India approved 98 FDI proposals from nations sharing border since April 2020
NEW DELHI: The government of India has approved 98 foreign direct investment (FDI) proposals from countries sharing land border with India since April 2020 out of 423 received from sectors including trading and electronics, Parliament was informed on Wednesday. Many of these proposals are from China, either directly or indirectly, Minister of State for Commerce […]
DPIIT to come out with revised FDI policy to facilitate LIC disinvestment
NEW DELHI: India’s commerce and industry ministry is making changes in the foreign direct investment (FDI) policy to facilitate disinvestment of the country’s largest insurer LIC, after taking views from the finance ministry, a top government official said on Thursday. Anurag Jain, secretary in the Department for Promotion of Industry and Internal Trade (DPIIT), said […]
India allows 100 per cent FDI through automatic route in telecom reforms
NEW DELHI: 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 […]
FDI in April up 60 per cent to USD 4.44 billion
NEW DELHI: Foreign direct investment (FDI) into India increased by 60 per cent to USD 4.44 billion in April as against USD 2.77 billion in the same month last year, government data showed on Wednesday. Total FDI, including equity, re-invested earnings and capital, rose 38 per cent to USD 6.24 billion in April this year, […]
Draft cabinet note floated for 100% FDI in oil PSUs approved for disinvestment: Sources
NEW DELHI: The commerce and industry ministry has floated a draft cabinet note seeking inter-ministerial views on a proposal to allow up to 100 per cent foreign investment under automatic route in oil and gas PSUs, which have an ‘in-principle’ approval for disinvestment, sources said. The move, if approved by the union cabinet, would facilitate […]
India’s FDI jumps 19 per cent to USD 59.64 billion in 2020-21
NEW DELHI: Foreign direct investments (FDI) into the country grew 19 per cent to USD 59.64 billion during 2020-21 on account of measures taken by the government of India on the fronts of policy reforms, investment facilitation and ease of doing business, the commerce and industry ministry said on Monday. Total FDI, including equity, re-invested […]
Rajya Sabha passes bill to raise FDI in insurance to 74 per cent
NEW DELHI: Rajya Sabha on Thursday approved a bill to raise the foreign investment limit in the insurance sector to 74 per cent with Finance Minister Nirmala Sitharaman saying while control will go to foreign companies, the majority of directors and key management persons will be resident Indians who will be covered by law of […]
India’s YoY FDI inflow rises over 11% in April-October to $46.8 billion
NEW DELHI: Foreign direct investments (FDI) into India have increased by over 11 per cent during the ongoing fiscal on a year-on-year basis, showed data from the Department for Promotion of Industry & Internal Trade (DPIIT). Total FDI worth $46.82 billion came in during April-October this fiscal, compared to $42.06 billion of inflow during the […]
Total FDI inflow during Q2 FY21 stands at $28.1 billion
NEW DELHI: The total foreign direct investment (FDI) during the second quarter of financial year 2020-21 stood at $28.10 billion, out of which FDI equity inflows were $23.44 billion. “This takes the FDI equity inflows during the financial year 2020-21 up to September 2020 to $30,004 million, which is 15 per cent more than the […]
April-September FDI inflow at $30 billion; Mauritius, Singapore top sources
NEW DELHI: With India being an attractive destination for foreign funds despite the pandemic, FDI inflow rose 15 per cent during the April-September period to $30 billion. During the same period last fiscal, total FDI inflow stood at $26 billion. According to data from the Department for Promotion of Industry and Internal Trade (DPIIT), Mauritius […]
CCEA nod to Rs 2,480 crore FDI in ATC Telecom
NEW DELHI: The government of India has approved a proposal involving foreign direct investment of Rs 2,480 crore by ATC Asia Pacific for purchasing about 12 per cent stock of ATC Telecom. The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi has approved the FDI proposal no. 4930 for acquisition of 12.32% […]
100% FDI in affordable rental housing soon: Hardeep Singh Puri
NEW DELHI: In a bid to resurrect from a continuous decline in the housing sales and revive the demand amid the worst hit Covid pandemic, the country’s real estate developers will soon offer over 2.70 lakh ‘ready – to – move – in’ houses for online sales to the homebuyers in a first and biggest […]
India hikes FDI in defence production to 74%; ban on imports of some weapons
NEW DELHI: In order to boost Make in India in defence production, Finance Minister Nirmala Sitharaman on Saturday said FDI limit in defence manufacturing will be hiked to 74 per cent from 49 per cent while some weapons and platforms will be banned for imports. Items banned for imports can only be purchased from within […]
Rahul Gandhi thanks Narendra Modi government for changing FDI norms after his warning
NEW DELHI:Congress leader Rahul Gandhi thanked the government on Saturday for amending the foreign direct investment (FDI) policy after his warning on takeover of Indian companies by foreign players during the COVID-19 crisis. “I thank the Government for taking note of my warning and amending the FDI norms to make it mandatory for Government approval […]
Restrictions on foreign e-commerce companies to hit FDI in India: US industry body
WASHINGTON: Expressing concern over India tightening restrictions on foreign e-commerce companies operating in the country, leading American industry advocacy groups have said that such a move would have a long-term negative impact on the foreign direct investment as well as consumers. Earlier this week, the government announced changes to the foreign direct investment policy for […]