The approval comes few days before the company has to clear statutory liabilities of up to nearly Rs 35,586 crore, of which Rs 21,682 crore is licence fee and another Rs 13,904.01 crore is spectrum dues.
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.
India recorded a current account surplus of $5.7 billion or 0.6 per cent of GDP in the March quarter, the Reserve Bank of India said on Monday. This is the first time in ten quarters that the crucial metric of the country's external strength has turned into surplus mode. In the year-ago period, the current account deficit stood at $1.3 billion or 0.2 per cent of GDP, and the same was $8.7 billion or 1 per cent of GDP in the preceding quarter ending December 2023.
Domestic chains rejoice at Cabinet's in-principle nod to 51% cap, most of them call it a positive development.
India and the US will sit together in the next couple of weeks to decide on the nature of the proposed trade agreement and finalise its broad contours, a senior official said on Monday. During the recent visit of Prime Minister Narendra Modi to Washington, India and the US announced to more than double the two-way commerce to $500 billion by 2030 and negotiate the first tranche of a mutually beneficial, multi-sector bilateral trade agreement (BTA) by fall of 2025.
From the Sensex firms, Bajaj Finance, Infosys, Hindustan Unilever, ICICI Bank, HCL Tech, UltraTech Cement, Bajaj Finserv, State Bank of India, Tata Consultancy Services, Reliance Industries, Axis Bank and Larsen & Toubro were among the major gainers. However, Trent, Tata Steel, Tech Mahindra and Maruti were among the laggards.
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.
India and the US have decided to hold sector-specific talks in the coming weeks to finalise the structure of the proposed bilateral trade agreement (BTA), the government said on Saturday. The engagement between the two countries came in the backdrop of the USA's threat to impose reciprocal tariffs on its key trading partners, including India, on April 2.
The crisis may not be as visible this time, but the stakes are just as high, points out Rajeswari Sengupta.
Weeks before the Pahalgam attack, Munir said Pakistan will not forget the issue of Kashmir, asserting, "It was our jugular vein." His comments were trashed by India.
India will become the third largest economy by 2027-28, with a GDP of over $5 trillion, Finance Minister Nirmala Sitharaman said on Wednesday. Even going by conservative estimates, the size of the Indian economy will be $30 trillion by 2047, she noted. "It is possible that we will be the third largest economy by 2027-28, and our GDP will cross $5 trillion by that time. By 2047, it is a conservative estimate that we will reach at least $30 trillion in terms of economy," Sitharaman said at the Vibrant Gujarat summit.
'One Chinese interlocutor said India should realise that "China can do without India, but India could not do without China", pointing to its inability to do without Chinese intermediates and components,' former foreign secretary Shyam Saran discovers on a visit to China.
Among the 30 Sensex firms, HCL Technologies, NTPC, Bajaj Finserv, Tech Mahindra, JSW Steel, Titan, Mahindra & Mahindra, Tata Steel, Larsen & Toubro and Tata Consultancy Services were the biggest gainers. Kotak Mahindra Bank, IndusInd Bank, Maruti and Hindustan Unilever were among the laggards.
India and China have announced a series of measures aimed at improving their relationship, including maintaining peace along the border, reopening border trade, and resuming direct flights.
Former Army chief Gen M M Naravane (retd) said India-China ties are "on the mend" with initiatives announced at political, diplomatic and military levels. He expressed hope that China will reciprocate India's goodwill as they move forward in discussing the boundary question.
The approval will, however, be subject to the regular conditions on valuation and pricing norms laid down by the Reserve Bank of India.
French energy giant TotalEnergies SE on Monday said it will make no new financial contribution as part of its investments in Adani group companies till the Indian firm's founder is cleared of bribery charges. The energy giant said it was not aware of the investigation into the alleged corruption. TotalEnergies is one of the biggest foreign investors in billionaire Gautam Adani's business empire and had previously taken stakes in the group's renewable energy venture Adani Green Energy Ltd (AEGL) and city gas unit Adani Total Gas Ltd (ATGL).
Mamata Banerjee, who had pulled out of UPA-II over FDI in retail, among other issues, would dedicate mall to people of Kolkata.
The Cabinet meeting and the holy dip comes on a day that marks the first anniversary of the consecration ceremony of the Ram temple in Ayodhya.
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.
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 interplay between domestic and foreign capital will shape India's equity markets.
The exports in 2022-2023 was $79 billion, compared to imports of $50 billion.
The organised market is likely to grow to Rs 4.8 trillion by 2016-17.
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.
Net inflows were $18.4 billion for the rolling 12-month period ended January 2024 compared to $32.7 billion for the rolling 12-month period ended January 2023.
Investments from the Gulf Cooperation Council (GCC) countries to India remain negligible relative to trade flows and represent just a small percentage of total FDI from the region to the world, says a report.
Showing the effect of the slowdown in global economic activity, the equity foreign direct investment (FDI) into India declined sharply to $13.9 billion in April-July 2023 from $22.04 billion a year ago. The net FDI, inflows minus outflows, declined from $17.28 billion in April-July 2022 to $5.70 billion in April-July 2023 on account of moderating gross FDI and a rise in repatriation. Gross FDI into India moderated to $22.0 billion during April-July 2023 from $29.6 billion a year ago, according to Reserve Bank of India data.
The world's third largest tobacco company by sales volume, Japan Tobacco Inc, has invested $65 million (Rs 293 crore) in its Indian unit without increasing its shareholding, just days ahead of a government decision to ban foreign direct investment in cigarette manufacturing.
While Commerce Minister Kamal Nath has set the target for FDI at $12 billion for 2006-07, outbound investment for January-September 2006 has touched $18.73 billion compared with $8.84 billion in the same period last year.
The sectors that received most of the investment during this period included manufacturing, financial services, business services, computer services, electricity, and other energy sectors.
The industry ministry and the finance ministry are holding consultations on whether to bring the banking sector under the purview of new FDI (foreign direct investment) rules, which will categorise some Indian banks -- like ICICI Bank -- as foreign banks.
UK's largest retailer Tesco, Singapore Airlines and Etihad queued up to invest in India as a persistent UPA threw open more sectors to foreign investments with indications of more big ticket deals to be announced in the new year.
'BSE has facilitated nearly Rs 35 trillion in capital raising across multiple segments.'
A group of ministers will soon meet in New Delhi to decide on allowing foreign entities to pick up stakes in the airline sector in India, Civil Aviation Minister Ajit Singh said on Wednesday.
Clarifying norms for single brand retail trading, government on Tuesday allowed foreign investors to conduct business through more than one joint venture in India.
Officina Farmaceutica Italiana mainly deals in large-scale contract manufacturing for cosmetics and drug majors
