India's move was attributed to the rising possibility of "opportunistic takeovers" of its companies by those in neighbouring nations, as the coronavirus pandemic wreaks havoc on the economy
Since the FDI notification was meant to restrict, than expand, the ambit of foreign investment, it was initially opposed by the finance ministry
Until now, Chinese investments were automatically allowed, similar to those from other nations, in all but 16 sectors, such as telecom, defence, and national security.
Aim is to curb 'opportunistic takeover' of Indian companies due to the current Covid-19 pandemic, new rules also apply to transfer of ownership of FDI
Govt should consider the suggestions made by DPIIT
The members of the association sustain their livelihood by selling goods of daily needs like biscuits, soft drinks, mineral water, cigarettes, bidi, pan etc
The exit plan from the lockdown is recommended after getting suggestions from a detailed interaction with various states and industry bodies, the letter said.
DPIIT's letter batted for the reopening of manufacturing units in a long list of sectors
Secretary in the Deparrment for Promotion of Industry and Internal Trade (DPIIT) Guruprasad Mohapatra said that with lot of follow ups on their issues, relaxations were given to them by the Home Minis
It also said the top solutions will be referred to the government and private stakeholders for further funding and deployment.
Grivances can be emailed to "controlroom-dpiit@gov.in" or informed through telephone (011-23062487). This number will be functional from 8am to 6pm
The FDI policy earlier permitted NRIs to take only 49 per cent stake in the airline
Mukesh Ambani's 18 big-ticket chemical projects help domestic industrial investment rise by 15.4 trn in 2019
In a report tabled in Parliament on Wednesday, the parliamentary standing committee on commerce said this trimming of funds would hurt trade promotion and export augmentation
Till now, FDI up to 49% was allowed in insurance intermediaries through the automatic route
The FDI policy earlier allowed 49% foreign investment in the insurance sector, which includes insurance intermediaries.
Piyush Goyal asked the industry to look for ways to expand the country's export basket by adding more value-added products and cut shipments of raw materials