Page 6 - Latest Updates on FDI
Expecting FDI to increase to $100 bn per annum in coming years: DPIIT Secy
Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Amardeep Singh Bhatia said the department is also streamlining approval processes for FDI applications
 "Expecting FDI to increase to $100 bn per annum in coming years: DPIIT Secy")
Plan to open offices abroad to assist foreign investors: Piyush Goyal
This move reinforces India's commitment to deepening investment partnerships and making it easier for global investors to engage with India
 "Plan to open offices abroad to assist foreign investors: Piyush Goyal")
Net FDI in India rises to $5.5 billion in Apr-Jul 24, shows RBI data
Major source countries were Singapore, Mauritius, the Netherlands, US, Belgium and Japan
 "Net FDI in India rises to $5.5 billion in Apr-Jul 24, shows RBI data")
Harley-Davidson to Ford, foreign brands return to India with new script
Other foreign brands are also re-entering India or making fresh plans to capitalise on the opportunities the country offers
 "Harley-Davidson to Ford, foreign brands return to India with new script")
Best of BS Opinion: How to get FDI up 10 times, underutilised data, more
Here is the best of Business Standard's opinion pieces for today
 "Best of BS Opinion: How to get FDI up 10 times, underutilised data, more")
Why is FDI important for India's economic growth and development process?
To get a 10x gain in FDI, we need to solve the deeper issues. The problems in India are reminiscent of those seen in China, on a smaller scale
FDI inflows jump 47.8% to $16.17 bn in Apr-Jun on healthy services inflow
The data showed that overseas inflows in May rose to $ 5.85 billion and in June to $ 5.41 billion from $ 2.67 billion and $ 3.16 billion, respectively, in the year-ago period
 "FDI inflows jump 47.8% to $16.17 bn in Apr-Jun on healthy services inflow")
Eye on FDI, Centre to ask state govts for investment-friendly reforms
The Centre is currently engaging with various countries to boost FDI inflows, which dropped to $26.5 billion in FY24 from $42 billion in FY23
 "Eye on FDI, Centre to ask state govts for investment-friendly reforms")
Union Cabinet approves 12 industrial smart cities worth Rs 28,602 cr
These projects are expected to attract investment to the tune of around Rs 1.52 trillion with the potential of generating 10 lakh jobs
 "Union Cabinet approves 12 industrial smart cities worth Rs 28,602 cr")
Fema tweaks on the cards to allow FPIs to seamlessly access FDI route
This move comes in response to several requests from foreign investors seeking to simplify the reporting requirements they currently face when exceeding the 10 per cent threshold
 "Fema tweaks on the cards to allow FPIs to seamlessly access FDI route")
DPIIT floats note to seek distinction between online game of skill, chance
The official said that a clear distinction between the two is necessary to seek foreign investments as online game of skill has huge potential
 "DPIIT floats note to seek distinction between online game of skill, chance")
Remitting large amount abroad? Pay TCS, declare income accurately
Maintain detailed records of foreign remittances, including purpose, amount, and beneficiary details
 "Remitting large amount abroad? Pay TCS, declare income accurately")
Net foreign direct investment rises to $6.9 billion in Q1, shows RBI data
Manufacturing, financial services, communication services, computer services, and electricity and other energy sectors accounted for about 80 per cent of the gross FDI inflows
FDI in food processing sector down 30% to Rs 5,037 crore in 2023-24
FDI was Rs 6,414.67 crore in 2019-20; Rs 4430.44 crore in 2018-19; Rs 5,835.62 crore in 2017-18; Rs 4,865.85 crore in 2016-17; and Rs 3,312 crore in 2015-16 in the food processing sector
 "FDI in food processing sector down 30% to Rs 5,037 crore in 2023-24")
FDI in manufacturing rises 69% to $165 bn during 2014-24: Jitin Prasada
FDI equity inflow in the manufacturing sectors in the last ten financial years (2014-24) has increased by 69 per cent to $165.1 bn as compared to $97.7 bn in the previous ten financial years, MoS said
 "FDI in manufacturing rises 69% to $165 bn during 2014-24: Jitin Prasada")
Rupee nears 84 per US dollar tracking Asian peers, foreign outflows
RBI intervenes in off-shore, spot markets to curb volatility
 "Rupee nears 84 per US dollar tracking Asian peers, foreign outflows")
FDI from China better for local manufacturing boost: Niti member Virmani
As the US and Europe are shifting their immediate sourcing away from China, it is more effective to have Chinese companies invest in India
 "FDI from China better for local manufacturing boost: Niti member Virmani")
Strategic reforms can enhance India's appeal to global investors: GTRI
India attracted $44.4 billion in FDI (foreign direct investment) in FY2024, which is only 1.1% of its GDP
 "Strategic reforms can enhance India's appeal to global investors: GTRI")
Mid-tech FDI for job creation need of the hour: Business Standard panel
Panel stresses the need to keep import tariffs low and stable; says private sector required to create jobs as mentioned in Budget
 "Mid-tech FDI for job creation need of the hour: Business Standard panel")
No rethinking on support for Chinese for investments in India: Piyush Goyal
European Union has suggested India devise its own mechanism instead of paying carbon tax for imports, says Commerce Minister
 "No rethinking on support for Chinese for investments in India: Piyush Goyal")
