In July 2011, the country had received foreign investment worth $1.10 billion.
India is one of the largest defence importers.
With Trinamool's 72-hour deadline to the Centre to rollback diesel price hike, LPG subsidy cap and FDI in multi-brand retail coming to an end, opposition JD-U on Monday sought to reach out to Mamata Banerjee saying that she "sticks" to her stand.
The government has asked industry to provide a list of Chinese suppliers that would like to shift some capacity to India provided they are willing to set up JVs with Indian companies.
Defence Minister A K Antony has shot down Commerce Ministry's proposal to raise Foreign Direct Investment in defence from 26 per cent to 49 per cent, saying it will be a "retrograde" step and "stymie" the growth of the domestic industry while increasing dependence on foreign manufacturers.
Talks are underway to allow banks from both the countries to open branches in each other's territory.
Foreign Direct Investment inflows into India increased 47 per cent to $1.7 billion in April-June quarter this fiscal, compared to $1.1 billion in the same period last fiscal.
China's FDI during the first quarter was $43.8 billion, while FDI in the US fell by 60 per cent from a year earlier to $46.1 billion during the same period, leaving a gap of $2.3 billion.
The $20.13 billion inflow 'is the highest FDI into equity in the country during any year', an official release said on Friday. FDI inflows in February 2008 grew a whopping 712 per cent over the year-ago period to $5.67 billion, surpassing the inflows received in any single year since 1991 barring 2006-07, it said.
Foreign direct investment (FDI) into India saw a whopping 310 per cent increase in June to $5.65 billion, the highest monthly inflow in the last 11 financial years, indicating the revival of investor confidence in the Indian economy.
At present, FDI in multi-brand retail is prohibited in India. However, the government allows 51 per cent FDI in single brand retailing and 100 per cent in wholesale trade.
The retail sector seeks industry status, which can reduce the cost of capital and to allow FDI in retail that can increase investments and global competitiveness
The Enforcement Directorate (ED) is probing alleged fraudulent foreign funds infusion of more than Rs 86 crore into a company that runs the NewsClick portal even as it is expected to soon file a charge sheet in the case being probed under the anti-money laundering law, official sources said on Monday.
Floats discussion paper for stakeholders' feedback with a deadline of January 28.
The retail companies are hoping that the Finance Minister Pranab Mukherjee would accord industry status to the sector and allow unrestricted foreign direct investment inflow.
Opposing a government-panel proposal to hike FDI limit in multi-brand retail, the Confederation of All India Traders (CAIT) on Wednesday said such a move will hurt interest of small traders and mostly benefit large corporates.
The deadlock over foreign direct investment in the retail sector continues as government officials on Tuesday informed parties opposing FDI that they will discuss their demands with the Prime Minister Manmohan Singh.
In 1998 and 1999, the Indian government announced a number of reforms designed to encourage and promote a favourable business environment for investors.
Currently, 100 per cent FDI in is permitted if the companies manufacture cigars or cigarettes or allied products.
Cash-strapped telco Vodafone Idea's proposal for investment of up to Rs 15,000 crore through foreign direct investment (FDI) has been approved by the Union government, according to officials. A top-level group, comprising representatives from the ministries of home affairs, external affairs, finance and commerce and industry, took the decision. The nod, which is an enabling provision, would help the financially-stressed company raise funds to pay up some of its dues linked to adjusted gross revenue (AGR), reduce debts and use the money for operational expenses.
India received $2.21 billion in foreign direct investment in February, showing an annual growth of 74 per cent, taking cumulative inflows to $28.40 billion for the April-February period of the last fiscal.
A panel headed by Economic Affairs secretary Arvind Mayaram had suggested FDI limit be raised to 49 per cent in almost all sectors through the automatic route.
The UN Conference on Trade and Development study -- World Investment Report 2010 -- ranks India as the 9th most attractive destination for foreign direct investment, up from 13th last year. It received $35 billion in FDI in 2009.
In February, 2010, India attracted foreign direct investment (FDI) worth $1.7 billion. During the 11-month period from April, 2010, to February, 2011, FDI inflows into India declined by 25 per cent to $18.3 billion, which makes it imperative for the country to fine-tune its policies to attract overseas investment.
India has not made the giant leap that was needed.
Last year, India was ranked second in global FDI flows after China. While China continues in the top place, the US climbed up to second place this year, thanks to a surge in investments by Chinese and Indian companies, who acquired several sick American firms.
Neither the BJP, nor the Congress before it, made any manifesto commitments on defence spending, even though allocations have plummeted from 4 per cent of gross domestic product (GDP) in the late 1980s to less than 2 per cent today, points out Ajai Shukla.
"Foreign Direct Investment (FDI) will bring along backward integration and investment in farm to fork. States like Karnataka, Andhra Pradesh, Tamil Nadu will be able to move produce more efficiently across the country", Confederation of Indian Industry (Southern Region) Chairman T T Ashok said in a statement.
The government had provided some relief to domestic airlines when ATF prices had sky-rocketed, Patel said, adding 'it would not be possible now.'MIAl has proposed that it may be allowed to levy Rs 350 per domestic passenger and Rs 1,300 per international passenger to meet its funding requirements.
Dismayed by the BJP's decision to say no to FDI in multi-brand retail in its election manifesto, India Inc has urged the party to reconsider its stand, saying the move may send a wrong signal to overseas investors.
The European Union on Friday asked India to further open its economy for foreign investments even as the country has taken tentative steps towards liberalising FDI in sensitive defence and multi-brand retail sectors.
The government on Wednesday cleared 21 FDI proposals worth Rs 84.90 crore (Rs 849 million), most of which is likely to be brought in by the world's largest chemical company BASF through an open offer.
The controversy over allowing FDI in retail rocked Parliament for the third day on Tuesday with a united opposition forcing adjournment of both the Houses till noon. Shortly after the Lok Sabha met for the day, members rushed to the Well, demanding rollback of the decision to allow FDI in the retail sector. Members of Trinamool Congress, a key partner of the United Progressive Alliance, kept shouting 'Cancel FDI in retail'.
The discrepancy was pointed out by the finance ministry in the light of changes in foreign direct investment norms, as specified in Press Note II issued earlier this year, while considering the company's proposal to raise Rs 708 crore (Rs 7.08 billion) through fully convertible warrants. Prior to the Press Note II, the FDI component in Kingfisher Airline was just 16.45 per cent.
Foreign direct investment (FDI) inflows into India rose 54.8 per cent in November to $1.64 billion compared with $1.06 billion a year ago, a government statement
Bharatiya Janata Party on Wednesday charged that there were differences between Congress party and the government on allowing FDI in multi-brand retail and dared United Progressive Alliance Chairperson Sonia Gandhi, General Secretary Rahul Gandhi and other senior party leaders to make their views public on the matter.
Foreign direct investment inflows in the country jumped nearly three-fold to $15 billion in 2006-07 as the world's second-fastest growing economy lured investors from across the world.
