The note for consideration of Cabinet will follow a review of the FDI regime in the light of the experiences of the last one year, they said.
Finance Minister Pranab Mukherjee on Friday said the government is considering further liberalisation of the country's foreign direct investment policy for attracting investment in the infrastructure sector.
Also the companies should be self-sufficient in product designing and have maintenance and life cycle support facilities.
India will soon become a favourite destination for foreign investors and will be able to double the foreign direct investment that presently stood at about $4.4 billion, according to one of the architects of the country's financial policies.
In its latest lobbying disclosure report filed with the US Senate and the House of Representatives for the quarter ended March 31, 2013, the various lobbying issues of Walmart during the period included 'discussions related to FDI (Foreign Direct Investment) in India'.
India's commerce and industry minister Anand Sharma said that from 2012 the country would be able to attract 50 billion dollars annually.
The increase in FDI limit in the insurance sector may attract Rs 30,000 crore that the industry requires over the next five years, Insurance Regulatory and Development Authority has said.
Reflecting slowdown in the economy and erosion of investor confidence, foreign direct investment (FDI) in India has declined by 41 per cent to USD 1.85 billion in April.
The Cabinet approval would help more than 200 fashion and apparel brands who are lined up to enter India, including international labels such as Avva, Colin's, Damat, Tudba Deri and Dufy
The healthcare industry on Friday asked the government to revamp the foreign direct investment and capital adequacy norms for health insurance entities to make world-class medical treatment available to Indians and make the country a healthcare hub i
The government has cleared 19 foreign investment proposals, including that of Walt Disney Company and Reckitt Benckiser (India), entailing total investment of Rs 2,326.72 crore (Rs 23.26 billion).
Undeterred by global credit freeze, India maintains a bullish outlook on attracting foreign direct investment which may be governed by easier rules, a top government official said.
Prime Minister Narendra Modi on Thursday suggested the G20 trade ministers to work collectively to ensure equitable competition between large and small sellers as there are challenges in the fast growing cross-border e-commerce. In a video message at the G20 Trade and Investment Minister's meeting here, he also emphasised on the need to address the problems faced by consumers in fair price discovery and grievance handling mechanisms. "Digitising processes and use of e-commerce have the potential to enhance market access. "I am glad that your group is working on the 'High Level Principles for the Digitalization of Trade Documents'. These principles can help countries in implementing cross-border electronic trade measures, and reduce compliance burdens.
The government on Wednesday said foreign direct investment in retail will not be allowed if it hurts small retailers.
At present, global retail firms can invest up to 51 per cent in India and need a local joint venture partner.
India has emerged as one of the most favourable destinations of European and American investors among the Asian nations.
Anand Sharma, who took charge of the nodal ministry for FDI on May 29, said there is no need for a relook at the policy amended in February by the Department of Industrial Policy and Promotion. While the policy does not allow overseas inflow into this sector, the changes in February were perceived to be opening the sector to FDI up to 49 per cent in an Indian firm that has a downstream subsidiary firm in retailing.
"In the next five years, we are aiming to have $ 250 billion FDI coming into India," Commerce and Industry Minister Anand Sharma said at a CII function in New Delhi.
While the cumulative FDI inflows of $25.35 billion for April-February 2008-09 were higher than the $20.13 billion a year ago, the country has been witnessing a steep fall in foreign investments since October 2008, according to official figures. In February 2008, the foreign investment was $5.67 billion.
The inflow in December 2008 is lower compared to $1.55 billion FDI the country received in the same month in the previous fiscal. The country has set a target of $35 billion for FDI in the current fiscal.
For the first time in three years, 2004-05 saw an increase in foreign direct investment into India touching $5.5 billion, while FDI made by Indian companies doubled to $2.5 billion during the last fiscal, FICCI has said.\n\n
This FDI includes equity, re-invested earnings and other capital.
The challenge for the RBI in 2024 is likely to be less about containing elevated inflation and more about curbing excessive financial market exuberance and a 'problem of plenty', notes Sajjid Chinoy, Chief India Economist JP Morgan.
From real estate behemoths to infrastructure majors, from mobile device manufacturers to heavy engineering companies, they all made commitments to the tune of billions of dollars. Unfortunately, the reality has fallen far short.
US-based Walmart and UK-based Tesco have sought clarifications from the Department of Industrial Policy and Promotion on whether they could set up warehouses in states which are against the Centre's retail FDI policy.
The Department of Industrial Policy and Promotion in the Commerce Ministry proposes to scale back the Foreign Direct Investment ceiling for the tobacco industry from 100 to 74 per cent and insert a caveat that cigarettes manufactured in the new ventures or in upgraded facilities must be mainly for consumption outside India.Sources said the department, which is responsible for the policy on FDI, is finalising a cabinet note aimed at comprehensive review of the tobacco policy.
The Union government indicated on Thursday that it might welcome foreign direct investment in the field of higher education and formulate a policy on it.
The United Progressive Alliance government won the vote on Foreign Direct Investment in multi-brand retail not by "floor management but by fund management", alleged Bharatiya Janata Party national spokesperson Muktar Abbas Naqvi on Saturday.
BJP has strong reservations in allowing FDI in mult brand retail.
The government on Wednesday cleared 21 foreign direct investment proposals worth Rs 18.46 crore.
Strongly defending its decision to allow FDI in retail, Finance Minister Pranab Mukherjee on Thursday told Congress Members of Parliament that the government was "compelled" to suspend the move to avoid "pre-mature elections". Addressing the Congress Parliamentary Party, Mukherjee also apologised to members who had supported the government in allowing FDI in retail but said going ahead with the decision could have created a "crisis" for the government.
Flaying the Centre's decision to allow Foreign Direct Investment in retail, Tamil Nadu Chief Minister Jayalalithaa on Sunday alleged it was taken under pressure from a few retail giants and asserted her government would not allow multi-brand global players to set up their markets in the state.
India may allow selective foreign direct investment from Pakistan, if the political situation in the neighbouring country improves. At the moment, both the countries do not allow FDI flows between each other.
Foreign cigarette companies could soon find it harder to sell their products in India. The government is looking into a proposal to ban foreign direct investment (FDI) in the wholesale marketing arms of these companies. It is also exploring the possibility of shifting the import of tobacco products from the open general licence (OGL) to the restricted list.
Foreign direct investment into India is set to double and cross $11 billion this fiscal, Commerce Minister Kamal Nath said.
Admitting that infrastructural bottlenecks were deterring foreign investment, the finance ministry on Wednesday said FDI inflow declined by 24 per cent to $4.66 billion last fiscal.
The foreign investment proposal by Italian jewellery brand Damiani to set up a 51:49 joint venture with Mehta's Pvt Ltd also got the government's approval, sources said.
A DoT panel has suggested completely opening up the telecom sector to foreign direct investment, a move which is expected to bring in fresh funds into the industry that is facing a financial crisis.
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