Backing Centre's decision to allow foreign direct investment in multi-brand retail, Congress leader Rahul Gandhi has said the decision will help farmers prosper by removing middlemen from the supply chain and generate new jobs.
West Bengal Chief Minister and Trinamool Congress chief Mamata Banerjee will on Monday lead a party demonstration at the Jantar Mantar in New Delhi to urge the Congress-led United Progressive Alliance government to withdraw its decisions relating to FDI in multi-brand retail, cap on subsidised LPG and diesel price hike.
Prime Minister Manmohan Singh will address the nation on Friday night to explain the government's recent decisions on economic reforms, which have triggered widespread political protests across the country. The prime minister will address the nation at 8 pm on Doordarshan about the recent decisions on economic reforms, officials said.
Finance ministry officials are of the view that current restrictions that prohibit FDI in multi-brand retail cannot be extended to franchise agreements between an Indian company and an overseas partner.
The four-day logjam in Lok Sabha over foreign direct investment in retail ended Thursday with Speaker Meira Kumar allowing a discussion on the subject under a rule that entails voting.
The chief minister held that foreign investors would try to capture the retail sector that would subjugate the farmers and destroy local retailers and the common man would not benefit in any way.
Etihad and Qatar Airways have held informal talks with Kingfisher and SpiceJet to expand their footprints in India.
Banerjee said that traders would be hard hit by the Centre's decision on allowing FDI entry in retail.
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.
The government has cleared the FDI in multi-brand retail.
With her latest masterstroke, Trinamool Congress chief Mamata Banerjee has made Congress lose its credibility in the eye of the aam admi, says Sheela Bhatt
Finance Minister Jaswant Singh on Wednesday cleared 30 foreign direct investment proposals worth Rs 130.25 crore.
India's Commerce and Industry Minister Kamal Nath has been honoured as global 'FDI Personality of the Year 2007' by a Financial Times Group publication.
Government assured the Rajya Sabha on Thursday that security interests of the country would never be compromised while permitting larger foreign investments.
As Chinese President Hu Jintao arrives in New Delhi, India made it clear on Monday that the proposed regulations on security aspects of foreign direct exchange would not be loaded against any specific country, including China.
He said policy could not be rigid, while declining to say by when FDI in multi-brand retail would be allowed.
The government is considering a proposal to examine foreign direct investment applications on a sector-wise, rather than country-wise, basis to assess their threat to national security.
In the wake of reforms announced by the government in insurance and pension sectors, the Bharatiya Janata Party on Thursday said that while it is not opposed to more Foreign Direct Investment in these areas, certain caveats and conditions should be met to "safeguard the interest of the people".
While the Congress will firm up its strategy once the ruling alliance tables the Bill, initial comments by its leaders have been encouraging.
The Department of Telecom on Monday said it would hold consultations with various operators on the issue of foreign direct investment but denied that the FDI issue was in any way linked to unified licencing regime.
The minister is on a two-day visit to Russia for India-Russia Business Dialogue, held under the umbrella of the St Petersburg International Economic Forum 2012.
Startup founders need to sit up and think about how not to take stardom for granted and how not to disappoint their fans who have stood in long queues for those precious selfies with popular entrepreneurs, notes Nivedita Mookerji.
The Samajwadi Party on Thursday said it will vote against the decision to introduce Foreign Direct Investment in retail sector in the Rajya Sabha, where the United Progressive Alliance does not have majority on its own. "We will vote against FDI in Rajya Sabha if the government brings it there," said SP's leader in the Upper House Ramgopal Yadav.
Wiser from the Hutch-Vodafone experience, the government is now thinking of clubbing both direct and indirect overseas investment to determine the extent of foreign direct investment in a company.
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'.
The government proposes to treat the investments by foreign institutional investors in pre initial public offers (IPOs) of real estate companies at par with foreign direct investment.
The Department of Industrial Policy and Promotion in its draft Cabinet has proposed to further tighten the rules for foreign direct investment in brownfield pharmaceutical sector.
The government on Friday said it is looking at having a uniform foreign direct investment cap in different business segments within a sector as part of the review to streamline foreign investment regulations.
In a major decision to liberalise the broadcast sector, the government on Friday decided to raise FDI cap to 74 per cent in various services of the sector, except the TV news channels and FM radio where the cap of 26 per cent will apply.
'After 2011-2012, both our investment rate and savings savings rate have declined. 'Correspondingly, the savings rate in the economy as percentage of GDP, also has come down.'
FDI inflows, in August last year, stood at $2.32 billion, the Reserve Bank said in its bulletin.
The Union Cabinet is expected to soon consider a proposal to increase foreign direct investment cap in broadcasting services like Direct-to-Home and cable TV networks to a uniform 74 per cent.
US foreign direct investment inflows into India will increase to $1 billion annually by 2010, according to Indo-American Chamber of Commerce.
While FDI equity flows were $5.5 billion in 2005-06, it increased almost three times to $15.7 billion in 2006-07. We have set a target of $30 billion in 2007-08, Union Minister for Commerce and Industry Kamal Nath said on Tuesday.
The Centre has finalised sweeping changes to the country's foreign direct investment (FDI) policy to account for increasing concerns voiced by security agencies.
The industry ministry on Monday proposed foreign direct investment up to 74 per cent in the defence sector from the present 26 per cent, stating urgent upgrade of equipment in the armed forces was needed as a bulk of them suffered from obsolescence.
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.
White labeled ATMs are set up by private non-bank companies that own and operate their own brand of ATMs.
