The Centre on Thursday cleared 14 Foreign Direct Investment proposals worth Rs 1,257 crore, including those of Mauritius-based Essar Telecom Holdings Ltd and US-based Goldman Sachs Asset Management. The proposals include induction of foreign equity worth Rs 500 crore by Essar Telecom Holdings and Rs 200 crore from GSAM. The investment proposals were cleared by Finance Minister P Chidambaram on the recommendations of the Foreign Investment Promotion Board.
Currently, FDI up to 26 per cent is permitted through automatic approval route.
Banks will be able to give loans to Indian companies for acquiring the entire equity stake or a controlling part of it in domestic or foreign firms as strategic investment that creates long-term value rather than for short-term financial restructuring if the Reserve Bank of India's (RBI's) draft circular, issued on Friday, comes to fruition.
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
The exemption of individual life and health insurance premiums from the Goods and Services Tax (GST) enables the insurance industry to make products affordable and attractive, said Ajay Seth, chairman of Insurance Regulatory and Development Authority of India (Irdai) at the Business Standard BFSI Insight Summit 2025.
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.
Eighteen of 30 product categories proposed by Swedish furniture major struck off.
FIPB had taken up these three proposals in its meeting in August, but the decision on them was kept in abeyance.
Three foreign single-brand majors apply in the past one month.
The Foreign Investment Promotion Board, headed by DEA Secretary Arvind Mayaram, approved the proposal at its meeting in New Delhi.
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
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.
The Securities and Exchange Board of India (Sebi) on Monday approved the introduction of a new asset class, designed to offer greater flexibility to fund managers and target investors with a higher risk appetite. The markets regulator also cleared the liberalised Mutual Funds Lite (MF Lite) framework, aimed at fund houses that solely launch passively managed schemes. In another significant move, the board reduced the timeframe for rights issues from the current 317 working days to just 23.
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.
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).
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
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).
Auto, tourism exceptions but major sectors otherwise saw decline in FY13 inflows.
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.
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.
