The government on Friday approved 32 foreign direct investment proposals worth Rs 181.16 crore (Rs 1.81 billion).
Although UPA government has somehow managed to scuttle Opposition's stiff antagonism to FDI in multi-brand retail in both the Houses of the Parliament, it has certainly opened itself to the charge of being a minority government, analyses Renu Mittal.
Apprehending that the Samajwadi Party and the BGahujan Samaj Party would bail out the United Progressive Alliane on FDI in retail, the opposition in Lok Sabha on Wednesday warned these parties as also Dravida Munetra Kazhagam that history will not pardon them if they sided with the government on the issue despite opposing it during the nationwide protest.
A proposal to permit foreign airlines to pick up stake in domestic carriers is among the several measures being considered by the government to help the Indian aviation industry overcome the financial crunch.
Faced with a deadlock in Parliament over FDI in retail, Government has convened an all-party meeting in New Delhi on Monday as the Left and the Right have remained adamant on discussion under a rule that entails voting.
The issue of Foreign Direct Investment in retail is expected to generate a storm in the Winter Session of Parliament beginning next week, with the Left parties on Friday announcing their decision to move motions entailing voting to oppose the government's decision.
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.
Anand Sharma said the Rs 2,060-crore Jet-Etihad deal falls in line with new 'control' definition.
Ministry officials said the matter is being reviewed with the objective of bringing down the FDI cap from 100 per cent to 26 per cent in line with the limit for news media. This decision for the review was taken while discussing the proposal of US-based Dow Jones and Company for setting up a wholly-owned subsidiary to carry out publishing the facsimile edition of Wall Street Journal in India.
Most investments by Indian corporate houses in the overseas market is through countries that have either low tax rates or allow tax-free remittance of income. Much of the outward foreign direct investment (FDI) by India Inc done between April and December 2007 was directed to Singapore, the Netherlands and British Virgin Islands (BVI), according to the latest Reserve Bank of India data. RBI said the actual outward FDI in April-December 2007 grew 13 per cent at $10.11 billion.
A Planning Commission panel has suggested allowing foreign investors to own a larger share in domestic insurance companies. The group, chaired by Planning Commission member Anwarul Hoda, has also said that foreign direct investment restrictions on reinsurance companies should be removed.
A section of traders and hawkers today staged protests in various parts of the country against the government's decision on FDI policy in multi-brand retail, the Confederation of All India Traders (CAIT) said.
The government looks all set to open up the retail sector beginning with food and a proposal in this regard is expected to go before the Cabinet by next month.
The flow of foreign direct investment into China, dubbed as the world's factory, continued its slight decline in the first eight months this year.
The UPA Government continued to display its commitment to reform agenda as the Cabinet today gave nod to two important financial sector reform bills, aimed at increasing foreign direct investment (FDI) in the insurance sector to 49 per cent from the current 26 per cent and opening up of the pension sector. Besides, the Cabinet approved the Companies Bill, 2011.
Bahujan Samaj Party leader Mayawati has decided to support the government on FDI as she does not want to destabilise the government, reports Renu Mittal
The IRDA favours for a hike in FDI cap from 26 to 49 per cent and amendments in legislations to enable greater flexibility in investment.
In recognition of his efforts in making India an attractive foreign direct investment destination, Commerce and Industry Minister Kamal Nath has been selected as the "Global fDi Personality of the Year
Bahujan Samaj Party supremo Mayawati on Friday kept up the suspense on her party's stand on voting on the Foreign Direct Investment in retail issue in Rajya Sabha, saying it will be declared on the floor of the House.
Trinamool Congress chief Mamata Banerjee cited a statement by former Union Finance minister Pranab Mukherjee in the Lok Sabha on December 7, 2011, alleging that the Centre had deviated from its own statement.
Left leaders Sitaram Yechury and A B Bardhan on Thursday shared dais with Bharatiya Janata Party's Nitin Gadkari and Murli Manohar Joshi at a demonstration against FDI in retail and hike in diesel prices.
This means the cable companies engaged in last-mile distribution of TV channels will qualify for the existing 49 per cent FDI limit, while operators of DTH, HITS, IPTV and multi-system operators will be able to bring in up to 74 per cent FDI, a limit proposed by broadcast regulator Telecom Regulatory Authority of India.
Maharashtra and the National Capital Region accounted for over 50 per cent of foreign direct investment inflows into the country during the first half of 2010-11, says the latest Industry Ministry data.
After topping it for two consecutive years, Gujarat slipped three places on the NITI Aayog's Export Preparedness Index (EPI) for 2022, as Tamil Nadu emerged as the most export-ready state, the central think tank said in its report released on Monday. In a continuing trend, coastal states were found to have the most robust export infrastructure, which officials attributed to the integration of maritime trade into the core of their economies. Maharashtra and Karnataka retained their positions -- second and third, respectively; Haryana was ranked first among landlocked states and fifth overall.
The document consolidating all the aspects of foreign direct investment policy and framework will be released by commerce and industry minister Anand Sharma, an official said.
The Communist Party of India on Thursday voiced strong opposition to the Budget proposal to increase foreign direct investment cap in three key sectors of telecommunication, insurance and aviation threatening to take to the streets on this issue.
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