In 2011-12, 2010-11 and 2009-10, the sector attracted FDI worth $1.99 billion, $1.66 billion and $2.55 billion respectively.
From the Sensex pack, Infosys, HCL Technologies, Infosys, NTPC, Mahindra & Mahindra, Tata Consultancy Services, Nestle, Tech Mahindra and Bajaj Finance were the major gainers. Power Grid, Larsen & Toubro, Maruti, Titan, HDFC Bank, Wipro, HDFC and ITC were among the laggards.
In the broader market, the BSE Midcap index bucked the trend to gain 0.3%
Prime Minister Narendra Modi's state visit to the US is expected to see discussion on India's possible entry into a US-led global alliance on critical minerals, officials told Business Standard. In June last year, the US, the European Union, and other G7 partners launched the Minerals Security Partnership to ensure that China did not further strengthen its grip on supplies of critical minerals the world over. Various ministries, including the Ministry of Finance, have communicated to the Ministry of External Affairs to explore the possibility of India joining the partnership, officials said.
From the Sensex firms, Bajaj Finance, Bajaj Finserv, Infosys, Bharti Airtel, Kotak Mahindra Bank, Larsen & Toubro, Mahindra & Mahindra, ITC, Tech Mahindra, Tata Steel, Tata Motors, Titan, Reliance Industries and Nestle were the major winners. Hindustan Unilever, Power Grid, Axis Bank, Tata Consultancy Services, State Bank of India, Asian Paints and Wipro were the laggards.
Amid increasing number of cyber attacks and snooping, the government on Tuesday announced the national cyber security policy that aims to protect information and build capabilities to prevent such attacks.
Clearly, Foxconn Chairman Young Liu and his team are looking to raise their game in India.
'While consumers have benefited tremendously from rock-bottom telecom tariffs, the telecom sector has been reeling under deep financial stress,' points out Rajan S Mathews, director general, Cellular Operators Association of India.
A healthy growth in India's services segments has helped the country's total exports and imports of goods and services to cross the $800 billion mark during the first half of 2023, despite a slowdown in global demand, think tank GTRI said in a report on Monday. According to the analysis of the Global Trade Research Initiative (GTRI), exports of goods and services rose by 1.5 per cent to $385.4 billion during January-June this year, as against $379.5 billion in January-June 2022. Imports, however, dipped by 5.9 per cent to $415.5 billion during the six months of this year, as against $441.7 billion in January-June 2022.
However, since the banking system is facing tight cash conditions due to payment for spectrum for high speed telecom and broadband services and advance tax outgo, some experts are also of the view that RBI would wait for liquidity to ease before going for rate hikes.
The govt withdrew the draft encryption policy which made it mandatory for storage of all messages, including social media, for 90 days.
The 2G judgment suggests many bureaucrats have poor application, inadequate interest and are unwilling to be active participants in the policy process, says Babu Jacob.
'Inter-ministerial coordination, information on the proposed PSUs, and due diligence are taking longer than expected to conclude the process.'
Foreign players too will be allowed to compete in the 3G space.
The government will introduce a unified licensing regime, covering operators either on an all-India scale or circle-wise with an aim to increase competition in the long distance segment. \n
The most important lesson is that you have to build your political proposition, and sell it yourself. You can't leave it to the courts, media, NGOs and civil society and expect them to play the role of the Opposition. That's precisely what Mr Modi's challengers have been doing and we know the results, notes Shekhar Gupta.
'The government is unwilling or unable to provide the kind of relief that Vodafone India is asking for.'
The slowdown in corporate revenue growth over the last one year has begun to reflect in India Inc's capital expenditure, or capex. The country's top listed companies are going slow on fresh investment in capacity expansion, in line with a deceleration in their top line growth. The combined fixed assets of the listed companies, excluding banking, finance services and insurance (BFSI) and the government-owned oil & gas firms, were up 10.1 per cent year-on-year (Y-o-Y) during April-September 2023 (H1FY24) - the slowest in 18 months - as against 21.1 per cent Y-o-Y growth in H2FY23 (October 2022-March 2023) and 11.6 per cent growth in the April-September 2022 period (H1FY23).
Disillusioned with the 'politics' in South African cricket administration, Brian McMillan decided to stay away from the game.
Dismissing the view that the Supreme Court's judgement cancelling 122 2G licences was an indictment, Telecom Minister Kapil Sibal on Thursday said that the government will move forward in the issue after regulator TRAI make its recommendations.
Need for much more investment; sector would like govt help
The new telecom policy draft has paved the way for stoking competition and allowing customers to select their long distance operators by calling for introduction of carrier access code immediately.
Former telecom secretary Siddharth Behura, currently in jail in connection with the 2G scam, on Wednesday told the Delhi high court that the 'so called' gigantic loss of Rs 30,984 crore (Rs 309.84 billion) to the state in spectrum allocation was caused due to the government policy and not because of the alleged acts of the accused.
Letter to telecom secretary alleges Jio is masquerading full-blown services in the guise of a trial; no word from Reliance.
''No lobbyists will be able to influence us. If that happens, you can censure me for dereliction,'' he said.
Poor infrastructure could result in a loss of $21 billion of investment to other competing countries in Asia and this was a major threat to the realisation of India's projected IT vision for 2008, a Confederation of Indian Industry paper has said.
Centre mulls strategy to ensure powers given to the agencies are not misused.
Indian telecom sector has registered a phenomenal growth and has become second largest telephone network in the world after China.
India and the US on Friday said they have started talks to put in place a strategic framework for human space flight by year-end as they plan to send an Indian astronaut to the International Space Station in 2024.
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 much-awaited guidelines for the 3G policy will be out this month, assured Communications Minister Andimuthu Raja today. Speaking on the sidelines of a conference, the minister said, "It has been delayed for some time. I will ensure that the policy is out by the 30th of June."
To make the scheme attractive, the government has announced a rate structure wherein the operators may take the optical fibre on lease and provide broadband connectivity to customers.
India's booming telecommunications industry is set to see investment in excess of $20 billion over the next five years, a senior government official said on Friday.
Former telecom minister Arun Shourie agreed with A Raja that the latter had discussed the 2G spectrum issue with Prime Minister Dr Manmohan Singh and then finance minister P Chidambaram before going ahead, but refuted his claim of following the National Democratic Alliance policy.
This State-corporate 'cooperation' didn't begin with the arrival of the Modi government.
Many of the big licences, contracts, and even environmental clearances for the Adani group had come in the UPA's time, points out Shekhar Gupta.
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