades, India attracted $2.7-billion FDI in January, up 58.8 per cent from a year ago, and remained a favourite destination for cross-border investments.
Big ticket investments by Vodafone and Matsushita Electric lifted FDI inflows in the first half of this fiscal to $7.2 billion, a 65 per cent rise from the year-ago period. India retained its position as the second most preferred destination for global investors as measured by the AT Kearney FDI Confidenx Index, 2007.
Govt's decision to allow FDI will attract capital, boost confidence and soothe the nerves, say experts.
On the trend of paddy-wheat cycle in Punjab, he said it was not only affecting fertility of the agricultural land, but was also causing depletion of underground water in the state.
In 2016, (till April 22), 64 proposals have been received.
Rakesh Gangwal's holding is considered FDI even though the majority stake in Caelum is held by NRIs
UNCTAD on Wednesday placed India among the top four Asian FDI destinations and said it will get more foreign investment flows as global economy rebounds this year.
Finance Minister P Chidambaram has approved 18 FDI proposals totalling Rs 1,820.24 crore (Rs 18.20 billion), including Manipal Educational Group's to induct foreign investment of Rs 1,435 crore (Rs 14.35 billion) in a holding company and US-based Freightcar to set up a joint venture for railcars.
The minister gave an example of how in Kochi, the commercial capital of Kerala, there are shopping complexes and retail stores, but the blooming of such stores had no negative impact on the farmers and traders.
In a dramatic turn of events in May 2019, an Emirates aircraft en-route to Dubai was asked to stop while it was taxiing for a take off in Mumbai. The pilot was given no reason and ordered to immediately return to the parking bay. As the aircraft returned to the terminal, two passengers from the first class - Naresh Goyal and his wife Anita - were offloaded by the immigration authorities, who said the duo cannot leave the country. Goyal, founder of Jet Airways, was stunned. The man, who ruled the aviation sector for two and a half decades with an iron hand, did not expect to be offloaded in this fashion.
The retrospective tax controversy was highlighted by Vodafone, but Cairn Plc's continuing problems point to the impact this law has had on FDI in India's oil and gas sector.
The Cabinet on Thursday raised the foreign direct investment limit in petroleum sector to 100 per cent.
The government also increased the power of the FIPB.
She wondered whether reforms meant pointing guns at farmers and that there would be no shopkeepers in the localities.
During the 10-months of this financial year, the highest FDI came in services ($1.80 billion), followed by pharmaceuticals ($1.26 billion), automobiles ($1 billion) and construction development ($966 million).
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances