J R D Tata, chairman of the Tata group from 1938 to 1991, said that whenever he had to make a difficult decision, he would ask himself, what will be good for India, and what will be good for the Tatas. If he had a doubt, he would decide in favour of India. In the long run, it would turn out well for the Tatas too, he said, points out Arun Maira.
'Once you're wrestling with making a merger of that scale value-accretive, you're also under pressure to keep growing the balance sheet and chasing liabilities, and other things start to slip as a consequence.'
The Reserve Bank of India (RBI) has granted approval for UAE-based Emirates NBD (ENBD) PJSC to acquire up to a 74 per cent stake in RBL Bank for $3 billion, marking the largest foreign investment ever in a domestic Indian bank.
Following the notification allowing 100 per cent foreign direct investment (FDI) in the insurance sector, the Finance Ministry has revised norms to remove the requirement that a majority of directors and key management personnel in an insurance company with foreign investment be Indian residents.
The FIPB, headed by Finance Secretary Arvind Mayaram, at its meeting on Tuesday considered 35 proposals.
'Why not aspire for 8 or 9 or even 10 per cent?'
But selectively, with regulatory scrutiny and special approval, points out Tamal Bandyopadhyay.
The Indian government is reportedly considering increasing the foreign direct investment (FDI) limit in the pension sector to 100 per cent, bringing it in line with the insurance sector. A Bill to amend the PFRDA Act, 2013, is expected in an upcoming Parliament session.
'Once the market decides it wants to go up, it goes up -- no amount of bad news can really hold it back.'
'The next phase of India's IPO cycle will be defined by quality, pricing discipline and investor selectivity.'
AirAsia's Fernandes says CEO for India will be an Indian; proposed airline firm with Tata may hit ministry hurdle
Soft drinks and foods major Pepsico India Holdings Pvt Ltd has applied to the Foreign Investment Promotion Board to invest an additional $200 million (around Rs 950 crore) as equity in its Indian operations.
Reworks proposal submitted to Foreign Investment Promotion Board.
Talks gain ground of strategic stake sale to foreign investor.
This Budget positions India's taxation ideology as not merely a revenue source but as a strategic catalyst for growth, inclusion and long-term confidence.
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.
Swedish bus and truck maker Volvo said on Thursday that it would synergise operations in India by bringing a number of units like exports, IT and component outsourcing, construction equipment, and diesel manufacturing under one entity.
Plans majority stake in JV; to offer NLD, ILD, ISP services.
Indraprastha Gas on Tuesday said it has obtained the approval of FIPB for transfer of equity shares to non-resident Indians, foreign institutional investors and foreign venture capital funds in its proposed initial public offer.
Prem Mehta, CMD, Lintas India said both parties had reached a mutual agreement and the case was now awaiting the approval of the Foreign Investment Promotion Board.
FIPB may be asked to vet downstream projects.
The Foreign Investment Promotion Board has made it clear that Press Notes 2 and 4 issued in February 2009, which changed the way indirect foreign equity would be treated in calculating foreign investment levels in Indian corporations, cannot take effect retrospectively for proposals before the board.
The 10.5 billion-euro Italian oil major ENI is entering the Indian lubricants market through a technology transfer agreement with a Mumbai-based firm to manufacture and sell various products.
In a major relaxation of foreign investment rules in the pharma sector, a special group set up under the finance ministry has suggested it could consider permitting up to 49 per cent FDI (foreign direct investment) in the automatic route for brownfield investments in case the company's control remained in Indian hands.
With response tepid so far from domestic investors, these funds might soon approach FIPB for approvals.
India's leading agriculture commodity exchange, the National Commodity & Derivatives Exchange (NCDEX), has decided to acquire around a 20 per cent stake in a new commodities and financial derivatives exchange being set up in Sri Lanka, subject to regulatory and governmental approvals. The move aims to deepen NCDEX's footprint in the financial ecosystem of its neighbouring country.
The Foreign Investment Promotion Board on Friday gave conditional approval to the proposal of InterGlobe Aviation which would pave the way for fresh foreign direct investment in private air carrier IndiGo.
Rakesh Gangwal's holding is considered FDI even though the majority stake in Caelum is held by NRIs
Hutchinson Max Telecom Pvt Ltd is planning to consolidate its various telecom operations in India under a single entity, including that of Hutchison Essar Telecom Ltd and Fascel Ltd, for which the company has filed an application with FIPB.
US major Procter & Gamble Company plans to increase its stake in the Indian arm, which sells brands like Vicks Vaporub, to 71 per cent by purchasing 2.65 per cent equity of P&G Hygiene and Healthcare.
This is the first Budget in my memory of Budgets over the last half a century which has embraced upfront, enthusiastically and emphatically, technology, modernity and fiscal sobriety, notes Shreekant Sambrani.
At the end of September quarter, Tail Winds held 68,15,843 shares, equivalent to 7.89 per cent holding, of Jet Airways.
Naresh Goyal-led Jet has also changed the shareholders agreement and amended the investment agreement and the articles of association, as suggested by the Foreign Investment Promotion Board, headed by DEA Secretary Arvind Mayaram, official sources said.
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.
'It is imprudent on the part of Indian insurance companies to invest out of the shareholders' fund in a private limited company.'
Currently, FDI up to 26 per cent is permitted through automatic approval route.
