Government is likely to face stiff opposition on FDI in retail in the Monsoon session of Parliament beginning on August 8.
Stepping back to break the logjam in Parliament, the government on Wednesday put the controversial decision on foreign direct investment in retail on the backburner till a consensus is evolved, a proposal the entire opposition and the dissenting allies accepted without reservation.
Virtually rejecting demands from within United Progressive Alliance and outside for rollback of foreign direct investment in retail, Prime Minister Manmohan Singh on Tuesday justified the decision as a well considered move.
Bharti Walmart is a 50:50 joint venture set up in 2007 between Bharti Enterprises and Walmart and is engaged in wholesale cash and carry trade.
In the midst of the debate on foreign direct investment versus national security, finance ministry has opposed any restriction on flow of investment from any specific country and said a case-by-case scrutiny should address such concerns. \n
The Opposition in the Rajya Sabha on Wednesday vociferously opposed any move to allow Foreign Direct Investment in general retail trade and demanded a full discussion on the issue.
The government does not propose to permit foreign direct investment in retail business, Commerce Minister Arun Shourie assured the Lok Sabha on Monday.
Foreign direct investment (FDI) in India's aviation sector is long overdue; the Cabinet should back Mr Singh's decision -- which was taken following a meeting with Finance Minister Pranab Mukherjee, Petroleum Minister Jaipal Reddy and Commerce Minister Anand Sharma.
The UK's 697 projects created a 1.4 per cent rise in foreign direct investment jobs to 30,311.
The Union Cabinet on Thursday approved the extension by four months, the deadline for telecom companies to comply with guidelines on Foreign Direct Investment.
With regard to foreign institutional investors, the survey said that there are signs that FIIs who had recorded net outflows in 2008-09 may have returned to the Indian market in the last two months.
The outbound FDI is also expected to increase, resulting in net FDI inflow of $24 billion.
The Union Cabinet in its decision of November 24, which has since been put on hold, permitted 51 per cent FDI in the multi-brand retail, well above expectations of the Walmart and its Indian joint venture partner -- Bharti Group.
Leader of Opposition in the Lok Sabha Sushma Swaraj on Monday demanded that the United Progressive Alliance government convene an all-party meeting over the issue of Foreign Direct Investment in retail before making any statement on it in the Parliament.
USTR has said India imposed several barriers in major services industries such as insurance, banking, audiovisual, accounting, legal, telecommunications, distribution services, postal and express delivery services.
The government on Friday said that the realisation rate of foreign direct investment inflows into India has been the highest in 2002 since 1991 at 191.08 per cent in rupee terms.\n\n\n\n
The Indian government on Wednesday permitted owners of the daily foreign newspapers to make 100 per cent FDI (foreign direct investment) in their facsimile editions published in India.
A ministerial panel on Thursday urged the government to raise foreign direct investment caps in a host of sectors including telecom, petroleum and civil aviation as part of a move to liberalise the economy.
The government said on Thursday said it will make it clear within 10 days whether foreign players be allowed to hold stake in stock exchanges or not.
India's foreign direct investment inflows during the calendar year 2002 increased by a mere 3.5 per cent at $4.43 billion despite the government's continued efforts to liberalise the economy.\n\n\n\n
FIPB rejects proposals from firms that have not divulged details of beneficial ownership or source of funding
The decision is likely to bring in at least Rs 5 lakh crore of fresh investments into the sector over five years by improving connectivity and competition
In a sudden turn of events, the Centre has decided to put on hold the controversial decision about FDI in retail sector, in an apparent bid to break the Parliament logjam. West Bengal Chief Minister Mamata Banerjee, whose party Trinamool Congress is strongly opposed to the decision, claimed on Saturday that Union Finance Minister Pranab Mukherjee spoke to her and told her that the FDI decision has been "suspended".
In India, these global retailers exported goods worth $725 million in 2010. Modern retail constitutes 6.5 per cent of the $435-billion overall Indian retail market.
The government on Wednesday said provisions of Press Note 2 (2005 series), which allowed 100 per cent foreign direct investment in townships
Broad consensus is emerging within a Group of Ministers chaired by finance and external affairs minister Pranab Mukherjee on a proposal seeking comprehensive changes in the foreign direct investment policy. This includes scrapping automatic approval in sectors that have FDI limits and in which ownership or control is shifting to a foreign company, and a new definition for calculating indirect foreign equity.
Internet shutdowns by law enforcement agencies like the one in Manipur and Punjab cost $1.9 billion to the Indian economy in the first half of 2023, a report said on Thursday. The shutdowns also led to a loss of nearly $118 million in foreign investment and triggered over 21,000 job losses, the global non-profit Internet Society said in its report 'Netloss'. The non-profit arrived at the financial impact of the shutdown going beyond the loss of output and included factors like change in the unemployment rate, Foreign Direct Investment (FDI) lost, risks of future shutdowns, population in the working age etc.
India on Tuesday mooted a marketing policy for the sector though domestic players opposed any move to allow overseas investments in the retail space.
CPI leader D Raja also attacked govt for going back on its assurance to hold consultations with all stakeholders.
Director P Sheshadri talks abut his new film.
The Bharatiya Janata Party on Sunday criticised Prime Minister Manmohan Singh's remarks that those who oppose Foreign Direct Investment in retail are "ignorant", saying it is not the Opposition which is ignorant, but the United Progressive Alliance government and the Congress Party.
During Abe's tenure, Japan had announced support for a number of major projects. These included the bullet train project between Mumbai and Ahmedabad, besides allocations for a freight corridor between Mumbai and New Delhi.
Amid a debate within the government on allowing foreign direct investment in multi-brand retail, the nodal consumer affairs ministry is insisting on a foreign direct investment cap of 49 per cent in the sensitive sector, sources said.
