China's foreign trade in 2004 is expected to reach an all-time record $1.1 trillion, up 30 per cent from the previous year, making the nation the third largest trade power in the world, minister of commerce Bo Xilai said.
To boost domestic manufacturing under the Make in India initiative and reduce dependency on imports, the government is expected to announce in the Budget an increase in the minimum local content requirement for public procurement, with certain sectors being granted exceptions. Currently, firms producing goods, services, or works with at least 50 per cent local content are classified as Class-I local suppliers and are preferred the most in government procurement.
Taiwan is keen to collaborate with India and help it become a leader in the semiconductor space, Jason Ho, chairman of the Taiwan Chamber of Commerce in India, said, asserting that the Taiwanese companies have the supply chain for things that the Indian market needs. Manufacturing semiconductors - used in electric and hybrid cars, drones, and communication devices - is fairly complicated, entails huge investment, and can be a cumbersome process.
Department of Telecom is considering to move a Cabinet note suggesting that telecom companies with no foreign direct investment should be allowed to have foreign chief executives.
Sectors which attracted maximum foreign inflows during April-June 2019-20 include services (USD 2.8 billion), computer software and hardware (USD 2.24 billion), telecommunications (USD 4.22 billion), and trading (USD 1.13 billion), the commerce and industry ministry data showed.
Investments in the country are set to leap-frog this year with top 300 companies lining up projects worth Rs 2,00,000 crore (Rs 2,000 billion).
India's hospitality sector is rolling out the red carpet for investors. A flurry of upcoming IPOs, or initial public offerings, the entry of new players, and ambitious expansion plans by Indian and global hotel brands are ushering in what could be the industry's most formalised era yet. Leading the charge are real estate titans, who are turning their hotel arms into global hospitality chains.
The new Foreign Trade Policy, to be unveiled on April 7, would focus mainly on attracting foreign direct investment and generating employment for the youth.
'As the global economy undergoes significant transformations in 2025, India's ability to navigate the complexities of trade wars, financial realignments, and emerging blocs will be pivotal,' explain Harsh V Pant and Soumya Bhowmik.
Pointedly blaming Congress general secretary Rahul Gandhi for the United Progressive Alliance's government's nod to Foreign Direct Investment in retail, Uttar Pradesh Chief Minister Mayawati made it clear on Saturday that she would oppose the move tooth and nail."The Bahujan Samaj Party will launch a strong movement against the policy in case the UPA government manages to get the approval of Parliament," she declared.
India Inc's investments abroad in April-June 2015 have once again risen to $1.3 billion.
"It is shocking to note that Turkey, the second-largest arms supplier to Pakistan after China, has played a key role in modernising Pakistan's navy and enhancing its aerial warfare capabilities. "This defence collaboration is not just commercial; it is ideological, targeting the stability of South Asia and emboldening Pakistan's military adventurism," SJM national co-convenor Ashwini Mahajan said in a statement.
The finance ministry is seeking to speed up deals with outside investors.
In its comment on the industry department's discussion paper on foreign direct investment in multi-brand retail, the joint venture between Bharti Enterprises and Walmart, said though 100 per cent FDI should be allowed in the sector, it would endorse a calibrated opening.
DoT sent the final Cabinet note to various ministries on Monday. The telecom companies have to comply with the FDI guidelines by January 2.
A day after lambasting e-commerce players for predatory pricing, Union Commerce Minister Piyush Goyal on Thursday said he is not against online platforms but India wants such entities to be "fair and honest" in their conduct. Speaking with reporters in the financial capital, the outspoken Union minister said the rule of the law should be followed in letter and spirit, and made it clear that consumer preferences should not be influenced by algorithms.
India's outward foreign direct investment (OFDI) nearly halved to $3.39 billion in April on an annual basis, as per data released by the RBI on Monday. The OFDI stood at $6.71 billion in April 2021. On sequential basis too, the outward investment from India in April was lower compared to $3.44 billion in March 2022.
The lawmakers also hailed the strong strategic partnership between India and the US during a meeting with an all-party delegation led by Congress MP Shashi Tharoor, who briefed them on the cross-border terrorism faced by India and the country's strong and resolute stance in the fight against terror.
'Binary fission will happen -- startups will lead to more startups.'
The drop was the result of the change in FDI rules, which was amplified by the border standoff between India and China.
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.
After a prolonged winter, the Indian edtech sector seems to be witnessing some signs of a thaw. The sector has received $608.8 million of funding across 68 deals in 2024 so far - 153 per cent more than the $240.9 million across 106 deals during the same period last year - according to data from market intelligence platform Tracxn.
The USIBC -- a body that represents the views of Corporate America -- hailed India's steady progress in advancing major economic reforms in a statement following Cabinet approval for opening up India's vast multi-brand retail sector to foreign direct investment and removing the FDI cap in single-brand retail.
Under the amended treaty with Mauritius, for two years beginning April 1, 2017, capital gains tax will be imposed at 50 per cent of the prevailing domestic rate.
This is the largest foreign direct investment proposal in the state and represents a five-fold increase from an earlier announcement by GFH for a $2 billion to $2.5 billion investment in an "energy city".
Bangladesh has demanded a public apology and compensation from Pakistan for the 1971 atrocities, raising "historically unresolved issues" during the first foreign secretary-level talks between the two countries in 15 years. Dhaka also asked Islamabad to pay USD 4.3 billion as its share from the combined assets at the time of East Pakistan's split from West Pakistan in 1971 to form an independent Bangladesh.
'We continue to view India as a standout within EM.'
'Most tax notices arise not from wrongdoing, but from unintentional mismatch or ignorance.'
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 Trump administration has revoked Harvard University's eligibility to enrol foreign students, raising concerns over the legal status of thousands of students, including nearly 800 from India, currently enrolled at the varsity.
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.
Indian growth in the rest of this fiscal year and next will be propelled by robust domestic consumption as consumer confidence improves, and by investment, including large increases in government capital expenditure, according to the Asian Development Outlook September 2023. "As slowing exports could foment headwinds for the economy, and erratic rainfall patterns are likely to undermine agricultural output, the growth forecast for FY2023 is revised down marginally to 6.3 per cent," ADB said.
The government has amended rules of the Foreign Exchange Management Act (FEMA), paving the way for up to 20 per cent foreign direct investment in the insurance behemoth LIC. The government is planning to dilute its stake in LIC through the the Initial Public Offering (IPO). LIC in February had filed the Draft Red Herring Prospectus (DRHP) before the markets regulator Sebi for the IPO.
