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.
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.
The plan is to establish a consultative panel and appoint mediators to address various domestic issues, both at the central government and state levels.
'Every decision India makes along the LoC, it must also consider implications along the LAC.'
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 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.
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 GAAR provision will apply to entities availing tax benefit of at least Rs 3 crore.
Anmol Singh Jaggi and Puneet Singh Jaggi, once hailed as rising stars in India's clean energy sector, are now facing serious regulatory action.
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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.
The Enforcement Directorate on Saturday said it has searched the Bengaluru-located office and residential premises of Edtech major BYJU's and its CEO and co-founder Raveendran Byju and seized 'incriminating' documents and digital data as part of a foreign exchange violation probe.
Foreign investors turned net sellers in October, withdrawing shares worth Rs 58,711 crore in the month so far owing to escalating conflict between Israel and Iran, a sharp rise in crude oil prices, and the strong performance of the Chinese market. The outflow came following a nine-month high investment 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.
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.
The income tax department has notified rules for valuation of equity and compulsorily convertible preferable shares issued by startups to resident and non-resident investors. As per the changes in Rule 11UA of I-T rules, which comes into effect from September 25, the Central Board of Direct Taxes (CBDT) provides that the valuation of compulsorily convertible preference shares (CCPS) can also be based on the fair market value of unquoted equity shares. The amended rules also retain the five new valuation methods proposed in the draft rules for consideration received from the non-residents viz., (i) Comparable Company Multiple Method, (ii) Probability Weighted Expected Return Method, (iii) Option Pricing Method, (iv) Milestone Analysis Method, and (v) Replacement Cost Method.
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 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.
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.
The outbound FDI is also expected to increase, resulting in net FDI inflow of $24 billion.
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.
India's current account deficit declined sharply to 1 per cent of the GDP or $8.3 billion in the second quarter of this financial year, mainly due to lower merchandise trade deficit and growth in services exports, according to a RBI data released on Tuesday. The current account deficit (CAD), which represents the difference between the total amount of money sent abroad and money received from overseas across the economy, was 3.8 per cent of GDP or $30.9 billion in the July-September quarter in 2022-23. CAD was $9.2 billion or 1.1 per cent of GDP in the first quarter (April-June) of the current financial year 2023-24.
Foreign Direct Investment Confidence Index is a regular survey of global executives conducted by AT Kearney, a global management consulting firm.
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.
With India's EV penetration at just 2.5 per cent, the market presents an opportunity -- provided Tesla gets its pricing right.
China supplied more than $20 billion worth of arms to Pakistan. These include 20 J-10CE and JF-17 Block III fighter aircraft, Wing Loong drones, frigates, submarines, Hongqi HQ-9P surface-to-air missiles, 240 PL-15E air-to-air missiles, LY-80 air defence systems, ZDK early warning aircraft and other weapons.
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.
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.
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.
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.
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.'
ONGC's overseas arm applied for a sanctions waiver to access $500 million dividend from two Venezuelan projects.
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.
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'.
'India enjoys conventional superiority, but nuclear deterrence imposes clear boundaries.'
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.
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.
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.
