'Looking at the speed at which changes were made post the Franklin Templeton issue, we are awaiting more stricter norms in the months to come.'
Demand on capital gains on Idea share sale by Mauritius subsidiary; Fema and telecom regulation violations also alleged
India and the US on Thursday said they are looking forward to the reconvening of the India-US Trade Policy Forum later this year to further enhance trade relationship and identify new areas for engagement.
India are hosting a motorsport event of this magnitude for the first time since the 2013 Formula 1 Indian Grand Prix, which was dropped from the calendar due to financial, taxation and bureaucratic issues.
The state is trying hard to improve ease of doing business by several notches.
The commitment by Japan to invest $35 billion or 3.5 trillion YEN is for infrastructure sector over five years.
Move to make investing in sectors with FDI cap easier.
To further simplify the foreign investment regime, the Department of Industrial Policy and Promotion proposes to ease investment norms for foreign companies that have existing joint ventures or technical collaborations in India.
The Indian industry has turned bullish after witnessing the lows of global economic crisis, as it unveiled investment plans of close to Rs 1 lakh crore in January 2009, up 65 per cent from December.
Foreign direct investment into the country is expected to rebound in the coming months on account of India's high economic growth, and steps to further improve the business environment of India, the Economic Survey said on Tuesday. The rise in global uncertainty in the wake of the Russia-Ukraine conflict, FDI equity inflows in the manufacturing sector in the first half of the current fiscal (April-September) fell below its corresponding level in the first half of 2021-22, the document, which was tabled in Parliament, said. The monetary tightening at the global level has further restricted the FDI equity inflows, the survey said.
P2P platforms do not have the safety net. Instead of playing the role of an intermediary, if they run their own balance sheets for safety and growth, it's a recipe for disaster, warns Tamal Bandyopadhyay.
The government on Wednesday cleared the setting up of an Investment Commission to woo foreign as well as domestic investors for major projects in the country.
Dismissing as baseless Kitex group chairman Sabu Jacob's allegation that the atmosphere in Kerala is not industry-friendly, state Industries Minister P Rajeev on Wednesday said his government stands for "responsible investment" and the southern state would be made a destination of such investments in few years. In an exclusive interview to PTI, Rajeev said the focus of the government is to attract green industries and IT-based industries in Kerala as land scarcity and environmental issues associated with it have been a problem in the state. "We are always taking a stand in favour of investment, in favour of industries. But our need is that--investment should be responsible. We stand for responsible investment," said Rajeev, who represents Kalamassery-an industrial hub in Kerala--in the state Assembly. Elaborating on responsible investment, the minister said it is a strategy and practice to incorporate environmental, social and governance (ESG) factors in investment decisions.
Providers write to Sebi, FinMin; launches may hit pause.
In yet another secretary-level change, government appointed Hasmukh Adhia, a 1981 Gujarat cadre IAS officer, as the new Financial Services Secretary replacing G S Sandhu.
'We now look at divestment as an opportunity for maximising the value of public assets, not necessarily as a short-term resource-raising measure.'
UK's largest retailer Tesco, Singapore Airlines and Etihad queued up to invest in India as a persistent UPA threw open more sectors to foreign investments with indications of more big ticket deals to be announced in the new year.
A joint venture of the Indian conglomerate Vedanta and Taiwanese electronics manufacturing giant Foxconn signed a memorandum of understanding with the Gujarat government on Tuesday to set up a semiconductor and display manufacturing unit in the state.
To boost Make in India in defence production, Finance Minister Nirmala Sitharaman on Saturday said foreign direct investment limit in defence manufacturing will be hiked to 74 per cent from 49 per cent while some weapons and platforms will be banned for imports.
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.
After Nasim Zaidi retired as Chief Election Commissioner in July, there was a vacancy in the poll panel.
The challenges before the IT industry are many and its response over the coming months will shape the future of what has been one of the most vibrant value-creating and livelihood-enabling sectors.
The Maharashtra government will issue a white paper in the next 30 days on some mega projects going out of the state and if any steps were taken by the previous MVA government to retain them, Industries Minister Uday Samant said in Mumbai on Tuesday. The Eknath Shinde-Devendra Fadnavis government is under fire from the Opposition which has accused the ruling dispensation of failing to retain big-ticket Vedanta-Foxconn and Tata-Airbus projects in the state. Both projects chose Gujarat over Maharashtra to set up their units.
While the market for satellite broadband currently is small, the potential is large as an estimated 30 per cent of the country does not have reliable terrestrial broadband services.
This amendment is proposed to be made retrospectively effective from FY16 onwards.
As many as 15 companies, including Adani Copper Tubes, LG Electronics and Wipro Enterprises, with committed investment of Rs 1,368 crore, have been selected as beneficiaries under the PLI scheme for the white goods sector, the government said on Tuesday. In March, the commerce and industry ministry had reopened the application window for its Rs 6,238-crore PLI scheme for white goods -- air-conditioners (ACs) and LED lights-- with an aim to accommodate more players as several firms had expressed interest in the initiative. Last year, as many as 46 firms, including Daikin, Panasonic, Syska and Havells, with committed investment of Rs 5,264 crore were selected in the first round the scheme.
"The US Labour Department has contributed $20 million to the INDUS project, the largest programme ever supported by the department outside the United States, which aims to ensure child labour elimination from hazardous industries in 21 districts," he said while inaugurating a seminar in Kolkata on Monday. Jardine said the districts selected for the project were spread across Madhya Pradesh, Maharashtra, Tamil Nadu, Uttar Pradesh and NCT Delhi.
India, at present allows 51 per cent FDI in single brand retail and 100 per cent in the cash-and-carry .
The cabinet also agreed to the proposal to remove the governor from the post of the 'visitor' of private universities and give it to the state's education minister instead.
The dust over the controversy around foreign direct investment (FDI) in the defence sector appears to have settled.
Their favourite alternatives: Malaysia, Vietnam and the Philippines. Note, India is missing from that list. And this is despite an attractive financial incentive scheme for OSAT players. The reason, said a senior executive of a US chip company who had a meeting in Taiwan just a few weeks ago, is that "they want more predictability in government policy because they plan to put in big money."
The strategic sale of government and state-owned Life Insurance Corporation (LIC) of India stakes in IDBI Bank might encounter procedural delays, potentially pushing the timeline for expected financial bids to the third quarter of the current financial year (2023-24, or FY24), according to sources familiar with the development. Financial bids constitute the second significant step in the divestment process, following expressions of interest (EoIs) from potential bidders. In this phase, bidders are required to quote transactional fee as a percentage of the divestment proceeds, which are then added to the government's kitty after completion of the transaction.
Foreign direct investment (FDI) equity inflows into India contracted by 16 per cent to $43.17 billion during the April-December 2021 period, according to data from the Department for Promotion of Industry and Internal Trade (DPIIT). The inflows had stood at $51.47 billion during the corresponding period of the previous year. The total FDI inflows (which includes equity inflows, re-invested earnings and other capital) aggregated at $60.34 billion during the nine month period of the current fiscal year as against $67.5 billion in the year-ago period.
The sustainable impact of this process is under scrutiny, Tripathi added.
Tata Motors has more than doubled its investment plans for the small car project in Singur in West Bengal.
Industry players credit Sebi's first woman chairperson with putting special emphasis on cyber security, use of tech and data, areas where Sebi is trying to 'stay ahead of the curve'.
'In FY21, as of October, LIC has booked a profit of Rs 18,800 crore through sale of equities.'
A series of steps taken by the government to promote ease of doing business and liberalisation of foreign direct investment norms have helped India receive record FDI inflows so far this year, and implementation of measures like PM Gati Shakti, single window clearance and GIS-mapped land bank are expected to further push investments in 2022. Notwithstanding the global slowdown and the COVID-19 pandemic, total foreign direct investments into India rose to a record $81.72 billion in 2020-21. During April-July this fiscal, FDI (foreign direct investment) into the country increased by 62 per cent to $27.37 billion.
Amazon India is waiting for clarifications from the government on several aspects of the latest FDI guidelines to be able to carry on with business in the country. Sources said, no new investment is likely till at least the second half of 2019.
From the seas to the stars, this partnership will now be deepened by the defining role of technology, the statement said.
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