The show-cause notice dated February 8 by DCGI V G Somani cited a Delhi high court order dated December 12, 2018, which prohibits online sales of medicines without a licence.
In a dramatic turn of events in May 2019, an Emirates aircraft en-route to Dubai was asked to stop while it was taxiing for a take off in Mumbai. The pilot was given no reason and ordered to immediately return to the parking bay. As the aircraft returned to the terminal, two passengers from the first class - Naresh Goyal and his wife Anita - were offloaded by the immigration authorities, who said the duo cannot leave the country. Goyal, founder of Jet Airways, was stunned. The man, who ruled the aviation sector for two and a half decades with an iron hand, did not expect to be offloaded in this fashion.
The flow of foreign direct investment into China, dubbed as the world's factory, continued its slight decline in the first eight months this year.
The Bharatiya Janata Party on Tuesday said it is against rushing through the Foreign Direct Investment-related Foreign Exchange Management Act notification in Parliament along with the main debate on the issue.
It's pointless and stupid to allow foreign direct investment in retail and investment, says Jayati Ghosh.
Civil Aviation Minister Ajit Singh has said that India is a land of emerging opportunities and the aviation scenario in the country is fast changing and poised for breaking boundaries and scaling new heights.
In its latest lobbying disclosure report filed with the US Senate and the House of Representatives for the quarter ended March 31, 2013, the various lobbying issues of Walmart during the period included 'discussions related to FDI (Foreign Direct Investment) in India'.
India's economy is capable of absorbing $50 billion in foreign direct investment per year, feels FM.
Exuding confidence that current account deficit (CAD) will come down to 3.7 per cent of GDP in 2012-13, Finance Minister P Chidambaram on Monday said overseas capital flows would be sufficient to bridge the gap in inflow and outflow of foreign funds.
USTR has said India imposed several barriers in major services industries such as insurance, banking, audiovisual, accounting, legal, telecommunications, distribution services, postal and express delivery services.
US-based Walmart and UK-based Tesco have sought clarifications from the Department of Industrial Policy and Promotion on whether they could set up warehouses in states which are against the Centre's retail FDI policy.
These companies struck joint ventures with foreign partners before the government relaxed FDI sectoral limits by issuing Press Notes 2 and 4 in February this year, and had approached FIPB for approvals later. FIPB sent a note to this effect to the RBI a month ago, advising the central bank to deal with such cases.
"You can't please all people. And the finance minister has done as good a job as was possible," said Prime Minister Manmohan Singh in an interview with T N Ninan, editorial director and chairman of Business Standard Ltd, on Monday after Finance Minister Pranab Mukherjee announced the Budget proposals in Parliament.
"You can't please all people. And the finance minister has done as good a job as was possible," said Prime Minister Manmohan Singh in an interview with T N Ninan, editorial director and chairman of Business Standard Ltd, on Monday after Finance Minister Pranab Mukherjee announced the Budget proposals in Parliament.
She wondered whether reforms meant pointing guns at farmers and that there would be no shopkeepers in the localities.
The relaxation will apply to those sectors that have composite caps (foreign direct investment or FDI plus FII). "The move will not impact sectors like banking and insurance which are governed by Acts of Parliament. However, sectors with composite caps which see administrative control like telecommunication services, broadcast services like direct-to-home and FM radio will benefit," a Delhi based FDI policy expert told Business Standard.
Jaitley evaded vital questions on this issue.
The government on Wednesday announced the approval of Japan-based Daiichi Sankyo's proposed acquisition of shares in domestic pharma major Ranbaxy, along with 23 other proposals for a total FDI investment of Rs 753.14 crore
There will be a lot to repair and rejuvenate -- if that opportunity even presents itself, warns Rathin Roy.
China's actual use of foreign direct investment is expected to rise 11 per cent to about $100 billion this year and China's outbound investments on the international market are expected to exceed $50 billion, China's minister of Commerce Chen Deming has said.
Govt moves to bring in more clarity on definition of 'control'.
This prompted some reshoring -- the process of returning jobs and manufacturing to the company's home country -- of manufacturing activity, Shen said while insisting this will not become a general trend, state-run China Daily reported.
Within five days of the budget, the RBI brought in housing loans below Rs 50 lakh under priority sector lending.
Continuing its offensive on the United Progressive Alliance over its failure to curb the rising prices of essential commodities, the Communist Party of India-Marxist on Monday said it will stall the passage of the Forward Contract Regulation Amendment Bill, which will enable foreign direct investment and foreign institutional investment in the commodities market, in Parliament.
Power Minister Jyotiraditya Scindia on Monday made a high pitch for American investments in India's power sector.
General sentiment that slowdown and dip in investor sentiment won't affect rationale for expansion
Towards the close of 2013, the finance ministry approved the proposal of UK-based Tesco to invest $110 million in opening up of multi-brand retail stores in the country in partnership with Tata Group firm Trent.
India on Friday moved closer to a major economic reform, with a committee of secretaries (CoS) giving an approval in principle for allowing up to 51 per cent foreign direct investment in multi-brand retail.
In the aviation sector, 100 per cent FDI is allowed under automatic route for MRO (maintenance, repair, overhaul), ground handling, and aircraft purchase.
Changes in the multi-brand policy unlikely to help the entire retail sector.
China will establish a ministerial panel to review foreign firms' attempts to buy or merge with domestic companies.
The CBI, in its letter, said the matter was 'analysed' by the agency and it 'revealed violations of RBI guidelines and FEMA regulations'.
On the retail FDI issue, a possibility being talked about in the corridors of power is the Congress might withdraw its support to AAP in Delhi.
India needs significantly more domestic wherewithal to achieve and sustain the stated objective of 7-9 per cent growth.
Opposition Bharatiya Janata Party and Left parties on Tuesday demanded separate debates with voting on Foreign Direct Investment in retail and related amendments in Foreign Exchange Management Act rules in Lok Sabha, but it was vociferously opposed by the government and rejected by Speaker Meira Kumar.
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