Foreign direct investment (FDI) equity inflows in India declined 24 per cent to $20.48 billion in April-September 2023, dragged by lower inflows in computer hardware and software, telecom, auto and pharma, according to government data. FDI inflows stood at $26.91 billion during the first six months of the last fiscal. Inflows during January-March 2023 also contracted 40.55 per cent to $9.28 billion.
The sectors that received most of the investment during this period included manufacturing, financial services, business services, computer services, electricity, and other energy sectors.
Amidst panic in the stock market over double tax avoidance treaty with Mauritius, government on Monday said India "cannot impose arbitrarily" capital gains tax on investment routed through the island nation.
At a time when migrant workers from Bihar are under violent attacks in several states in their own country, a Mauritian firm has sent a proposal to the Bihar government seeking services of 500 ITI-trained hands.Filcon Cavra Limited, a company based in Mauritius, has sought the services of 500 youth with technical training from our state, deputy chief minister Sushil Kumar Modi, who holds the Labour portfolio said.
In a significant development towards renegotiation of tax treaty with Mauritius, the Finance Ministry has written to the Ministry of External Affairs to take up the issue of including more areas of information exchange in the agreement between the two countries.
The Reserve Bank of India's rather sudden and unilateral decision to discontinue the Asian Clearing Union, a move that effectively stops settlements in dollars and the Euro, will most impact Mangalore Refinery, which sources 60 per cent of its crude needs from Iran.
"First ladies from Turkiye, Japan, the UK, Australia and Mauritius, among others visited the exhibition at NGMA (National Gallery of Modern Art)," the source added.
Prime Minister Narendra D Modi will hold over 15 meetings with visiting leaders between Friday, September 8, 2023, and Sunday, September 10, 2023 during the G20 summit in Delhi.
Tusk Investment, Mauritius, a wholly owned subsidiary of private equity firm Elephant Capital, has sought approval from the Foreign Investment Promotion Board (FIPB) to acquire a 30 per cent stake in Amar Chitra Katha Pvt Ltd (ACK).
The CJI said there is an urgent need to emerge from the adjournment culture to a culture of professionalism.
Besides doubts relating to round tripping of investments through Mauritius, the proposal was earlier rejected on the ground that there were no details about the offshore entity.
Showing the effect of the slowdown in global economic activity, the equity foreign direct investment (FDI) into India declined sharply to $13.9 billion in April-July 2023 from $22.04 billion a year ago. The net FDI, inflows minus outflows, declined from $17.28 billion in April-July 2022 to $5.70 billion in April-July 2023 on account of moderating gross FDI and a rise in repatriation. Gross FDI into India moderated to $22.0 billion during April-July 2023 from $29.6 billion a year ago, according to Reserve Bank of India data.
The assurance came at a bilateral meeting between Mukherjee and German Finance Minister Wolfgang Schaeuble on the sidelines of the meeting of the G-20 Finance Ministers and Central Bank Governors that concluded in Paris on Saturday.
Armed with Rs 650 crore (Rs 6.50 billion) fund for acquisitions, Tata Group firm Indian Hotels Company said on Wednesday that it would open one Taj exotica resort in Mauritius.
India and Mauritius on Tuesday signed three memorandums of understanding during the three-day State visit of President Pranab Mukherjee. One MoU was on persons with disabilities and senior citizens, another on cooperation in the field of health and medicine, and the third was on cooperation in the field of tourism.
Bhumi holidays in London... Madhuri poses in Dubai... Mouni chases waterfalls...
Several Opposition leaders, including former Congress chief Rahul Gandhi, on Wednesday attacked the government over a media report claiming that a key Adani group investor is also co-owner with the conglomerate in a defence firm.
The summit is being attended by more than 30 heads of state and top officials from the European Union and invited guest countries and 14 heads of international organisations.
The Congress on Wednesday said the Supreme Court judgment on certain matters relating to transactions by the Adani Group has proven to be 'extraordinarily generous' to Securities and Exchange Board of India (SEBI) and asserted that the party's fight against crony capitalism and its ill-effects on prices, employment and inequalities will continue.
Saris were in vogue at the dinner President Droupadi Murmu hosted for G20 leaders on Saturday evening and earlier as well on Saturday morninbg when Kyoko Jaishankar, External Affairs Minister Subrahmanyam Jaishankar's wife, hosted the leaders's spouses in New Delhi.
McDowell & Company Ltd has informed BSE that Asian Opportunities & Investments Ltd in Mauritius has become a Wholly-Owned Subsidiary (WOS) of the Company.
Tiger feels skinny... Patra goes retro... Shehnaaz's beach vibe...
Central probe agency likely to file third chargesheet in some weeks, may name Datacom, Loop Telecom.
Japanese conglomerate Softbank's arm SVF Doorbell (Cayman) on Wednesday divested 3.8 per cent of its stake in supply chain company Delhivery for Rs 954 crore through open market transactions. Saudi Arabian Monetary Authority, City of New York Group Trust, Societe Generale, BNP Paribas Arbitrage, Morgan Stanley Mauritius, Baillie Gifford Emerging Markets Equities Fund were among the buyers of shares.
'India should respect Maldivian nationalism and their desire to be not over-dependent on India.' 'India should not behave like a big brother towards Maldives as many times, we tend to behave like that.'
Sushmita goes pink... Neha wishes Angad...Karan celebrates his birthday...
Gandhi also said such controversies seem to play out every time his party raises concerns of "crony capitalism".
Right now there are five Hindus occupying the top job in the world. Rishi Sunak will be the sixth.
Prime Minister Narendra Modi and US President Joe Biden are set to hold bilateral talks on Friday evening with a focus on further solidifying the India-US comprehensive global and strategic partnership.
The agency had received Rs 946.51 crore to manage its affairs in the Budget Estimates for 2023-24, which was later increased to Rs 968.86 crore in the Revised Estimates.
The first summit in South Asia, it will host the largest delegation of 43 heads of State and government as well as the heads of international organisations.
The actor, who has been shooting for Shehzada in Mauritius, took some time out to get all touristy.
Independent Mobile Infrastructure Mauritius Ltd, a telecom infrastructure provider, has sought the Foreign Investment Promotion Board's approval for investing up to Rs 3,000 crore ($674 million) in India.
Aditya-L1 is the first Indian space-based observatory that will study the Sun from a halo orbit around the first Sun-Earth Lagrangian point (L1), which is located roughly 1.5 million km from the Earth.
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