Amending the Foreign Exchange Management Regulations, the RBI said that its prior permission would not be necessary where the company whose shares are being transferred is engaged in any financial service.
Some of the domestic biggies like Future Group, Reliance Retail and Aditya Birla Retail, while welcoming the government's move to allow 51 per cent FDI in multi-brand retail and completely open single-brand retail, said it will take time for foreign rivals to make presence felt on their own in the Indian retail landscape.
In a major decision that will inject new vigour into print media, the government on Thursday allowed India editions of foreign magazines with news and current affairs content with 26 per cent foreign direct investment.
Clause on 30% sourcing from Indian SMEs a particular concern.
Prime Minister Narendra Modi's goal of making India a high-income economy by 2047 is unlikely to be achieved, but the country should become an upper middle-income nation by then, Financial Times chief economics commentator Martin Wolf said on Friday. Wolf further said that India would also become a superpower by 2047. "India wishes to become a high-income country by 2047.
The Indian government on Wednesday permitted owners of the daily foreign newspapers to make 100 per cent FDI (foreign direct investment) in their facsimile editions published in India.
The world's largest retailer Walmart on Wednesday said its investments in India will grow manifold if foreign direct investment regulations on multi-brand retail are relaxed in the country.
Japan and India signed a 5-point action agenda to increase bilateral trade and investment between the two nations.
India could allow global online retailers such as Amazon.com Inc to sell their own products as early as next month, removing restrictions that could boost competition in one of the world's biggest, and most price-sensitive, retail markets.
An article on 'State of the Economy' in the monthly Bulletin also said the improvement in the outlook for agriculture and the revival of rural spending have turned out to be the bright spots in the evolution of demand conditions. Consumer price inflation ticked up in June 2024 after three consecutive months of moderation as a broad flare-up in vegetable prices halted the overall disinflation that had been underway, it said.
Though international biggies are already in India, they are yet to formalise plans for front-end multi-brand retail.
'While my generation carries with it the memory of the Chinese perfidy of 1962, this generation will carry the memory of Chinese perfidy in Galwan.'
'It was inspired by the Hamas attack and was like their attack -- well planned and well executed.'
The spike in volatility, amid election uncertainty, has done little to dent the confidence of retail investors, shows demat account addition and equity mutual fund (MF) investment data. In May, investors opened a net 3.6 million demat accounts, taking the total to 158 million. MF data released on Monday pegged the net inflows into equity schemes and SIP investments at new record highs of Rs 34,697 crore and Rs 20,904 crore, respectively.
The Maharashtra government has said the state is the most favourable investment destination in India, quoting the AT Kearney FDI Confidence Index Report.
The exodus of foreign investments from Indian equity markets continued unabated, with FPIs pulling out nearly Rs 20,000 crore in the last five trading sessions on higher valuations of domestic stocks and shifting their allocation to China. As a result, foreign portfolio investors (FPIs) have turned net sellers in the equity market, with total outflows reaching Rs 13,401 crore for 2024 so far. Going ahead, the FPI selling trend is likely to continue in the near term till data indicate the piossibility of a trend reversal.
The Information and Broadcasting Ministry said on Wednesday the newspapers will be brought out by Wall Street Journal India Publishing Private limited, a wholly owned subsidiary of Dow Jones and Company Inc, USA.
Domestic chains rejoice at Cabinet's in-principle nod to 51% cap, most of them call it a positive development.
Foreign direct investment in India has seen unprecedented growth in the recent years. FDI's contribution in India's GDP too is on the rise.
Challenging the decision of the Biden Administration to investigate the activities of Indian billionaire Gautam Adani and his companies, an influential Republican lawmaker on Tuesday said such selective actions risk damaging critical alliance partners.
Market participants do not expect any immediate impact on the rupee from the Reserve Bank of India's (RBI's) a "comprehensive" master direction aimed at strengthening the framework for hedging foreign exchange risks. RBI Governor Shaktikanta Das, in his monetary policy statement, revealed that the central bank is poised to issue a master direction to consolidate guidelines for all types of forex transactions. But this development, according to market players, is more of a directional guidance than a mandatory directive.
The US Fed interest rate decision, inflation data and FIIs are the key factors that are expected to drive stock markets this week, analysts said. Global trends will also be tracked by investors for further cues, they added. "The Indian stock market's future trajectory will be influenced by a blend of global and domestic factors.
Last October's circular meant that downstream investment by such funds by way of subscription or acquisition of shares would have been considered "indirect foreign investment" if their investment manager or sponsor is owned or controlled by a non-resident. The finance ministry has now said that mutual funds that invest more than 50 per cent in equity shall be omitted from the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996.
From the 30-share blue-chip pack, ITC Hotels, IndusInd Bank, Mahindra & Mahindra, Sun Pharma, UltraTech Cement and NTPC were among the biggest gainers. Titan, Kotak Mahindra Bank, Nestle, Asian Paints, HCL Tech and ICICI Bank were among the laggards.
Foreign investors turned net sellers in October, offloading shares worth Rs 27,142 crore in just the first three days of October due to intensifying conflict between Israel and Iran, a sharp rise in crude oil prices, and improved performance of Chinese markets. The outflow came after FPI investment reached a nine-month high of Rs 57,724 crore in September. Since June, Foreign Portfolio Investors (FPIs) have consistently bought equities after withdrawing Rs 34,252 crore in April-May.
China has defended its newly-released AI tool DeepSeek, after several countries, including India, imposed restrictions on government officials accessing it. Beijing claims actions against DeepSeek amount to "politicisation" of trade and tech issues and vowed to protect the interests of its companies. India's Finance Ministry directed officials to avoid using DeepSeek on office devices, citing confidentiality risks. The tool has garnered global attention for its low-cost model and efficient use of resources, surpassing ChatGPT in popularity on Apple's Appstore.
'If Pakistan's army wants to escalate violence in Kashmir, they have an unlimited supply of jihadis they can train and send. That's not an issue for them.'
The approval will, however, be subject to the regular conditions on valuation and pricing norms laid down by the Reserve Bank of India.
Mamata Banerjee, who had pulled out of UPA-II over FDI in retail, among other issues, would dedicate mall to people of Kolkata.
Alternative Investment Fund refers to any fund established or incorporated in India which is a privately pooled investment vehicle that collects funds from sophisticated investors, whether Indian or foreign.
Shedding its opposition, the Bar Council of India (BCI) on Wednesday took a significant decision to permit foreign lawyers and law firms to practise in areas such as foreign law, international legal issues and arbitration matters, saying that the legal fraternity here may be left behind if it sleeps over the matter.
Outbound foreign direct investment last month was almost 47 per cent less than the $2.74 billion in November, according to the Reserve Bank data released on Wednesday.
Insurance sector regulator IRDAI has given conditional approval to Hinduja Group firm IndusInd International Holdings Ltd (IIHL) for the takeover of debt-ridden Reliance Capital. "We are happy to acknowledge the receipt of approval from IRDAI yesterday (May 10, 2024) on the auspicious occasion of Akshay Tritiya. "The approval is subject to certain 'regulatory, statutory, and judicial' clearances/compliances," an IIHL spokesperson said in a statement.
In September, industrial growth fell to just 1.9 per cent, its lowest in two years. Inflation is at 9.73 per cent, its 10th month above nine per cent.
The organised market is likely to grow to Rs 4.8 trillion by 2016-17.
Foreign direct investment into India increased by 60 per cent to $4.44 billion in April as against $2.77 billion in the same month last year, government data showed on Wednesday. Total FDI, including equity, re-invested earnings and capital, rose 38 per cent to $6.24 billion in April this year, as against $4.53 billion in April 2020, as per the data. "During April, 2021 FDI equity inflows amounting to $4.44 billion were reported in the country which is an increase of 60 per cent over the FDI equity inflow of April, 2020 ($2.77 billion)," the commerce and industry ministry said in a statement.
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