The group, headed by former RBI deputy governor H R Khan, has also pitched for liberalised investment cap, review of prohibited sectors for foreign investment for FPIs, permitting FPIs for off-market transactions and review of restriction on sovereign wealth funds for investment in corporate debt securities.
The Foreign Investment Promotion Board headed by Economic Affairs Secretary Arvind Mayaram, also cleared the proposal of Decathlon Sports India's proposal for induction of foreign equity worth Rs 700 crore (Rs 7 billion) to engage in single brand retail.
The Government on Thursday approved 48 foreign direct investment proposals aggregating Rs 793.90 crore (Rs 7.94 billion), including Reliance Energy's Rs 450 crore
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.
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Promoter Vodafone plans to infuse up to Rs 3,375 crore into debt-ridden Vodafone Idea Ltd as part of the company's proposed raising of funds worth Rs 14,200 crore. Besides Vodafone, Aditya Birla Group plans to pump in up to Rs 1,125 crore, according to a regulatory filing on Friday. The telecom operator will seek shareholders' approval for raising up to Rs 14,500 crore as well as increase its authorised share capital to Rs 75,000 crore at its the Extraordinary General Meeting (EGM) to be held on March 26.
Besides doubts relating to round tripping of investments through Mauritius, the proposal was earlier rejected on the ground that there were no details about the offshore entity.
A bench of Chief Justice N V Ramana and Justice Manmohan issued notice to Civil Aviation Ministry, DGCA and others and sought their response by October 30.
BJP leader Subramanian Swamy on Friday moved the Delhi High Court seeking an order restraining the Centre from granting any approval to AirAsia for its operations in India.
The CBI had summoned Karti to appear before it on October 4.
The proposals, approved by Finance Minister P Chidambaram on the recommendation of Foreign Investment Promotion Board, also included the offer from cement manufacturer Lafarge India for merger of Lafarge India Holding Pvt Ltd with Lafarge India Pvt Ltd, according to the finance ministry. The Lafarge's proposal was cleared as per the order of Bombay high court, a finance ministry statement said.
FIPB has deferred 18 proposals.
Executives in the segment say some top European, Japanese and Korean retailers are seriously interested.
Government has approved 25 foreign direct investment proposals, including those of Citicorp International Finance and Suzuki Motor Corporation that will bring in Rs 145.12 crore (Rs 1.45 billion) into the country.
Financial power-house JP Morgan's Rs 175 crore (Rs 1.75 billion) investment in its Indian arm was among the 44 foreign direct investment proposals worth Rs 222.19 crore (Rs 2.22 billion) cleared by the government on Tuesday.\n\n\n\n
The criteria for allowing companies to avail of this provision will include profitability, networth, paid-up capital, and turnover.
The Union government on Friday cleared 25 foreign direct investment proposals worth Rs 201.58 crore (Rs 2.02 billion), including one for the development of integrated township in Bangalore.
The government on Tuesday cleared 34 foreign direct investment proposals worth Rs 617.28 crore, including Zee Telefilm's plans to issue Rs 480 crore foreign currency convertible bonds to two foreign companies.
Tusk Investment, Mauritius, a wholly owned subsidiary of private equity firm Elephant Capital, has sought approval from the Foreign Investment Promotion Board (FIPB) to acquire a 30 per cent stake in Amar Chitra Katha Pvt Ltd (ACK).
The government has approved 23 foreign direct investment proposals including the Rs 460 crore (Rs 4.60 billion) plan of Shell Gas BV to set up a 100 per cent subsidiary in India to market transportation fuels.
There has been a decent growth in FDI proposals and new announcements in India to attract foreign investment.
Finance Minister Jaswant Singh on Monday approved 34 foreign direct investment proposals worth Rs 77.11 crore (Rs 77.1 million).
Finance Minister Jaswant Singh on Tuesday approved 23 foreign direct investment proposals involving Rs 40.76 crore (Rs 407.6 million) including that of US-based Pitney Bowes to set up a wholly-owned subsidiary in India.
Oppo's FDI application approved for single-brand retail trading
The government has approved a proposal of British luxury apparel brand Burberry to set up a joint venture in India for single brand retailing. The 153-year old company, famous for its high-end apparels, like trench coats and mufflers, plans to tie-up with Gurgaon-based fashion retail house Genesis Colors for setting up single brand exclusive retail outlets.
The government on Tuesday cleared 26 proposals envisaging foreign direct investment worth Rs 16.08 crore (Rs 160.8 million) including a Rs 5.03 crore.
Rakesh Gangwal's holding is considered FDI even though the majority stake in Caelum is held by NRIs
The government on Thursday cleared 47 proposals envisaging Rs 285 crore (Rs 2.85 billion) foreign direct investment, including a proposal by Hewitt Associates to set up a 100 per cent subsidiary in India with Rs 120 crore (Rs 1.2 billion) investment.
The proposals were cleared by Commerce and Industry Minister Arun Shourie on the basis of recommendations made by the Foreign Investment Promotion Board, an official release said.
However, the finance ministry is yet to apply its mind on whether to merge the interim Pension Fund Regulatory and Development Authority with Insurance Regulatory and Development Authority or have two separate regulators for pension and insurance.
Only a fifth of foreign portfolio investors (FPIs) in breach of the market regulator-specified thresholds may need to provide enhanced disclosure on ultimate beneficiaries, thanks to exemptions being provided, according to people in the know. The ultimate beneficial ownership (UBO) disclosures, for FPIs with over 50 per cent holding in a single corporate group or over Rs 25,000 crore exposure to Indian assets, will be required from February 1. But, depending on their category, FPIs will have 10-30 working days to submit these granular details.
The dealers operating in the space have jumped nearly three times over the past two years.
Axis Bank has reported a better-than-expected 18.4 per cent increase in quarterly net profit.
The move came as the country badly needs capital inflows as the rupee comes under pressure
Tesco was the first global retailer to apply for multi- brand retailing in India.
The government has cleared 408 foreign direct investment proposals involving Rs 3,025 crore (Rs 30.25 billion) in the first half of this fiscal, the Lok Sabha was informed on Friday.
