To ease the flow of foreign direct investment into real estate, the government is mulling a proposal that mixed development projects should be exempt from the minimum capitalisation and area development norms.
The meeting assumes significance as Swedish furniture retailer IKEA, which plans to invest Rs 10,500 crore (Rs 105 billion) to set up its own stores in India, had sought relaxation in certain conditions related to the mandatory 30 per cent sourcing from micro and small enterprises.
Rail ministry pinning hopes on foreign partner and private capital
Except for laws pertaining to the payment of minimum wages, following safety norms and adequate compensation for workers in case of industrial accidents, no other provisions of the labour law would apply to all new companies that wish to operate in the state for at least 1,200 days, and for those that have already been operational for that period.
India's national commodity exchanges will have to now wait longer for the government nod for foreign direct investment.
How do you feel about Modi 2.0's first Budget? Does it meet your expectations? Or do you feel let down?
'We see the defence industry as one of the leading sectors, which will significantly contribute to the growth of the Indian economy, but more importantly, bring atmanirbharta to national security.'
The government had first mentioned raising foreign direct investment ceiling in insurance sector to 49 per cent from the current 26 per cent in the 2004 Union Budget and introduced a Bill to do so over a year ago.
Flipkart claims to have more than 90,000 sellers on its platform.
The proposed e-commerce rule book issued recently by the ministry of consumer affairs does not mention foreign companies or foreign direct investment (FDI) at any place, unlike most other government guidelines for the sector so far. That is a heartening development since the latest proposals could be fine-tuned as e-commerce policy.
The sector requires proper implementation of policies, coupled with reasonable taxes and improved basic infrastructure.
The finance ministry is learnt to have raised a serious objection to the proposed relaxation in the foreign direct investment norms in restricted sectors such as telecom and insurance.According to sources in the government, in a meeting of a group of ministers on Tuesday, the finance ministry representatives argued that the proposed relaxation would effectively remove the current limits in the respective sectors. Sources said senior members of the GoM also objected.
The 30-share Sensex ended up 248 points at a record closing high of 27,346.
Trump can afford to say that COVID-19 is a 'China virus', but we can't expect Modi to say that aloud while his actions may speak louder, says Rup Narayan Das.
The searches are in connection with alleged violation of foreign direct investment norms that is linked to an earlier case of revocation of Foreign Contribution (Regulation) Act licence of the NGO by the Union home ministry in 2010, the ED said.
Concerns over effective control not addressed in the second revised shareholders' agreement, says DIPP; Sebi opposes commercial cooperation pact
US retail giant Walmart has asked the government for more time to convert $100 million of debentures held in a Bharti Group unit, an investment that's being investigated for alleged violation of norms.
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.
The government will next month review the foreign direct Investment policy to lay down norms for preventing companies from breaching the sectoral limits, Commerce and Industry Minister Kamal Nath said on Monday.
In the near term, two key factors are the outcome of the monsoon season in respect to cropping yields; and the correction in the crude oil price.
It is also considering to hike FDI cap for public sector from 20 per cent to 49 per cent
The department of industrial policy and promotion has been engaged in the annual exercise of review of the FDI policy for several months and has received quite a feedback from number of ministries like petroleum, food processing and finance.
The minister, however, said she was not in favour of relaxing rules for Apple to sell refurbished second-hand phones in India
The FDI in pension sector would move in tandem with the insurance sector, official sources said, adding that the revised norms would be incorporated in the Pension Fund Regulatory Authority Bill expected to be introduced in Parliament during the upcoming Budget session.
Amazon signed up Motorola as an exclusive brand partner for its new devices, which in turn helped it grow
Sebi takes 6 merchant bankers to task for lapses in IPO
A historical context would underline the same point.
The Reserve Bank said overseas investors, including FPIs and NRIs, can invest up to 26 per cent in insurance and allied activities through the automatic route.
Market watchers believe that the change in guidelines fly in the face of some of the recent initiatives taken by the government, such as easing norms for foreign portfolio investors.
DoT sent the final Cabinet note to various ministries on Monday. The telecom companies have to comply with the FDI guidelines by January 2.
After 100% FDI, DIPP has put a condition an e-commerce entity will not be permitted more than 25% of sales through its marketplace from one vendor or their group companies
Commerce and Industry Minister Suresh Prabhu is slated to meet senior executives of Apple on the sidelines of the World Economic Forum in Davos later this month.
A look at the key decisions taken by the Narendra Modi government in its six months.
In a year marked by economic downturn, the estimated $500 billion retail sector in India saw growth slowing down to 10-11 per cent from high double digits growth earlier.
Indian tax laws are a source of frustration for US companies, says US Ambassador to India Nancy J Powell.
Conversion of outstandings into equity even partially should be a strict no-no says Chatered Accountant S Murlidharan
