The $100-million fund, which has the option to raise a further $200 million, will benefit small and medium enterprises engaged in defence production.
DEA objects to the company's 29 Indian stores having sub-brands as a rule violation; DIPP doesn't agree.
Move to impact joint ventures in telecom, insurance, broadcasting.
While the new norms are part of the draft policy's guidelines to fight counterfeit and fake products on platforms, they might end up helping brands and e-commerce firms sign exclusive sale deals.
Among other things, taking note of complaints against several Chinese e-commerce players such as Shein, Ali Express etc for sending shipments as 'gifts' to customers in India and avoiding duties, the government has now mandated that all e-commerce sites and apps must have a registered business entity. This will be the importer on record and subject to customs rules, report Subhayan Chakraborty, Neha Alawadhi and Karan Choudhury.
The commerce and industry ministry had moved a Cabinet note to allow foreign carriers pick up equity in their Indian counterparts.
Stressing on the 'Make in India' initiative, a Ministry of Defence appointed committee has recommended enhanced private sector involvement by granting manufacturers tax and import concessions.
India received foreign direct investment (FDI) worth $1.79 billion in February, 2013 -- a decline of about 19 per cent due to global economic slowdown.
Sources said the people would be hired at different levels, including application examiners.
This was in response to the assertion of some officials of the finance ministry and the Department of Industrial Policy & Promotion that a strategically placed comma in DIPP's press note on FDI in civil aviation meant foreign airlines were allowed to hold up to 49 per cent stake in existing Indian carriers, as well as new airline companies being set up.
The term of Subbarao as RBI chief ends on September 4, while the next mid-quarter policy review is due on September 18.
Notwithstanding its inability to open multi-brand retail for foreign investment, government on Tuesday notified 100 per cent FDI in single-brand retail, paving way for global chains like Adidas, Louis Vuitton and Gucci to have full ownership of their India operations.
A new entrant, whether a popular actor or not, has not been able to sweep the polls, as their fans had hoped for. Given a proven pattern, it should hold true for Vijay as well. Or, something drastically has to happen between now and 2026, asserts N Sathiya Moorthy.
More than half a dozen companies will hit the market with their initial public offerings (IPOs) between now and the end of next week. The cumulative amount raised from these IPOs is expected to be around Rs 8,000 crore. Stationery products firm DOMS Industries and home financier India Shelter Finance's IPOs - of Rs 1,200 crore each - got off to a flying start on Wednesday (December 13), with the former garnering over six times the subscription and the latter getting 1.5 times subscribed.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
Growing up in the Mumbai of 1970s, Uday Kotak aspired to be a cricketer and trained under legendary coach Ramakant Aachrekar. However, it was an on-field injury which resulted in a shift to finance. He started off with bill discounting, turned to lending and successfully applied to start a universal bank in the first decade of the millennium, as India was warming up to private play in banking.
Foreign inflows, in August 2012, had declined by 20 per cent to $2.26 billion after registering an increase in July at $1.47 billion.
The Department of Industrial Policy and Promotion under the commerce ministry has floated a draft Cabinet note for inter-ministerial discussions on foreign direct investment in aviation.
The Department of Industrial Policy & Promotion and Planning Commission member Arun Maira are sticking to their guns on foreign direct investment in the pharmaceutical sector.
The Union ministry of agriculture and the department of land resources under the ministry of rural development have given "in principle approval" to a proposal of the Department of Industrial Policy and Promotion (DIPP) to invite FDI for developing non-arable land through better technology into fertile and cultivable land.
...and getting GDP to measure India's data economy, recommends Ajit Balakrishnan.
Retail, telecom, media and a host of sectors in which foreign direct investment is restricted stand to gain from changes in FDI policy that the Cabinet Committee on Economic Affairs cleared on Wednesday linking approvals to the concept of control for the first time.
After declining for two months in a row, foreign direct investment (FDI) in India grew by 8 per cent year-on-year to $2.15 billion in January.
US retail giant Wal-Mart, which has signed a joint venture with the Bharti Group for wholesale cash and carry business, will restrict itself to technical support and training in Sunil Mittal firm's foray into retail.
FIPB split over Bates' Sercon stake buy. Ravi Shastri's firm alleges violation of Press Note 1.
'We would like to develop Andhra Pradesh into a logistics hub not only for India, but also for South Asia.'
In a consultation paper issued on Tuesday, the department of industrial policy and promotion sought comments on whether FDI should be restricted to LLPs operating in sectors without any investment caps, conditionalities or entry route restrictions.
The challenge for the RBI in 2024 is likely to be less about containing elevated inflation and more about curbing excessive financial market exuberance and a 'problem of plenty', notes Sajjid Chinoy, Chief India Economist JP Morgan.
The petroleum ministry has recommended a hike in the foreign direct investment cap in government-owned refineries to 49 per cent from the current 26 per cent.
In October 2011, the country had attracted FDI worth $1.16 billion.
Government has issued a formal notification for raising foreign direct investment limit in public sector refineries to 49 per cent. The FDI would require prior approval of Foreign Investment Promotion Board. The condition of compulsory divestment of up to 26 per cent by foreign companies commencing trading and marketing of petroleum products has been deleted. Government had allowed 100% FDI in actual trading and marketing of petroleum products, with 26% divestment condition.
The finance ministry has given its consent to the draft Cabinet note on opening the multi-brand retail to foreign investment, an official said.
The Kochhars were arrested by the Central Bureau of Investigation (CBI) last Friday. Dhoot was arrested on Monday. The three were produced before special judge S H Gwalani at the end of their earlier remand on Thursday.
In 2011-12, FDI rose 34.4 per cent to $46.84 billion, compared with $34.84 billion in 2010-11 and $37.74 billion in 2009-10, according to data from the Department of Industrial Policy and Promotion.
A special Central Bureau of Investigation court here on Wednesday extended till December 29 the CBI custody of former ICICI Bank CEO and MD Chanda Kochhar, her husband Deepak Kochhar and Videocon group founder Venugopal Dhoot in connection with a loan fraud case. The probe agency arrested Kochhars last Friday after questioning them briefly. Dhoot was arrested on Monday.
Spurring the economy, currently in the throes of a slowdown, remains the prime focus for most ministries, but the government is also looking to make women's welfare and environmental protection key to policymaking in this term.
For someone who is such an indefatigable litigant, what is stopping Mr Saxena from using the law to depose Mr Kejriwal? Maybe we will get the answer after May 25, notes Aditi Phadnis.
Govt has done away with the need to secure crucial permits.
Coming out strongly in defence of foreign direct investment in retail, the ministry of commerce and industry has told the Prime Minister's Office that there is no empirical evidence to suggest that organised retail would adversely impact small retail
The government has authorised economic think-tank Centre for Monitoring Indian Economy (CMIE) to collect data to be used for compilation of the new series of Index of Industrial Production (IIP).
