Ramesh Menon, the veteran journalist suggests Prime Minister Narendra Damodardas Modi what he should do if he wants to win 2024 Lok Sabha elections.
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.
The inflows were $1.08 billion foreign direct investment in the same month last year.
The bank would take a call on the subject once the laws are amended to hike foreign direct investment in insurance sector from 26 per cent to 49 per cent, ICICI Bank CEO and managing director Chanda Kochhar told PTI. This would help create value for the stake holders, she clarified while pointing out that ICICI Bank's share price had increased three times in the last six months to about Rs 750 a share.
It also said that there is a need to improve investor confidence about the surrounding ecosystem in the country to attract more FDI inflows.
Foreign Direct Investment (FDI) is critically important for India to become a $5 trillion economy, Deloitte CEO Punit Renjen said while noting that over two-fifths of the 1,200 business leaders surveyed in the US, UK, Japan and Singapore are planning additional or first-time investments in India. Referring to the survey, he said India continues to be "one of the most attractive" FDI destinations. "Despite the COVID-19 destruction, inflows hit a record high last year. "Business leaders, whom Deloitte surveyed, are preparing to make additional and first-time investments in India," Renjen said.
Limits and high taxes on FDIs have led to lesser investments in the Indian aviation sector.
In June this year the figure was at $2.58 billion. However, the total inflows during the April-July period contracted by about 15 per cent to $10.53 billion over the same quarter of 2008-09, because of accruals in the opening months of the fiscal. In the first four months of 2008-09 it was at $12.32 billion.
In big bang reforms, the Union Cabinet on Wednesday approved a relief package for the telecom sector that includes a four-year moratorium on payment of statutory dues by telecom companies as well as allowing 100 per cent foreign investment through the automatic route. Briefing reporters on the decisions taken by the Cabinet, Telecom Minister Ashwini Vaishnav said nine structural reforms for the telecom sector were approved. The definition of AGR, which had been a major reason for the stress in the sector, has been rationalised by excluding non-telecom revenue of telecom companies.
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For India to invoke "sovereign" or "state" immunity to safeguard its foreign assets, which are under threat of getting seized in the intensifying legal battle with Cairn Energy, may come with several riders. Experts point out that the Indian government has to first satisfy the French court that the properties or assets that are under consideration are being used to dispense the state's sovereign functions.
Since October, FPIs have sold over $26 billion worth of stocks, which is the largest selling ever seen in India, observes Akash Prakash.
The inflow in December 2008 is lower compared to $1.55 billion FDI the country received in the same month in the previous fiscal. The country has set a target of $35 billion for FDI in the current fiscal.
India is set to attract foreign direct investment of $40 billion in fiscal 2008-09 with overseas investors betting big on the manufacturing sector in the world's second fastest growing economy.
There has been a decline in foreign direct inflow from China in the last three years, with FDI coming down to USD 163.77 million in 2019-20, Minister of State for Finance Anurag Singh Thakur informed the Lok Sabha on Monday. Giving details of the total foreign direct investment (FDI) inflow from Chinese companies in India, he said, it was USD 350.22 million in 2017-18, while it declined to USD 229 million in the following year.
West Bengal Chief Minister Mamata Banerjee on Thursday criticised the Narendra Modi government over foreign direct investment in defence and railways, claiming a 49 per cent FDI cap in defence "will put a question mark" on the safety and security of the nation.
However, that could only be for sectors where 100 per cent FDI is allowed under the automatic route and pose no risk to national security.
Tech giant allowed to set up fully owned shops, with 30% local sourcing like everyone else.
Since arraignment under money laundering is a tougher offence, the CBDT hopes it will also overcome its dismal score sheet to prove satisfactorily to the courts that these cases were genuine ones of tax evasion.
Billionaire Mukesh Ambani's Reliance Industries has signed a pact to invest an undisclosed amount in a giant petrochemical hub being built in the UAE. The oil-to-telecom conglomerate will join the recently-formed Ta'ziz joint venture of Abu Dhabi state energy giant Adnoc and state holding company ADQ for developing the Ruwais Derivatives Park in western Abu Dhabi. A company statement said an agreement has been signed for Reliance to invest in the project but did not give details. Unconfirmed reports put the investment at about $1.5 billion.
Twitter can probably afford to wait it out. But would it have the moral courage to do so? asks Devangshu Datta.
RBI chief Raghuram Rajan said Asia's third-largest economy is being hampered by a drop in public and private investments.
Similarly, FDI from Cyprus too increased by about three-times to $879 million in the last financial year from $296 million in 2018-19.
The plan is to establish a consultative panel and appoint mediators to address various domestic issues, both at the central government and state levels.
The inflows came higher in March than in February of 2019-20 despite the lockdown for a week, reports Indivjal Dhasmana.
China will open up service sectors such as education, finance and culture for FDI to remain an attractive destination for overseas investment.
The UN Conference on Trade and Development (UNCTAD) said in a report on Monday that a lower but positive economic growth in India in the post-Covid-19 pandemic period and India's large market will continue to attract market-seeking investments to the country. The World Investment Report 2020 by UNCTAD said that India was the 9th largest recipient of FDI in 2019, with 51 billion dollars of inflows during the year, an increase from the 42 billion dollars of FDI received in 2018, when India ranked 12 among the top 20 host economies in the world.
India's national commodity exchanges will have to now wait longer for the government nod for foreign direct investment.
'Earlier-than-expected tapering from the US, followed by rate hikes, and locally, a potential third wave, which mimics the second wave in terms of severity.'
Very gradual fiscal consolidation glide path with looser-than-expected fiscal policy; good quality spending mix and reasonable assumption on fiscal math; and focus on privatisation, asset monetisation and long-term funding for infrastructure investments, according to Morgan Stanley, are the three key themes from the Budget 2021.
The government will draw up FDI guidelines for minor investors and set up an exclusive park for overseas units.
Maharashtra topped the chart in terms of attractiveness at sub-national level in a weighted index calculated on the basis of individual ranking provided by participants of Ficci FDI Survey 2006.
The probe is being conducted under various sections of the Foreign Exchange Management Act (FEMA) after the central probe agency recently received a communication from the commerce ministry seeking "necessary action" against e-commerce players like Amazon and Flipkart pertaining to certain multi-brand retail businesses and an observation made by the Delhi High Court in relation to Amazon.
The Commerce and Industry Ministry has circulated a draft Cabinet note for inter-ministerial consultations.
Yes Bank was the biggest gainer in the Sensex pack, rallying 3.79 per cent. It was followed by PowerGrid, Maruti Suzuki, IndusInd Bank and Axis Bank -- rising up to 2.85 per cent.
'We are most bullish on all aspects of the financial sector -- private sector banks, even one state-owned bank, insurance, mortgage finance, broking, wealth management, gold finance, etc.'
Foreign institutional investors are likely to be debarred from taking part in initial public offerings of stock exchanges, while foreign direct investment may be permitted even in pre-IPO stage.
Foreign direct investment to India is zooming. FDI inflows to the country during 2006-07 surged to a record $16 billion, according to the annual supplement of the Foreign Trade Policy unveiled on Thursday.
In January 2014, the country had received $2.18 billion FDI.
The session started on January 29 and was originally slated to end on April 8 but several members had urged Speaker Om Birla to end the session earlier as they focus on electioneering for the five assemblies.
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