Page 11 - Fdi

Space industry seeks liberal FDI policy, PLI scheme in Union Budget

India's nascent space sector has sought a liberal FDI policy on a par with the defence industry and production-linked incentive in the interim Budget that the government will present next week. The industry body Indian Space Association (ISpA) has also sought GST exemption for satellites, launch vehicles and ground equipment manufacturing, lower tax rates for external commercial borrowings and reduction of satellite sector withholding tax from 10 per cent to two per cent, given the low profit margins. "Our expectation is for enabling a more liberal FDI (foreign direct investment) policy in the space sector. As of now, even one per cent of FDI has to go through the government approval route and that takes months and months," Awais Ahmed, founder and CEO of Pixxel, a Bengaluru-based start-up, told PTI. "The defence sector has 74 per cent FDI through the automatic route. Beyond that, you have to go for the government route. At least matching what is there for the defence side would be

Sebi may allow AIFs to 'exclude' investors from certain investments

Proposal will help address concerns about evergreening of loans

Reconfiguration of global trade and FDI

Third globalisation has seen slow but profound changes

India eyes $100 bn annual FDI in coming years: IT minister Vaishnaw

Foreign investors have bet big on India since Modi came to power in 2014, with the likes of Apple, Samsung, Kia, and Airbus expanding operations

Africa's biggest insurer Sanlam banks on India as its home market reels

India's $3.4 trillion economy is expanding almost five times quicker than Sanlam's home market, with the World Bank forecasting 6.4% growth this year

Davos 2024: India on cusp of FDI flood, says Bajaj Finserv's Sanjiv Bajaj

'Ten years of this growth we have seen, at least another five years of a strong majority government will end up institutionalising those policies to a fair extent,' Bajaj said in an interview in Davos

Supreme Court to hear stayed ruling on tax residency certificates in March

The Delhi High Court had in January 2023 said that TRC is sufficient for a foreign investor's claim to pay zero or lower tax under treaties between India and foreign jurisdictions

India's outward FDI nosedives to $2.25 billion in December: RBI data

Outbound FDI, expressed as a financial commitment, comprises three components: equity, loans, and guarantees

Outgrowing Apple

India must approach its industrial policy with a lighter and practical, reform-oriented touch instead of trying to deal with individual companies like Apple or Tesla

Tamil Nadu govt's 3rd Global Investors Meet set to begin on January 7

Tamil Nadu is all set to host the third edition of the Global Investors Meet, and the first one by the ruling DMK government, from Sunday with a galaxy of leaders set to participate in it. A host of representatives from several multinational companies, over 450 international delegates, and representatives from 50 countries are expected to attend the two-day event. The previous editions of the Global Investors Meet (GIM) were held in 2015 and 2019, when AIADMK was the ruling party, under the chief ministers late J Jayalalithaa and Edappadi K Palaniswami, respectively. The Ministry of Industries and Guidance Tamil Nadu--the state's investment promotion agency--, who are the organisers of the event, expect over 30,000 participants during GIM 2024 with Union Commerce Minister Piyush Goyal set to be part of the inauguration along with Chief Minister M K Stalin and his cabinet colleagues. "As the Tamil Nadu Global Investors Meet 2024 approaches, the air is thick with anticipation! With o

'Vibrant Gujarat summits helped state get $55 bn FDI in two decades'

The biennial Vibrant Gujarat Global Summit, being organised by the Gujarat government since 2003, coupled with years of carefully-planned strategies and thoughtful implementation has helped the state garner a cumulative foreign direct investment (FDI) of USD 55 billion between 2002 and 2022, officials said. The Vibrant Gujarat Global Summit (VGGS) has grown in tandem with the state economy, and since its humble beginning, it has proved to be a gateway for foreign investment in the state, industry leaders said. The 10th edition of the VGGS, based on the 'Gateway to the Future' theme, will be organised in Gandhinagar from January 10 to 12. Addressing a Vibrant Gujarat roadshow in Hyderabad last month, state's Minister of State for Micro, Small and Medium Industries Jagdish Vishwakarma said a testimony to Gujarat's FDI-friendly policies is the fact that many Fortune 500 companies have invested in the state. "Gujarat contributes 8.3 per cent, approximately USD 282 Billion, to India's .

PM Modi to inaugurate Vibrant Gujarat Global Summit on January 10

Prime Minister Narendra Modi will inaugurate the 10th edition of the Vibrant Gujarat Global Summit in Gandhinagar on January 10, an official said on Friday. The event will be held at the Mahatma Mandir Convention Centre in the state capital, he said. A day before the summit begins, the PM would also inaugurate the 'Vibrant Gujarat Global Trade Show 2024' at Helipad Ground near Mahatma Mandir on January 9, Additional Chief Secretary of Industries and Mines Department, S J Haider, said in a press conference. The PM will arrive in Gandhinagar on January 9, he said. "The 10th edition of the Vibrant Gujarat Global Summit will be held between January 10 and 12 in Gandhinagar and the PM will inaugurate the event on January 10. We are also organising 'Vibrant Gujarat Global Trade Show 2024' as part of the summit. It will also be inaugurated by the PM in the afternoon of January 9. The trade show will remain open till January 13," he said. The previous Vibrant Gujarat Summit was held in ..

Foreign investments into Indian bonds reached six-year high in 2023

The U.S. 10-year bond yield has fallen to around 3.85% on rate cut hopes, widening the spread with its Indian peer to 335 basis points from around 240 bps in late October

Maharashtra now preferred destination for overseas investments: CM Shinde

Maharashtra has become a preferred destination for investments from various countries, reflecting the state's conducive business environment, Chief Minister Eknath Shinde has said. Welcoming the New Year by participating in a midnight blood donation camp here, Shinde also spoke about the growing impact of the Swachh Bharat Mission initiated by Prime Minister Narendra Modi and the positive impact of a deep cleaning drive taken up in Mumbai and its extension across the state. The CM highlighted the successful implementation of 85 per cent of the Memorandums of Understanding (MoUs) signed during the Davos meet (in 2023). "Maharashtra has become a preferred destination for investments from various countries," he said. Underlining the commitment to people's welfare, Shinde said the Chief Minister's Relief Fund has provided assistance of over Rs 165 crore to more than 20,000 individuals since his government assumed office, a significant increase from the earlier disbursal of Rs 2 to 3 ..

Gujarat received FDI worth Rs 2.39 trn from Oct 2019 to March 2023

Gujarat has received foreign direct investment worth Rs 2.39 lakh crore or $31 billion between October 2019 and March 2023 and is among the top Indian states in attracting FDI, according to an official release. FDI in Gujarat has increased consistently over the years due to the efforts of the state government and the Vibrant Gujarat Global Summit (VGGS) has played a crucial role in achieving it, the release said. The 10th edition of the biennial VGGS is scheduled to be held in January next year in Gandhinagar. Officials said Gujarat is among the top investment destinations in the country and has received FDI worth Rs 2.39 lakh crore ($31 billion) from October 2019 to March 2023. The state saw a rise of nearly 84 per cent in FDI in 2022-23 compared to the previous year, which was the highest among all the states and Union Territories, as per the website of VGGS. Gujarat accounted for 30 per cent of the total Industrial Entrepreneur Memorandum or IEMs implemented (Rs 1.04 lakh crore

National e-commerce policy in final stages, may be announced soon: Goyal

The proposed national e-commerce policy being formulated by the commerce and industry ministry is in the final stages and expected to be announced very soon, Union Minister Piyush Goyal said on Thursday. In August, the Department for Promotion of Industry and Internal Trade (DPIIT) held a detailed discussion with representatives of e-commerce firms and a domestic traders' body on the proposed policy. "It is at the final stages of discussion at the highest level in the government. We hope to come out very soon," the commerce and industry minister told reporters here when asked about the policy. Earlier, the ministry issued two draft national e-commerce policies. The 2019 draft proposed to address six broad areas of the e-commerce ecosystem - data, infrastructure development, e-commerce marketplaces, regulatory issues, stimulating domestic digital economy and export promotion through e-commerce. Domestic traders body CAIT has time and again demanded roll out of the policy as they ..

India's private space industry seeks bold reforms, clarity on FDI

India's private space industry has sought bold and transformative reforms with clarity on the foreign direct investment to propel the nascent sector in the new year. The industry had welcomed the government decision, reflected in the Telecommunications Act approved by Parliament, to adopt the administrative route for allocation of satellite-based spectrum which would help bridge the digital divide by enabling space-based broadband internet access to remote parts of the country. Industry bodies Indian Space Association (ISpA) and Satcom Industry Association (SIA-India) have also asked the government to bring the Space Activity Bill for approval of Parliament to give statutory cover to the Space Policy announced earlier this year. "We expect the Space Activity Bill to be discussed in Parliament which will cover various factors of India's space goals, including insurance in space, international and national obligations, define offences and subsequent punishments, barriers of entry fo

Revitalising FDI

India will need to increase its appeal

FDI inflows can rise as India remains preferred investment destination

Foreign direct investments into India is likely to gather momentum in 2024 as healthy macroeconomic numbers, better industrial output as well as attractive PLI schemes will attract more overseas players amid geopolitical headwinds and tighter interest rate regime globally. To ensure that India remains an attractive and investor friendly destination, Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Rajesh Kumar Singh said the government reviews FDI policy on an ongoing basis and makes changes from time to time after having extensive consultations with stakeholders. In the January-September period this year, Foreign Direct Investment (FDI) into the country declined 22 per cent to USD 48.98 billion. The inflow was at USD 62.66 billion in the year-ago period. "However, we are broadly in line with the overall trends of FDI growth. FDI inflows from 2014-23 period is about USD 596 billion, which is about double than what India received during 2005-14. The trend i

Net FDI into India touches 21-month high at $5.9 billion in October

April-October 23 FDI declines to $10.4 bn