FDI

Govt. clears 12 FDI proposals worth Rs 822 crore

Govt. clears 12 FDI proposals worth Rs 822 crore

The Government of India has approved twelve Foreign Direct Investment (FDI) proposals amounting to Rs 821.63 crore, the Union Finance Ministry confirmed on Monday.

The Finance Ministry announced that the government cleared the proposals on the recommendations of Foreign Investment Promotion Board (FIPB).

A statement released by the ministry said, "Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on November 13, 2013, the Government of India has approved twelve proposals of Foreign Direct Investment (FDI) amounting to Rs. 821.63 crore."

Ministries in conflict over FDI cap in drug firms

Ministries in conflict over FDI cap in drug firms

India's finance ministry is in conflict with other ministries over the issue of foreign direct investment (FDI) cap in critical drugs sector.

Requesting anonymity, a senior official from the finance ministry revealed that the finance ministry is resisting pressure from the industry ministry and the health ministry to cap foreign ownership of domestic pharmaceutical firms fearing that any such move would hurt potential foreign investments in the sector.

Telecom Commission clears 100% FDI in telecom sector

Telecom Commission clears 100% FDI in telecom sector

The Telecom Commission, the uppermost decision-making body in the union telecom ministry, on Tuesday approved the proposal to allow full foreign control telecom firms.

A senior telecom official announced that the Telecom Commission cleared the proposal to hike foreign direct investment (FDI) limit in the sector to 100 per cent. Currently, foreign investors can own a maximum stake of 74 per cent in a telecom firm.

Govt. expected to clarify pharma FDI policy by July 10

Govt. expected to clarify pharma FDI policy by July 10

The government is expected to clear all doubts about the foreign direct investments (FDI) policy in the pharmaceuticals sector by early July, a senior government official said.

Speaking on the condition of anonymity, the official admitted that concerns on the FDI policy had been haunting the pharmaceuticals sector for a very long time.

Speaking on the topic, he added, "The department of industrial policy and promotion (DIPP), along with the health ministry and department of pharmaceuticals are expected to clarify the matter latest by July 10."

Future Retail shares fall on FDI guidelines clarification

Future Retail shares fall on FDI guidelines clarification

Future Retail shares slipped as much as 3.4 per cent in early trade on Friday after the government declared that foreign retailers entering India would not be allowed to buy existing assets; rather they would have to invest in new supply infrastructure.

The clarification reduced prospects that foreign retailers like Wal-Mart, Carrefour and Tesco would buy Indian companies or some of their assets.

As of 9:21 a. m., shares of Future Retail were trading at a loss of 2.3 per cent, while the broader Nifty was down just 0.2 per cent.

6th Edition of Consolidated FDI Policy Circular gets Active

6th Edition of Consolidated FDI Policy Circular gets Active

A number of changes have been included in the revised consolidated FDI guidelines. It has been said that the government has revised the FDI guidelines in order to simplify them.

Some of the many changes that have been included in the FDI are information about the inflow of multi brand inflow, approval for Pakistan nationals and businesses to invest in the country. Alterations in the single brand retail sector have also been introduced; civil aviation, broadcasting and power exchanges have also been made in the revised guidelines.

Government hasn’t rolled back 51% FDI in retail decision: Commerce minister says

Government hasn’t rolled back 51% FDI in retail decision: Commerce minister says

The government has just suspended its decision on allowing foreign direct investment (FDI) in retail sector for the time being and not rolled back, Commerce & Industry Minister Anand Sharma confirmed on Monday.

The minister's confirmation came following his meeting with high-flying business leaders, including Bharti group chairman Sunil Bharti Mittal, JK Paper's managing director Harsh Pati Singhania, HSBC chief Naina Lal Kidwai FICCI and Sunil Kant Munjal of the Hero Group.

Traders observing Bharat bandh as a protest against FDI in retail

Traders observing Bharat bandh as a protest against FDI in retail  Indian traders are observing Bharat bandh (nationwide shutdown) by keeping their shops shut on Thursday as they are protesting the government's decision to allow foreign direct investment (FDI) in retail sector.

Narender Madan, chief of Delhi unit of Confederation of All India Traders (CAIT), claimed that the all-India bandh has the backing of a large number of traders.

Union Cabinet likely to approve FDI in multi-brand retail today

Sunil KashyapIn what will be a potential move to allow bigwig global chains like Walmart, Tesco and Carrefour to open outlets in India via joint ventures with Indian companies, the Union Cabinet appears to be set to give its approval to 51 percent foreign direct investment (FDI) in multi-brand retail, as well as do away with any cap for single-brand retail.

Ministerial panel to decide on FDI in retail

Ministerial panel to decide on FDI in retailA panel formed by Manmohan Singh in February constituted of various ministers proposes to allow FDI in the retail sector to control the inflation.

The panel has suggested foreign investments to be introduced in multi-brand retail at the earliest.

Along with this they also promote reforms in agriculture marketing laws to strike down the gap between farm gate and retail prices to contain inflation.