Foreign direct investment into India grew by 28 per cent to USD 16.33 billion during the first quarter of the current fiscal, according to government data. Inflow of foreign direct investment (FDI) during April-June of 2018-19 stood at USD 12.75 billion.
Seeking to make India more attractive FDI destination globally, Sitharaman had said that government would examine suggestions of further opening up of FDI in aviation, media (animation) and insurance sectors in consultation with all stakeholders.
The government will soon consider a proposal of relaxing rules for complying with the mandatory 30 per cent local sourcing norms by foreign single brand retailers, official sources said.
Central Bureau of Investigation (CBI) on Wednesday has booked senior journalist Prannoy Roy and others in a new case against NDTV for alleged FDI violation, reports PTI.
India's leading private sector bank, HDFC has revised the rate of interest on Fixed Deposit (FD) amount below the amount of two crore rupees. These new changes in FD rates have come into effect from July 22.
Budget 2019-20: The American corporate sector on Friday hailed the maiden Budget of Finance Minister Nirmala Sitharaman, noting that it is not only inclusive but also attractive for foreign investments. President of US India Strategic and Partnership Forum (USISPF) Mukesh Aghi said the budget is inclusive and policy decisions are encouraging for American companies.
India's defence industry received foreign direct investment (FDI) of a meagre USD 2.18 million during 2018-19, the Parliament was informed on Wednesday.
"Investment was strong in manufacturing, communication and financial services -- the top three industry recipients," said the UNCTAD World Investment Report 2019 released on Wednesday.
The sector attracted FDI worth USD 6.7 billion in 2017-18. Services sector includes finance, banking, insurance, outsourcing, R&D, courier, tech testing and analysis.
Mukesh Aghi, president of US India Strategic and Partnership Forum (USISPF) said “this is not in the best interest of the Indian consumers”.
The report, however, said that with the USD 22 billion FDI, India just about managed to make it to the top 10 host economies receiving the most FDI during the period.
Currently, she said, there is a problem in collating foreign direct investment (FDI) data related to the defence sector.
CII President Rakesh Bharti Mittal noted that GST, reforms in Ease of Doing Business, FDI, labour, agriculture, and many other initiatives aimed at improving the overall investment climate.
The Integrated Logistic Action Plan is the need of the hour: Modi
In its draft report, the committee had said it was not an appropriate time to divest stake in Air India and that the airline should be given at least five years to revive.
Until now, Foreign Direct Investment up to 49 per cent was permitted under the automatic route
The Confederation of All India Traders said the move will facilitate easy entry of MNCs in the retail trade.
The Union Cabinet on Wednesday approved a proposal to allow 100 per cent Foreign Direct Investment (FDI) under automatic route for single brand retail trading.
Arun Jaitley is on a two-day visit to Singapore. The roundtable was jointly organised by the Ministry of Finance and the High Commission of India in Singapore.
Nearly 600 foreign companies are planning to invest a total of about $85 billion in India in projects that will create an estimated 7 lakh jobs.
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