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The Delhi high court Wednesday sought response of Kishore Biyani-led Future Retail Ltd (FRL) on Amazon’s plea challenging the prima facie observations by a single judge that the US e-commerce giant’s attempt to control the Indian entity was violative of FEMA and FDI rules.

China on Wednesday expressed its “deep concern” over the recent foreign direct investment (FDI) policy changes initiated by the government, alleging that it curbs takeovers and acquisitions of Indian companies. In April, India had decided to review every FDI proposal from a neighbouring country, a move that was targeted at Chinese investment in India.

The government has received over 120 foreign direct investment (FDI) proposals worth about Rs 12,000 crore from China since April, when it was made mandatory for a company from countries sharing land border with India to invest in any sector only after getting government approval, sources said.

Reliance Industries chairman Mukesh Ambani credited Facebook founder and CEO Mark Zuckerberg for triggering an “FDI avalanche” in India in the middle of the lockdown through the $5.7-billion investment he made in Jio Platforms even as Zuckerberg, the global social-media czar, thanked Ambani for Jio’s partnership, terming it as one of the “biggest opportunities” for … Continue reading You started ‘FDI avalanche’: Ambani to Zuckerberg

Foreign direct inflows went up almost 15% during the first half the current financial year. The period also saw Mauritius slip to the fourth spot as the preferred source to route funds into India with the US and tax haven Cayman Islands overtaking it.

The traders’ body in a letter to commerce minister Piyush Goyal alleged that the online retailer has not sought the government’s approval for conducting multi-brand retail activities in India and demanded action and imposition of maximum penalty against the company.

Traders’ body CAIT on Tuesday raised objections over Aditya Birla Fashion and Retail’s plans to raise Rs 1,500 crore by issuing 7.8 per cent stake to Walmart-owned Flipkart Group, alleging that the proposed deal violates the government’s FDI policy.

Foreign direct investment (FDI) in India has increased by 16 per cent year-on-year to $27.1 billion during April-August this year, the commerce and industry ministry said on Tuesday. During April-August last year, India had received FDI worth $23.35 billion.

FDI proposals with even minuscule Chinese holding will need govt approval, with the Centre abandoning its earlier plan to set a floor for “significant beneficial ownership”. A threshold for “significant beneficial ownership” was meant to ensure that Chinese companies did not enter India via third countries such as Singapore or Mauritius.

The department for promotion of industry and internal trade said that entities covered by these guidelines will get a year to align their operations in line with the current guidelines.

With an eye to attract more investment and boost domestic economic activity, the Centre is eyeing further easing of foreign direct investment rules, in addition to pushing reforms in mining, banking and capital market sectors, commerce and industry minister Piyush Goyal said. The statement comes at a time when the govt is working to wean … Continue reading To wean business away from China, eased FDI norms likely

A section within the government is of the view that the Centre must adopt tough measures against China over the border standoff and act against Beijing’s interests in areas that do not add value to India’s economy, but ensure that investments critical for accelerating growth should not be derailed.

India needs FDI worth Rs 50 to 60 lakh crore and the money can be tapped mainly through infrastructure projects as well as MSME sector to accelerate the wheels of coronavirus-hit economy, said Nitin Gadkari. Economic activities have been significantly disrupted in the wake of the pandemic and subsequent lockdowns imposed to curb spreading of … Continue reading ‘India needs Rs 50-60L cr FDI to boost economy’

The government is keeping close tabs on foreign direct investment (FDI) and portfolio flows from neighbouring countries, especially China. At the same time, it is in talks with over 600 global investors for possible investment in the country, commerce and industry minister Piyush Goyal has said.

India’s FDI inflows, including reinvested earnings, rose 18% to a record $73.5 billion during 2019-20, buoyed by a spurt in inflows into computer hardware & software, telecom, and hotel & tourism, while services, the traditional mainstay, witnessed a decline.

Foreign direct investment (FDI) in India grew by 13% to a record of $49.97 billion in 2019-20, according to official data. Sectors which attracted maximum foreign inflows include services ($7.85 billion), computer software and hardware ($7.67 billion), telecommunications ($4.44 bn), trading ($4.57 bn), automobile ($2.82 bn), construction ($2 bn), chemicals ($1 bn).

The government has begun consultations with stakeholders on ways to step up foreign investment into the country, with commerce and industry minister Piyush Goyal launching discussions with investment bankers, consulting agencies and law firms.

Days after tweaking FDI rules, India on Thursday said no country should be worried about the new regulations. China has strongly objected to the change in rules, which makes it mandatory for countries sharing land boundary with India to invest through the government route.

A day after China’s outburst over the change in foreign direct investment policy, India on Tuesday hit back at its neighbour, saying the amendment did not violate any global commitment as it did not bar investments from across the border but only mandated prior screening of proposals.

FDI into India may see greater scrutiny

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India is considering closer scrutiny of foreign direct investment in sectors crucial to national security, a top government official said, as the country looks to tighten oversight amid growing unease about China’s acquisition of tech assets.

The department of telecom has approved raising of foreign direct investment in Bharti Airtel to 100% from existing 49%, a move that is expected to give flexibility to the loss making company in raising foreign funds. The company also has received an approval from the RBI that allows foreign investors to hold up to 74% … Continue reading Government clears 100% FDI in Bharti Airtel

The department of telecom (DoT) has approved raising of foreign direct investment in Bharti Airtel to 100 per cent from 49 per cent allowed earlier, a stock exchange filing of the company said on Tuesday. The company also has the approval of the Reserve Bank of India that allowed foreign investors to hold up to … Continue reading Govt approves up to 100% FDI in Bharti Airtel