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.
"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.
Experts say with a stable government, things will start improving but the impact might be visible only after six-12 months.
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.
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.
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.
Did you miss out on the debates in Lok Sabha on FDI in retail? Read the debate texts here
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.
In July 2010, the country attracted FDI worth $1.78 billion.
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.
China has approved 8,152 new foreign-invested companies over the past four months, a rise of 8.61 per cent year-on-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 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.
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.
The Cabinet on Thursday raised the foreign direct investment limit in petroleum sector to 100 per cent.
Rakesh Gangwal's holding is considered FDI even though the majority stake in Caelum is held by NRIs
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.
Data show leather got just 0.12% of the total FDI inflows during August 1991-March 2007.
Trai and telecom companies are divided in their views on the issue of raising the foreign direct investment (FDI) limit in various media-related activities like cable television, direct-to-home, etc. Trai has proposed across-the-board increase in the FDI limit across cable (49 per cent), DTH (49 per cent), HITS (no existing limit) and satellite radio (no existing limit) to 74 per cent, as allowed in the telecom sector. Companies like Bharti Airtel are supporting this proposal
Fanning the hopes of private industry, the government today said it would consider allowing 49 per cent foreign investment in the defence sector "on a case-to-case basis."
The government will draw up FDI guidelines for minor investors and set up an exclusive park for overseas units.
She wondered whether reforms meant pointing guns at farmers and that there would be no shopkeepers in the localities.
In 2016, (till April 22), 64 proposals have been received.
Neither the BJP, nor the Congress before it, made any manifesto commitments on defence spending, even though allocations have plummeted from 4 per cent of gross domestic product (GDP) in the late 1980s to less than 2 per cent today, points out Ajai Shukla.
The Bahujan Samaj Party on Monday indicated that it will support the government in Parliament on the issue of Foreign Direct Investment, saying the fact that the Centre has not thrust the policy on states and the aim of keeping communal forces at bay will determine its stand.
India's current account deficit narrowed to $1.3 billion or 0.2 per cent of GDP in the January-March quarter of FY23, mainly due to moderation in the trade deficit and a robust increase in services exports, RBI data showed on Tuesday. However, for the 2022-23 fiscal, the current account balance recorded a deficit of 2 per cent of GDP compared to 1.2 per cent in 2021-22. "India's current account deficit (CAD) decreased to $1.3 billion (0.2 per cent of GDP) in Q4:2022-23 from $16.8 billion (2.0 per cent of GDP) in Q3:2022-231, and $13.4 billion (1.6 per cent of GDP) a year ago [Q4:2021-22]," as per the RBI's 'Developments in India's Balance of Payments during the Fourth Quarter (January-March) of 2022-23'.
This much needed reform will also help the consumer who is hit with an eight per cent inflation in the month of August mainly for food items and we also expect to see quality improved with products delivered to the market place and the farmers getting a bigger share of the pie, INOC (I) said in its statement.
With the 72-hour deadline to the Centre to rollback diesel price hike, LPG subsidy cap and FDI in multi-brand retail expiring on Monday, the Trinamool Congress mounted fresh pressure with a Union minister belonging to it listing three options, including withdrawal of support to the United Progressive Alliance.
The storm over the issue of Foreign Direct Investment in retail refused to subside with the matter, along with quota in promotions for Scheduled Castes and Scheduled Tribes, paralysing proceedings in Parliament for the second day on Friday.
The proposal was mooted by the department of industrial policy and promotion in the ministry of commerce and industry.
The final guidelines for raising the foreign direct investment ceiling in telecommunications to 74 per cent may be issued soon.
India, at present allows 51 per cent FDI in single brand retail and 100 per cent in the cash-and-carry .
At a time when Bharatiya Janata Party and several other parties have also opposed FDI in retail, the Left leaders said they have appealed to all parties to support the motions in both Houses of Parliament.
Ahead of the key vote by Hutchison Telecom shareholders on sale of Indian assets to Vodafone, the Hong Kong-based firm and its minority partners in Hutch-Essar have asserted that their investments met foreign direct investment norms
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).
"It is unprecedented. When Parliament is in session, a major decision was taken outside Parliament. It has never happened," Communist Party of India-Marxist leader Sitaram Yechury told reporters outside Parliament House.
