The Union Cabinet on Wednesday gave its nod for amendments in the Insurance Act, paving way for 74 per cent foreign direct investment in the sector. Currently, the permissible FDI limit in the life and general insurance stands at 49 per cent with ownership and management control with Indian. According to sources, the Cabinet in its meeting has approval for amendments in the Insurance Act, 1938.
'India needs many more job creators, both in manufacturing and services, to make it big.' 'For that, the red carpet must be rolled out fully and for all investors without holding back,' suggests Nivedita Mookerji.
The Group of Ministers on Foreign Direct Investment has recommended that the proposal to allow 100 per cent foreign direct investment in scientific magazines and journals be placed before the Cabinet, Rajya Sabha was informed on Monday.
There has been a decent growth in FDI proposals and new announcements in India to attract foreign investment.
The plan is to establish a consultative panel and appoint mediators to address various domestic issues, both at the central government and state levels.
'The problem is that the bubble may not only be in valuations, but also in investors' minds.'
'The bull market cycle ran for five years. It's the end of that cycle.' 'The next cycle is a down cycle, and in that down cycle, you will see the Sensex falling from their highs of around 68,000 to maybe 40,000-50,000 at the bottom of the cycle.'
In August 2011, the country had received foreign investment worth $2.83 billion.
The United Progressive Alliance government had opened the multi-brand retail sector for foreign investment and allowed up to 51 per cent foreign direct investment in the sector.
Foreign investment declined by 6.8 per cent year-on-year to $8.43 billion in September, ministry spokesman Shen Danyang told the media in Beijing.
The GAAR provision will apply to entities availing tax benefit of at least Rs 3 crore.
The Reserve Bank said overseas investors, including FPIs and NRIs, can invest up to 26 per cent in insurance and allied activities through the automatic route.
'If they aim to remain aligned with the public sentiment, as any democratic government should, then they must respond. Why else would the prime minister have cut short his visit to Saudi Arabia? And why would he have instructed the home minister himself to travel to Srinagar to assess the situation firsthand? This suggests that something is indeed being planned. I am quite certain of that, although the exact form it will take remains to be seen.'
The FDI in pension sector would move in tandem with the insurance sector, official sources said, adding that the revised norms would be incorporated in the Pension Fund Regulatory Authority Bill expected to be introduced in Parliament during the upcoming Budget session.
The much-talked-about sale of Ambuja Cement and ACC by Holcim Group will see the single-biggest outflow of foreign capital from the country if the two cement firms are acquired by Indian investors. The deal, valued at nearly $10.35 billion, will put in the shade Cairn Energy Plc's exit from India in 2010, when it sold Cairn India to Vedanta Group for $4.48 billion. According to various reports, big business groups such as AV Birla, JSW Group, and Adani Group are in the fray to acquire Holcim's assets in India.
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The company, which sells luxury products, including brands like Cartier, Piaget, Panerai and Montblanc, has also sought few clarifications from the government on conditions for selling sub-brands from the same stores, according to sources.
An overview of how the tournament could give it a welcome boost...
Recently, the government relaxed foreign direct investment (FDI) norms for the space sector by allowing 100 per cent FDI in manufacture of components, systems or sub-systems for satellites, ground segments, and user segments. It also permitted 74 per cent FDI in satellite manufacturing and operation as well as satellite data products and 49 per cent in development of launch vehicles and spaceports. Following this, stocks of related companies saw an uptick on the bourses.
He said the policy paralysis, which had gripped the country in recent months, was over, and India was back in business.
The Bharatiya Janata Party on Thursday sprung a surprise for the UPA-II and more so for Prime Minister Dr Manmohan Singh, who is championing the cause of Foreign Direct Investment, when it released a letter dated December 21, 2002, in which the prime minister had opposed FDI.
Trump's sweeping tariffs and penalties on China-built ships have turned global shipping into the front line of economic war, observes Shyam G Menon.
The outbound FDI is also expected to increase, resulting in net FDI inflow of $24 billion.
Commerce and Industry Minister Piyush Goyal on Monday said the existing foreign trade policy (FTP) will be extended for six months till March 31 next year. The government had earlier extended the FTP 2015-20 until September 30 this year due to the Covid-19 crisis. The FTP provides guidelines for enhancing exports to push economic growth and create jobs.
About 281 cases have been taken up for investigation by the Directorate of Enforcement regarding suspected violations of foreign direct investment (FDI) norms all over the country during April 2019 to March this year, Parliament was informed on Wednesday. Necessary action as per provisions of Foreign Exchange Management Act, 1999 (FEMA) has been taken, which includes issuance of show cause notices, adjudication and imposition of penalty, Minister of State for Commerce and Industry Som Parkash said in a written reply to the Lok Sabha. In these cases, following the due process of adjudication, penalties of more than Rs 2,600 crore have been imposed under the FEMA, he said, adding the Reserve Bank of India (RBI) has done compounding of contraventions of FDI related FEMA provisions in total of 1,421 cases across the country during the last three years.
The Reserve Bank on Thursday eased foreign direct investment (FDI) norms and allowed banks to provide guarantees on behalf of NRIs to acquire shares and debentures in Indian companies.
The Commerce Ministry earlier this week commissioned a study to assess the impact of free trade agreement with South Korea, with which India had a trade deficit of about $9 billion in 2012-13.
Sources say the Mark Zuckerberg-led company wants to ensure there are no issues in its investment in the subsidiary of Reliance Industries and has roped in one of the Big Four consultancy firms to advise it on how the new "beneficial ownership" norms would apply to the proposed investment in Jio.
Foreign Direct Investment Confidence Index is a regular survey of global executives conducted by AT Kearney, a global management consulting firm.
The ministry of home affairs has received more than 20 proposals for foreign direct investment (FDI), including from China and Hong Kong, requiring security clearance between April and May. 'We are vetting some of these proposals which have come from various sectors. One of the applications is from a well known start-up,' an official said. 'We await inputs from Research and Analysis Wing, intelligence agencies, external affairs ministry, and embassies.'
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.
According to Indian Staffing Federation, an apex body of the flexi staffing industry in India, foreign direct investment in retail can create around 4 million direct jobs and almost 5 to 6 million indirect jobs, including contractual employment within a span of 10 years.
Terming the prime minister's address to the nation on September 21 as "most laughable", Shiv Sena chief Bal Thackeray said Manmohan Singh has "shamelessly" defended Foreign Direct Investment (FDI) in retail and rise in diesel prices.
Debt mutual fund (MF) schemes are set to register the best calendar year (CY) performance in the last four years despite no changes in the interest rate. An analysis of one-year performance of debt funds show that many of the schemes are set to deliver double-digit returns in CY 2024.
This is despite the fact that total FDI into India has fallen by 22 per cent from $58 billion in FY22 to $46 billion in FY23, according to the Reserve Bank of India.
Commerce and Industry Minister Anand Sharma has written to chief ministers of Odisha, Punjab and Uttar Pradesh, stating opening the multi-brand sector to the foreign direct investment would 'bring in investments, technologies and efficiencies to unlock the true potential of the agricultural value chain'.
The United States has welcomed the decision of the Parliament to allow Foreign Direct Investment in multi-brand retail, noting that this is a win-win for all from small businesses to farmers and consumers as well; besides deepening economic co-operation between the two countries.
Foreign Direct Investment (FDI) in the United States exceeding $1.7 trillion in the last one decade has created more than five million jobs in the US.
The private sector's new project announcements in the quarter ending March were among the highest on record. The value of new private sector project announcements for the three months ending March 2024 was Rs 9.8 trillion, shows data from tracker Centre for Monitoring Indian Economy (CMIE). This is the second-highest on record in data going back to 2009.
Kohler made the comments on aviation industry-wide speculation about New Delhi increasing FDI in defence sector to 49 per cent from the current 26 per cent, with some expecting an announcement in the near future.
Now SEBI registered Mutual Funds would be allowed to accept subscriptions from foreign investors who meet the Know Your Client (KYC) requirements for equity schemes.
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