The FIPB rejected two proposals -- Nigeria's Mokeme Chiwetal Izuchukwu and Lanarth Developers Pvt Ltd.
P-notes are issued by registered Foreign Portfolio Investors (FPIs) to overseas investors who wish to be a part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process. According to Securities and Exchange Board of India (Sebi) data, the value of P-note investments in Indian markets -- equity, debt, and hybrid securities -- stood at Rs 90,580 crore at April-end, compared to Rs 87,979 crore in March.
The Bilateral Aviation Safety Agreement, the civil nuclear technology transfer, telecom infrastructure security and business jet landing rights are among other "policy accomplishments in 2011" listed on the US chamber's website.
'The move to remove indexation benefits on LTCGs presently available for property, gold, and other unlisted assets may have a negative impact as it directly impacts real estate investors.'
India appears poised to sustain its growth in a more durable way than before with the economy carrying the momentum from FY23 into the current fiscal year, the Annual Economic Review for 2022-23 released by the finance ministry on Thursday said. However, the report cautioned that escalation of geopolitical stress, enhanced volatility in global financial systems, sharp price correction in global stock markets, a high magnitude of El-Nino impact, and modest trade activity and FDI inflows, are factors that could constrain the pace of growth. "Should these developments deepen and dampen growth in the subsequent quarters, the external sector may challenge India's growth outlook for FY24," the finance ministry said.
The bench of Chief Justice N V Ramana and Justice Pradeep Nandrajog issued notices to the Centre, Foreign Investment Promotion Board and Commerce and Civil Aviation ministries and sought their responses by October 30.
China has approved the construction of the world's largest dam on the Brahmaputra River in Tibet, close to the Indian border. The USD 137 billion project, which is expected to dwarf even China's own Three Gorges Dam, has raised concerns in India and Bangladesh, the downstream riparian states. Concerns in India are centered around China's potential to control water flow, potentially enabling the release of large amounts of water to flood border areas in times of hostilities. The dam is part of China's 14th Five-Year Plan, and the Chinese government claims that the project is safe and prioritizes ecological protection.
In a consultation paper issued on Tuesday, the department of industrial policy and promotion sought comments on whether FDI should be restricted to LLPs operating in sectors without any investment caps, conditionalities or entry route restrictions.
The much-delayed Insurance Bill seeks to raise the foreign investment cap in the sector from 26 per cent to 49 per cent, with a rider that the management control rests in the hands of Indian promoter.
FDI equity inflows into the country during April-January 2020-21 grew by 28 per cent to $54.18 billion, according to the Commerce and Industry Ministry data released on Monday. Foreign direct investment (FDI) inflows during April-January 2019-20 stood at $42.34 billion. Total FDI (which includes reinvested earnings) during the 10-month period in FY21 increased by 15 per cent to $72.12 billion over the year-ago period.
At present, a project with investment of more than Rs 600 crore in sectors routed through the Foreign Investment Promotion Board has to be referred to the Cabinet Committee on Economic Affairs.
The sector attracted foreign investments to the tune of $1,252 million during the year, a 12.8 per cent decline compared to $1,437 million registered in the previous year, according to latest data released by the Department of Industrial Policy and Promotion (see table).
As part of it, the govt may permit 26% FDI in insurance broking through the automatic route.
According to sources, there is a proposal to allow 100 per cent Foreign Direct Investment in single brand retail sector "through automatic route" with certain conditions.
Foreign direct investment (FDI) in India's aviation sector is long overdue; the Cabinet should back Mr Singh's decision -- which was taken following a meeting with Finance Minister Pranab Mukherjee, Petroleum Minister Jaipal Reddy and Commerce Minister Anand Sharma.
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The Indian Consulate in Guangzhou has organised a face to face interaction with Chinese investors to make a case for them to step up investments in India, a press release from the Consulate said.
Since the Centre tightened the Press Note 3 norms in April last, as many as 150 private equity/venture capital investment applications from China and Hong Kong are pending with the government, starving the country's start-up ecosystem of funds, says a report. The Press Note 3 (PN3) changes were effected in April, restricting foreign direct investment from countries that share land borders with India. Analysts are of the view that the move was primarily aimed at China as lot of private funds were investing billions into domestic companies.
Congress-ruled Rajasthan and Delhi had said yes; 3 states which had okayed FDI have Assembly polls next year.
This FDI includes equity, re-invested earnings and other capital.
The S&P BSE Sensex shed 54 points to close at 26,813.
The government also increased the power of the FIPB.
The note recommends allowing FDI in domestic firms through the issue of partly-paid up shares and convertible warrants, but with certain riders.
Venture capital funds are one of the most effective ways of bringing out and nurturing the innate ability of our people.
Key sectors that received maximum FDI include services, computer software and hardware, telecommunications, trading, chemicals, and automobile.
The government on Thursday committed itself to continue financial sector reforms by easing foreign investment policy, recapitalising state-owned banks and establishing a regulator for the pension sector.
Foreign direct investments (FDI) into the country grew 19 per cent to $59.64 billion during 2020-21 on account of measures taken by the government on the fronts of policy reforms, investment facilitation and ease of doing business, the commerce and industry ministry said on Monday. Total FDI, including equity, re-invested earnings and capital, rose 10 per cent to the "highest ever" of $81.72 billion during 2020-21 as against $74.39 billion in 2019-20. "FDI equity inflow grew by 19 per cent in 2020-21 ($59.64 billion), compared to 2019-20 ($49.98 billion)," the ministry said in a statement. In terms of top investor countries, Singapore is at the top with 29 per cent share.
India has a high and rising current account deficit rather than a surplus; fiscal deficits far exceed anything close to prudent; and the inflation numbers have exposed India as an embarrassing outlier among emerging market countries.
The government has cleared 19 foreign direct investment projects worth Rs 4,340 crore, including that of Tata Steel and Future Ventures.
Kingfisher is in discussion with various investors, including Etihad, for equity investments in the company, but matters are merely at negotiation stages, it said in a statement to the stock exchange.
Foreign Direct Investment (FDI) as a source of funding has shrunk to a trickle for the once lucrative telecom sector with foreign investment inflows plunging to $43 million in the April-September period of the current fiscal.
The country last raised the amount of government debt that foreign investors can buy by $5 billion in June last year.
The government is confident of meeting the fiscal deficit target of 5.9 per cent of gross domestic product (GDP) and the nominal GDP target of 10.5 per cent despite pressure in the initial months of FY24, Economic Affairs secretary Ajay Seth told Business Standard. Normally the initial months of any financial year see proportionally a higher fiscal deficit because the expenditure is evenly paced while revenue picks up in the later months, he said. "This year the proportional fiscal deficit so far is much closer to the target than in most other years.
FDI in drugs and pharmaceuticals was $487 million during April-August 2012, according to the latest data of the Department of Industrial Policy and Promotion.
The processing time for students applying under the Student Direct Stream (SDS) was significantly shorter and approval rates higher, something that will change after Canada ended the scheme on Friday.
The Commerce and Industry Ministry has circulated a draft Cabinet note for inter-ministerial consultations.
The sharp rally in the markets thus far in fiscal 2023-24 (FY24) has left analysts struggling to find investment-worthy themes. The S&P BSE Sensex has surged nearly 7 per cent thus far in FY24 and hit a fresh 52-week high of 63,601.71 levels on June 22, mostly led by foreign institutional (FII) flows. "The Indian market has seen a broad rally in the past few months but headline indices have seen more modest performance. "We are not very clear about the reasons for the rally and the divergent performance and struggle to find ideas in the consumption, investment and outsourcing sectors after the sharp run-up in several of our favored sectors and stocks in the past two months," wrote Sanjeev Prasad, co-head, Kotak Institutional Equities, in a recent co-authored note with Anindya Bhowmik and Sunita Baldawa.
Making a strong pitch for foreign direct investment in retail, Congress general secretary Rahul Gandhi on Sunday said Bharatiya Janata Party, when in power, had sought to bring in foreign investment without adequate safeguards while UPA has taken strong measures to protect the interest of farmers.
Annual direct investment by developing countries into other rising economies has grown faster than that by developed countries in the past 15 years, the UN Conference on Trade and Development has reported.
