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.
India will need $8 trillion (around Rs 588 lakh crore) of gross capital formation or new greenfield assets to become a $5 trillion (around Rs 368 lakh crore) economy by FY2027, a report said. The report by Deloitte said despite the COVID-19 disruption, FDI inflow into the country provides necessary optimism and display underlying strengths of the Indian economy. In FY2020-21, FDI inflows (including equity, re-invested earnings, and capital) amounted to a record $81.72 billion, 10 per cent higher than the previous financial year, it said.
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.
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.
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 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.
FDI inflows, in August last year, stood at $2.32 billion, the Reserve Bank said in its bulletin.
The winter session of Parliament has already witnessed several disruptions and adjournments. In Tuesday's session, the Opposition is expected to give a tough time to the Congress-led United Progressive Alliance government over the issue of FDI in retail.
The winter session of Parliament has already witnessed several disruptions and adjournments. In Tuesday's session, the Opposition is again expected to give a tough time to the Congress-led United Progressive Alliance government over the issue of FDI in retail.
The winter session of Parliament has already witnessed several disruptions and adjournments. In Tuesday's session, the Opposition is again expected to give a tough time to the Congress-led United Progressive Alliance government over the issue of FDI in retail.
The winter session of Parliament has already witnessed several disruptions and adjournments. In Tuesday's session, the Opposition is expected to give a tough time to the Congress-led United Progressive Alliance government over the issue of FDI in retail.
Well aware that the government cannot control inflation through RBI's monetary tools only, the Centre tried to inbuilt a supply-augmenting mechanism in the economy by opening multi-brand retail to 51 per cent FDI, but vehement opposition from the Opposition and even some of the United Progressive Alliance allies forced it to hold back the decision.
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.
Government is likely to face stiff opposition on FDI in retail in the Monsoon session of Parliament beginning on August 8.
The Centre has finalised sweeping changes to the country's foreign direct investment (FDI) policy to account for increasing concerns voiced by security agencies.
Stepping back to break the logjam in Parliament, the government on Wednesday put the controversial decision on foreign direct investment in retail on the backburner till a consensus is evolved, a proposal the entire opposition and the dissenting allies accepted without reservation.
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.
Virtually rejecting demands from within United Progressive Alliance and outside for rollback of foreign direct investment in retail, Prime Minister Manmohan Singh on Tuesday justified the decision as a well considered move.
The 10-nation regional block of Association of South East Asian Nation (ASEAN), and not China and India, is the leading destination of America's foreign direct investment, a top US trade official said Monday.
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.
US foreign direct investment inflows into India will increase to $1 billion annually by 2010, according to Indo-American Chamber of Commerce.
The UK's 697 projects created a 1.4 per cent rise in foreign direct investment jobs to 30,311.
Bharti Walmart is a 50:50 joint venture set up in 2007 between Bharti Enterprises and Walmart and is engaged in wholesale cash and carry trade.
Foreign direct investment (FDI) in India's aviation sector is long overdue; the Cabinet should back Mr Singh's decision -- which was taken following a meeting with Finance Minister Pranab Mukherjee, Petroleum Minister Jaipal Reddy and Commerce Minister Anand Sharma.
The outbound FDI is also expected to increase, resulting in net FDI inflow of $24 billion.
USTR has said India imposed several barriers in major services industries such as insurance, banking, audiovisual, accounting, legal, telecommunications, distribution services, postal and express delivery services.
In the midst of the debate on foreign direct investment versus national security, finance ministry has opposed any restriction on flow of investment from any specific country and said a case-by-case scrutiny should address such concerns. \n
The Union Cabinet in its decision of November 24, which has since been put on hold, permitted 51 per cent FDI in the multi-brand retail, well above expectations of the Walmart and its Indian joint venture partner -- Bharti Group.
Leader of Opposition in the Lok Sabha Sushma Swaraj on Monday demanded that the United Progressive Alliance government convene an all-party meeting over the issue of Foreign Direct Investment in retail before making any statement on it in the Parliament.
The Opposition in the Rajya Sabha on Wednesday vociferously opposed any move to allow Foreign Direct Investment in general retail trade and demanded a full discussion on the issue.
The government does not propose to permit foreign direct investment in retail business, Commerce Minister Arun Shourie assured the Lok Sabha on Monday.
With regard to foreign institutional investors, the survey said that there are signs that FIIs who had recorded net outflows in 2008-09 may have returned to the Indian market in the last two months.
The decision is likely to bring in at least Rs 5 lakh crore of fresh investments into the sector over five years by improving connectivity and competition
The Union Cabinet on Thursday approved the extension by four months, the deadline for telecom companies to comply with guidelines on Foreign Direct Investment.
FIPB rejects proposals from firms that have not divulged details of beneficial ownership or source of funding
In a sudden turn of events, the Centre has decided to put on hold the controversial decision about FDI in retail sector, in an apparent bid to break the Parliament logjam. West Bengal Chief Minister Mamata Banerjee, whose party Trinamool Congress is strongly opposed to the decision, claimed on Saturday that Union Finance Minister Pranab Mukherjee spoke to her and told her that the FDI decision has been "suspended".
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