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.
After declining for two months in a row, foreign direct investment (FDI) in India grew by 8 per cent year-on-year to $2.15 billion in January.
Tesco, which has a franchise agreement with Trent Hypermarkets for the latter's back-end operations, is believed to be interested in investing in those hypermarkets
In the recent past, government has taken a number of measures, including opening up of foreign direct investment in multi-brand retail and hiking foreign investment cap in the aviation sector, to boost economic growth and restore investor confidence.
The RBI has also referred alleged violation of the Foreign Exchange Management Act to the Directorate of Enforcement for investigation in regard to both Bharti Wal-Mart and e-commerce venture Flipkart Online Services.
India is the fourth destination for foreign direct investment just below the United States, China and Britain.
Foreign direct investment in retail and Teesta water sharing 'certainly on the list
The government wants to use the FDI victory impetus to clear the Companies Bill and those amending the banking and pension Acts.
Shares of Information technology companies extended losses for third day in a row
The Samajwadi Party and the Bahujan Samaj Party saved Dr Manmohan Singh's chair today; will they tug it away from under him tomorrow, asks T V R Shenoy.
The Indian government successfully got a bill on foreign direct investment in retail sector passed in Lok Sabha, despite stiff opposition.
Lone member of the Rajya Sabha from Mizoram Lalhming Liana on Friday said he would not support the United Progressive Alliance government when voting takes place in the upper house on Foreign Direct Investment in retail.
Expressing disappointment with the Samajwadi Party and the Bahujan Samaj Party's decision to abstain from voting on the issue of Foreign Direct Investment in multi-brand retail in the Lok Sabha, Leader of Opposition in Rajya Sabha, Arun Jaitley, on Thursday said that the Congress-led UPA is a lame-duck government dependent on costly support.
To thwart a revolt among Congress Members of Parliament from Telangana ahead of voting on the issue of Foreign Direct Investment in retail, the government has convened a meeting of political parties from Andhra Pradesh on December 28. Home Minister Sushilkumar Shinde said that he has given an assurance to MPs from Telangana region who met him earlier in the day.
Prime Minister Manmohan Singh on Monday reached out to Jayalalithaa-led All India Anna Dravida Munnetra Kazhagam to seek its support on the issue of foreign direct investment in multi-brand retail.
Foreign inflows, in August 2012, had declined by 20 per cent to $2.26 billion after registering an increase in July at $1.47 billion.
The Bahujan Samaj Party on Monday indicated that it will support the government in Parliament on the issue of Foreign Direct Investment, saying the fact that the Centre has not thrust the policy on states and the aim of keeping communal forces at bay will determine its stand.
Central bank sees ray of hope in govt's latest promises
The FEMA notification dealing with foreign direct investment in retail has to be passed by only one House of Parliament, Parliamentary Affairs Minister Kamal Nath has claimed belying the Opposition stand that the decision cannot be implemented if it falls in Rajya Sabha, where UPA lacks majority.
The Communist Party of India-Marxist would use "all options" available in the rules of business in Parliament to thwart government's attempts to implement foreign direct investment in retail, even as it welcomed the decision to hold debate on the issue in both Houses under rules entailing voting, a top leader said on Thursday.
The four-day logjam in Lok Sabha over foreign direct investment in retail ended Thursday with Speaker Meira Kumar allowing a discussion on the subject under a rule that entails voting.
An end to the ongoing logjam in Parliament on the issue of Foreign Direct Investment in retail on Wednesday appeared in sight, with the government giving enough hints that it has no problem over a vote on the issue. In an effort to break the impasse, Parliamentary Affairs Minister Kamal Nath, along with his deputy Rajiv Shukla, held a meeting with Leader of Opposition in Lok Sabha Sushma Swaraj and her Rajya Sabha counterpart Arun Jaitley.
With the Bharatiya Janata Party and the Left sticking to their demand for a discussion on Foreign Direct Investment in retail under a rule that entails voting, former United Progressive Alliance ally Trinamool Congress on Wednesday said it would take a stand only after Lok Sabha Speaker Meira Kumar took a decision, but ruled out voting in favour of the government.
Parliament failed to transact any business for the fourth day on Tuesday despite the government's efforts to break the logjam over the issue of Foreign Direct Investment in retail through an all-party meeting.
The Bharatiya Janata Party on Tuesday said that it will insist on a discussion on the foreign direct investment in retail issue under rules, which entail voting, and asked the government to give up its "adamant" attitude and "allow the House to function" by agreeing to the Opposition demand.
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
Brand name rule might be waived for Swedish major's mega investment proposal, indicates DIPP; final revision of its application likely by end-August.
The only way the Congress party will allow a vote on the motion on FDI in retail will be when it is certain that the numbers are in its favour, and for this it has been eyeing the Opposition stables
The storm over the issue of Foreign Direct Investment in retail refused to subside with the matter, along with quota in promotions for Scheduled Castes and Scheduled Tribes, paralysing proceedings in Parliament for the second day on Friday.
Eighteen of 30 product categories proposed by Swedish furniture major struck off.
Ten states and Union Territories have endorsed the Centre's decision to allow FDI in multi-brand retail, Minister of State for Commerce and Industry Jyotiraditya Scindia said on Monday.
With the Lok Sabha speaker's all-party meeting failing to break the logjam on Foreign Direct Investment in retail issue, Prime Minister Manmohan Singh has invited the top brass of main Opposition Bharatiya Janata Party for a dinner on Thursday to ensure smooth functioning of Parliament in the winter session.
In 1998 and 1999, the Indian government announced a number of reforms designed to encourage and promote a favourable business environment for investors.
Downplaying differences between the Congress and its United Progressive Alliance partner Trinamool Congress, Human Resource Development Minister Kapil Sibal on Friday squarely blamed the Opposition for the government's inability to get through the Lokpal Bill and Foreign Direct Investment.
With the government's swiftly dwindling numbers, the government managers would need to be on red alert as any emergencies and casualties may be the order of the day, says Renu Mittal
Amidst talk of a no-confidence motion or a vote on Foreign Direct Investment issue, the government on said that it was "not afraid" of facing any challenge in Parliament.
The issue of Foreign Direct Investment in retail is expected to generate a storm in the Winter Session of Parliament beginning next week, with the Left parties on Friday announcing their decision to move motions entailing voting to oppose the government's decision.
At a time when Bharatiya Janata Party and several other parties have also opposed FDI in retail, the Left leaders said they have appealed to all parties to support the motions in both Houses of Parliament.
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