Current FDI norms allow a foreign airline to hold up to 49 per cent in a domestic carrier.
The petroleum ministry has agreed to the proposal of the department of industrial policy and promotion and it would be taken to the Cabinet along with the general review of the FDI policy in September.
Apple's online launch is a symbol of success for FDI in single-brand retail, though there's no indication of how much the Silicon Valley major would invest in the country.
Private carrier Jet Airways is re-working a comprehensive profitability plan sought by its foreign partner Etihad Airways, which completed a 24 per cent stake purchase in the Naresh Goyal-led carrier recently.
Amazon has increased the commission on non-core segments by 2-9 per cent.
'These firms do not contravene provisions of Chartered Accountants Act, 1949, which bar members of the countries not allowing Indians to practice accountancy in their jurisdiction to become chartered accountants in India,' said the committee, headed by Anurag Agarwal, a joint secretary in the ministry of corporate affairs, and such Indian audit firms cannot be equated with multi-national corporations.
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.
One of Apple's suppliers, Salcomp, will invest Rs 2,000 crore over the next five years to make components at a Nokia plant in Chennai. The facility, which has been closed for nearly 10 years, will be revived and made operational from March 2020.
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
May include 'influencing a company's major policy decisions' in the current meaning.
Singapore Airlines will hold 49 per cent stake in the airline, while the rest will be held by the Tata group.
India will soon make available many more COVID-19 vaccines to other countries after two Made-In-India jabs have already been introduced to the world, Prime Minister Narendra Modi said on Thursday while emphasising the country's global responsibility in fighting the pandemic.
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
The government has taken a number of steps to stem the depreciation of rupee including moderation in demand of non-essential imports and enhancing supply of capital flows, Finance Minister P Chidambaram said.
Each dept could handle a designated area.
Other measures being considered include relatively stringent KYC norms and a separate standard operating procedure for approval, renewal, and fresh investment from India's neighbouring countries.
In a recent interview, Narendra Modi, set to take charge as prime minister in a few days, had said his government wouldn't roll back any policy in the sector.
Bhargavi Zaveri & Radhika Pandey explains how complexities of foreign exchange rules are used by India Inc to dispute contractual obligations.
Another point of contention is the invoice issued by the e-companies.
Inflow of more funds is likely to widen the reach of insurance and drive M&A activities in the sector where growth has stalled.
The Union Cabinet on Wednesday approved the signing of a comprehensive economic cooperation agreement, a kind of a free trade pact, between India and Mauritius which is aimed at liberalising norms to boost two-way commerce
Retailer bodies to demand govt action against I-Day sales offers, threaten legal action for breach of FDI rules.
A heavy agenda including the ordinance on the Food Security Bill awaits the Monsoon session of Parliament beginning on Monday amid expectations that the short sitting will be more businesslike and smooth as compared to the din and dust in the last few sessions.
French giant might apply for multi-brand retailing if UK rival gets nod.
Seeking to further strengthen bilateral economic relations, Prime Minister Narendra Modi on Sunday said India and the US will "restart" discussions on the Social Security Agreement and resume talks on Bilateral Investment Treaty.
The Central Consumer Protection Authority (CCPA) on Wednesday said it has imposed a penalty of Rs 1 lakh on e-commerce firm Flipkart for allowing sale of substandard domestic pressure cookers on its platform, in violation of mandatory standards. Headed by Chief Commissioner Nidhi Khare, the CCPA has directed Flipkart to recall all such 598 pressure cookers sold on its platform, reimburse their buyers, and submit a compliance report within 45 days. The central government routinely notifies the Quality Control Orders (QCOs), specifying compulsory conformity to a standard and use of the standard mark for a product to protect consumers from the risk of suffering injury and harm and in the interest of the public at large.
The opposition leaders also accused the government of violating Constitutional norms by not inviting President Droupadi Murmu to the event.
It said equity injection by foreign retailers is likely to improve the capital structure of their Indian peers, to help part-fund future capex requirements.
Global retail giants, including IKEA, Walmart and Carrefour, are studying the finer details of India's relaxed foreign direct investment norms for the sector as they look to tap opportunities in the country.
This announcement will widen the base of investors, especially mid-sized financial institutions.
The government made these changes in the third edition of the Consolidated FDI Policy Circular, a ready reckoner on foreign investment-related regulations that was released in New Delhi on Thursday.
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 Union Cabinet on Thursday decided to allow 51 per cent FDI in the retail sector.
Apple and Samsung are international players and should work as a team with domestic companies to transform India into a global powerhouse: IT Minister Ravi Shankar Prasad.
'China's investment destination image the world over has taken a beating, therefore investors feel India is a safe haven for investments.' 'FDI is at an all-time high in India.' 'Now after such poor ratings, this FDI amount will fall.' 'Therefore, I am saying these things are happening at China's behest.'
In the past eight months, Flipkart has seen the exits of Mukesh Bansal, considered the right hand man of Sachin and Binny Bansal; Ankit Nagori, chief business officer; Punit Soni, Flipkart's million-dollar hire from Silicon Valley who headed product and strategy; and Manish Maheshwari, head of the seller business
The government on Friday modified FDI policy allowing unlisted companies to directly list on stock exchanges abroad to raise funds for acquisitions or retiring overseas debts, a move which may help India in containing high current account deficit.
