This is the largest investment in the single-brand retailing ever since the government has allowed foreign direct investment.
The aviation minister, Ajit Singh, on Tata-Air Asia joint venture
In a reversal of its recommendations made in April 2008, the Telecom Regulatory Authority of India whittled the increase it had suggested then in the foreign direct investment cap for companies set up to uplink television news channels, as well as in FM radio.
FIPB had taken up these three proposals in its meeting in August, but the decision on them was kept in abeyance.
Eighteen of 30 product categories proposed by Swedish furniture major struck off.
Three foreign single-brand majors apply in the past one month.
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
The Foreign Investment Promotion Board, headed by DEA Secretary Arvind Mayaram, approved the proposal at its meeting in New Delhi.
Ananjan Mitter, partner at ALMT Legal, a law firm, has represented Air Charter Service in the venture's application to the Foreign Investment Promotion Board, a key wing in the finance ministry that vets foreign direct investments proposals of companies.
AirAsia recently said it would set up a 49:30:21 joint venture with the Tata Sons and Telestra Tradeplace of Indian investor Arun Bhatia to launch a new Indian airline.
India's foreign investment panel has approved Swedish retailer IKEA's Rs 10,000 crore plan to set up shop in the country, the trade minister said.
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.
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).
IKEA's proposal was withdrawn from the December 31 meeting agenda of the Foreign Investment Promotion Board, as more information was sought from the company regarding its foreign direct investment plans in India.
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
Auto, tourism exceptions but major sectors otherwise saw decline in FY13 inflows.
Jet Airways' plan to raise funds from international institutional investors will come up for approval by the Foreign Investment Promotion Board this week.
A major chunk of this FDI would flow through induction of foreign stake in telecom infrastructure provider Aster Infrastructure Ltd. The Secunderabad-based company plans to hike foreign stake to 72.5 per cent for Rs 232.58 crore (Rs 2.32 billion).
The Foreign Investment Promotion Board, the nodal body for approving foreign direct investment in the country, has given its nod to a proposal from Germany-based Deutsche Bank to buy a 5 per cent stake in the Delhi Stock Exchange.
FIPB rejected the proposal on the grounds that it did not comply with the 26 per cent cap on foreign direct investment in insurance ventures, government sources said.
FIPB may be asked to vet downstream projects.
The Enforcement Directorate (ED) is proposing a penalty on German sportswear giant Adidas' subsidiary Reebok India for alleged violations of the Foreign Exchange Management Act (Fema).
The $100-million fund, which has the option to raise a further $200 million, will benefit small and medium enterprises engaged in defence production.
The Foreign Investment Promotion Board seems to have laid to rest the controversy surrounding FDI investments routed via Mauritius.
The Foreign Investment Promotion Board has pulled up the department of revenue for rejecting all foreign direct investment proposals in which funds are routed through Mauritius and said it has taken a conscious policy decision to overrule such objections.
Civil aviation ministry raises procedural issues in FIPB meeting.
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 Wednesday said it has cleared Norwegian telecom firm Telenor's proposal to invest Rs 1,000 crore in a joint venture company in the telecom sector.
The government on Wednesday cleared 21 FDI proposals worth Rs 84.90 crore (Rs 849 million), most of which is likely to be brought in by the world's largest chemical company BASF through an open offer.
'It is imprudent on the part of Indian insurance companies to invest out of the shareholders' fund in a private limited company.'
The government on Friday cleared 21 foreign direct investment proposals envisaging Rs 35.55 crore (Rs 355.5 million) investment, including Rs 27 crore (Rs 270 million) proposal by Advanced Mineral Asia Pte.
The health ministry plans to oppose the application from Japan Tobacco International Ltd, the world's third largest tobacco company, to the Foreign Investment Promotion Board to raise its stake in its Indian venture from 50 to 74 per cent. The application is slated for consideration in the FIPB meeting on Tuesday.
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.
The FIPB referred the matter to the law ministry today.
