Three foreign single-brand majors apply in the past one month.
The Industry Ministry is in favour of allowing foreign airlines to invest in domestic carriers, saying it would help the cash-crunch industry to raise equity, an issue that does not find support among many Indian airlines.
The Department of Industrial Policy and Promotion in the Commerce Ministry proposes to scale back the Foreign Direct Investment ceiling for the tobacco industry from 100 to 74 per cent and insert a caveat that cigarettes manufactured in the new ventures or in upgraded facilities must be mainly for consumption outside India.Sources said the department, which is responsible for the policy on FDI, is finalising a cabinet note aimed at comprehensive review of the tobacco policy.
If Modi wants to leave a real legacy, breaking India's strategic triangulation would be the real gift, notes Shekhar Gupta.
Pakistan's deputy Prime Minister and Foreign Minister Ishaq Dar, who is in China on a four-day visit, and Chinese Foreign Minister Wang Yi co-chaired the fifth round of the foreign minister-level China-Pakistan Strategic Dialogue.
Ecommerce firms will have it tough as govt turns down FDI proposal.
One of the papers could be on liberalising the foreign direct investment regime in the retail sector.
Ruling out any rollback of the policy to allow foreign investment in multi-brand retail in the country, the government on Thursday said it would issue the guidelines in due course.
The government has decided to extend the Rs 25,938-crore production-linked incentive scheme for the automotive sector by one year, Union Heavy Industries Minister Mahendra Nath Pandey said on Tuesday. Post extension, the five-year scheme, originally in place from 2022-23 to 2026-27, will be active until 2027-28. At present, incentives are applicable under the scheme for determined sales of Advanced Automotive Technology (AAT) products (vehicles and components) manufactured in India from 1 April 2022 onwards for a period of five consecutive years.
Even as the government today gave Saurabh Chandra, secretary, department of industrial policy and promotion (DIPP), the additional charge of secretary, Department of Commerce, Dinesh Kumar Mittal has emerged as the front runner for the post.
Anand Sharma, who took charge of the nodal ministry for FDI on May 29, said there is no need for a relook at the policy amended in February by the Department of Industrial Policy and Promotion. While the policy does not allow overseas inflow into this sector, the changes in February were perceived to be opening the sector to FDI up to 49 per cent in an Indian firm that has a downstream subsidiary firm in retailing.
Currently, the five-year FTP aims to raise total exports to $900 billion but targets may be reduced
It plans an investment Rs 20 crore.
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.
This is the largest investment in the single-brand retailing ever since the government has allowed foreign direct investment.
Tesco, which has sought the government's permission to buy 50 per cent stake in Tatas-owned Trent Hypermarket Ltd, will have to invest atleast $55 million in creation of fresh back-end infrastructure.
With rising incomes, education, and health awareness in India, especially in the big cities, droves of people are saying no to sugar.
The Department of Industrial Policy and Promotion has been working on the draft for the last several months. The areas coming up for review may include sports goods and airport ground handling services, besides gas and petroleum.
In recent times, more and more audit firms have challenged company managements, some going to the extent of resigning on the ground of incompatibility with what the management wanted or was doing. This, said Ajay Bhushan Pandey, chairman of the National Financial Regulatory Authority (NFRA), in a media interview, was a good sign. Now, the national accounting watchdog has turned the spotlight on audit firms themselves.
New policy to give greater flexibility to foreign players.
'The government must make clear once and for all that promotions in the Indian Army are not the right of individuals, but a privilege given in accordance with role and function.'
The Indian government has asked the cement industry to concentrate on modernisation and upgradation of technology, optimisation of operations and increased application of automation and information technology.
A policy-related problem that urgently needs to be redressed is the 'miniaturisation' of projects.
The Union Cabinet is expected to soon consider a proposal to increase foreign direct investment cap in broadcasting services like Direct-to-Home and cable TV networks to a uniform 74 per cent.
Representatives from four states including Maharashtra and Karnataka will also be members of the panel.
Currently, 100 per cent FDI in is permitted if the companies manufacture cigars or cigarettes or allied products.
Four states - Karantaka, Kerala, Odisha and Rajasthan - were in the top performers' category.
In a discussion paper, the Department of Industrial Policy and Promotion has suggested creation of new service entities to which most of the statutory compliances, under the labour laws for small and medium enterprises, can be outsourced.
The commerce and industry ministry is not in favour of allowing foreign airlines to buy stake in Indian carriers on the ground that the sector is sensitive.
Road ministry identified bike-sharing, carpooling and e-rickshaws as ways to deal with rising pollution in major cities.
Total foreign direct investment (FDI) inflow to India declined to $74.01 billion in the calendar year 2021, which is 15 per cent lower from $87.55 billion recorded in the previous year, the ministry of commerce & industry said on Wednesday. The FDI inflow includes equity inflow, equity capital of unincorporated bodies, re-invested earnings and other capital. "FDI is largely a matter of commercial business decisions and FDI inflow depends on a host of factors such as availability of natural resource, market size, infrastructure, political and general investment climate as well as macro-economic stability and investment decision of foreign investors.
The commerce ministry has sought a review of foreign direct investment policy in the pharmaceutical sector, in the light of recent takeovers of domestic companies by multinationals.
The government of Uttar Pradesh will not declare a new sugar policy unless farmers are paid the cane arrears amounting to Rs 2,700 crore (Rs 27 billion) that sugar mills owe them.
As the world celebrated International Day of Persons with Disabilities (PwD) on December 3, corporate India has kept up with efforts to make workplaces more inclusive and accessible. Organisations across sectors are taking initiatives such as equipping offices with practical work tools like Braille-friendly and voice-enabled lifts and screen readers. While inclusion has gained pace, only 11.3 per cent (or 3.4 million out of 30 million) Indians with disabilities have jobs.
Ministerial consultations on, with recognition of the potential, and the need to not classify it under the same rules as for pharmaceuticals.
The retail company has sought approval to invest Rs 10,500 crore to set up single-brand retail stores in the country.
Addressing an event in New Delhi, Gen Pande also said the recent global developments have underscored that the security of the nation can neither be outsourced nor be dependent on the largesse of others.
DIPP's proposal is believed to have the support of the ministry of consumer affairs, food and public distribution and was originally mooted by the Forward Markets Commission.
The total dividend income for seven firms grows 25%.
