The ministry on Sunday decided to allow foreign individuals and pension funds, as well as other entities, to invest directly in equity markets.
The central government is on track to meet its fiscal deficit target of 6.4 per cent of the GDP for 2022-23 on the back of strong growth in revenue collections, the World Bank said in its India Development Update on Tuesday. High nominal GDP growth in the first quarter supported strong growth in revenue collection, especially Goods and Services Tax (GST), despite tax cuts on fuel. Notwithstanding an increase in spending due to expanded fertilizer subsidies and food subsidies for vulnerable households in response to the commodity price shock, the government is on track to meet its FY22/23 fiscal deficit target of 6.4 per cent of GDP and the general government deficit is projected to decline to 9.6 per cent from 10.3 per cent in FY21/22 and 13.3 per cent in FY20/21.
A potential risk to the rupee's appreciation trajectory lies in the event of a delay in the Federal Reserve's rate cut cycle, particularly if core inflation in the US remains elevated.
Trumponomics, poor growth, and high valuation certainly don't make a bullish recipe for Indian markets, warns Debashis Basu.
Equity supply may hit Rs 6 trillion soon.
On the face of it, the country attracted FDI worth $22.52 billion between January and September, 2011 against $15.97 billion in the same period last year.
Telecom operator Bharti Airtel Chairman Sunil Mittal on Wednesday said the telecom sector reforms approved by the Cabinet will ensure that the industry is able to invest fearlessly, and the company will respond to Prime Minister Narendra Modi's call to invest and accelerate the country's growth. Among a series of breathers for the stressed telecom sector, the Cabinet has approved the inclusion of revenues earned only from telecom services in the adjusted gross revenue (AGR), and the removal of penalty on dues to be paid to the government prospectively. Mittal congratulated and thanked the government for undertaking these seminal reforms to lift an industry that is at the core of his Digital India vision.
Foreign investors have bought around $2.4 billion in both debt and equity so far in October, pushing the total inflows to nearly $36 billion so far in the year.
The US, which has high stakes in gaining entry into the huge Indian retail market, is actively pursuing opening up of the sector to FDI.
The proposals were considered by the Foreign Investment Promotion Board at its meeting held on July 4.
The move comes in the backdrop of a slowdown in the foreign direct investments and its impact on the current account deficit.
Limits and high taxes on FDIs have led to lesser investments in the Indian aviation sector.
Mauritius-based IndusInd International Holdings and other Hinduja group entities are expected to make payments worth Rs 9,661 crore for the acquisition of bankrupt Reliance Capital (RCap) only after getting all the legal and regulatory clearances, including from the Supreme Court, thus delaying the closure of the transaction. A source close to the development said that according to the National Company Law Tribunal (NCLT) order dated February 27, the payment for the acquisition was to be made within 90 days from the NCLT's approval of the resolution plan and after receiving all legal and regulatory clearances.
Should we not be creating roles in India for the talented, asks Ajit Balakrishnan.
India received less foreign direct investment in 2010 than the previous year, courtesy a modest recovery in the global economy which reduced the risk and expansion appetite of corporates across the world.
Amid a debate within the government on allowing foreign direct investment in multi-brand retail, the nodal consumer affairs ministry is insisting on a foreign direct investment cap of 49 per cent in the sensitive sector, sources said.
Foreign Direct Investment flows to India in 2021 were 26 per cent lower, mainly because large M&A deals recorded in 2020 were not repeated, the UN trade body has said.
Team Anna member Arvind Kejriwal alleged on Monday that the Union government's decision to allow foreign direct investment in the retail sector is linked to corruption.
With the Indian Government mulling over whether to allow foreign direct investment in multi-brand retail sector, here is a look at world's top 10 retail giants.
Quarterly earnings from corporates, global trends, and trading activity of foreign investors will guide market sentiment this week, analysts said, adding that benchmark indices may face volatile trends. "The upcoming release of Q2 results will be closely watched, providing insights into corporate performance. "Meanwhile, the escalating tensions between Israel and Iran introduce a significant geopolitical risk, potentially leading to increased oil prices and market volatility.
WalMart International President and CEO Doug McMillon said in Davios that the Indian government's concerns over allowing foreign direct investment in multi-brand retail were misplaced.
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.
The government has exempted units of investment trusts and ETFs issued by entities based in GIFT City or traded in exchanges there from capital gains tax. The Central Board of Direct Taxes (CBDT) notified the exemption from capital gains tax any unit of investment trust; a unit of a scheme; and a unit of an Exchange Traded Fund (ETF) launched under the International Financial Services Centres Authority (Fund Management) Regulations, 2022. Gujarat International Finance Tec-City (GIFT)-IFSC is being promoted as a tax-neutral enclave for the financial sector.
Capital dumping is being used by foreign e-commerce firms to subsidise and engage in predatory pricing, oil-to-telecom conglomerate Reliance Industries (RIL) has told the Associated Chambers of Commerce and Industry of India (Assocham) in an internal document. The document alleges that this is leading to massive unemployment and financial distress among small merchants and kirana stores. It consists of various recommendations and proposed changes that deal with Press Note 2 of 2018 (PN 2), which RIL wanted Assocham to present to the government, according to sources.
Total foreign direct investment (FDI) inflow to India declined to $74.01 billion in the calendar year 2021, which is 15 per cent lower from $87.55 billion recorded in the previous year, the ministry of commerce & industry said on Wednesday. The FDI inflow includes equity inflow, equity capital of unincorporated bodies, re-invested earnings and other capital. "FDI is largely a matter of commercial business decisions and FDI inflow depends on a host of factors such as availability of natural resource, market size, infrastructure, political and general investment climate as well as macro-economic stability and investment decision of foreign investors.
In February, 2010, India attracted foreign direct investment (FDI) worth $1.7 billion. During the 11-month period from April, 2010, to February, 2011, FDI inflows into India declined by 25 per cent to $18.3 billion, which makes it imperative for the country to fine-tune its policies to attract overseas investment.
China has defended its plan to build the world's largest dam on the Brahmaputra River in Tibet, assuring that the project will not affect riparian states and safety issues have been addressed through decades of studies. The dam, estimated to cost USD 137 billion, has raised concerns in India and Bangladesh, but Chinese authorities maintain that the project has been thoroughly studied and safeguards are in place. The dam is part of China's efforts to develop clean energy and respond to climate change.
Foreign direct investment into the country is expected to rebound in the coming months on account of India's high economic growth, and steps to further improve the business environment of India, the Economic Survey said on Tuesday. The rise in global uncertainty in the wake of the Russia-Ukraine conflict, FDI equity inflows in the manufacturing sector in the first half of the current fiscal (April-September) fell below its corresponding level in the first half of 2021-22, the document, which was tabled in Parliament, said. The monetary tightening at the global level has further restricted the FDI equity inflows, the survey said.
The Union Cabinet has approved amendments to the General Insurance Business (Nationalisation) Act, paving the way for privatisation of government-owned insurers. The amendments, approved by Cabinet, will remove the clause for the Centre to hold at least 51 per cent in public sector insurance companies at any given time. It will also have an enabling provision for the transfer of management control from the government to the potential buyer of the public sector insurance company. The finance ministry will move amendments to the insurance Act in the ongoing Parliament session.
One of the papers could be on liberalising the foreign direct investment regime in the retail sector.
Maharashtra received the lion's share of the foreign direct investment inflows into India during April-August this fiscal, according to industry ministry's latest data.
Jaitley was replying to a debate in the Lok Sabha on Supplementary Demands for Grants for an additional expenditure of over Rs 12,500 crore (Rs 125 billion).
Swedish furnishing major IKEA, part of the Ingka Group, is inviting its investment arm - Ingka Investments - to India, a senior company executive said during an interaction in New Delhi. The move suggests that the group is looking at India as a priority market. The areas of investments being considered by Ingka Investments could range from taking stake in companies across sectors such as renewables, recycling, real estate, and software which synergise with IKEA's broader retail requirements.
'He will be remembered more for what he did as finance minister -- as someone who functioned well when the political fallout was taken care of.'
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Government seeks stakeholders' comments by Jan 30 on discussion paper.
'A dynamic bond fund acts like a gilt fund in a rate cut scenario and like a conservative short-term bond fund when rates rise.'
Foreign direct investment to India is zooming. FDI inflows to the country during 2006-07 surged to a record $16 billion, according to the annual supplement of the Foreign Trade Policy unveiled on Thursday.
In 2008, the textiles industry had attracted FDI worth Rs 869.6 crore (Rs 8.69 billion).
Foreign institutional investors are likely to be debarred from taking part in initial public offerings of stock exchanges, while foreign direct investment may be permitted even in pre-IPO stage.
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