As many as five sectors including defence, ports and coal have failed to attract any foreign direct investments during the April-December period of the current fiscal, Parliament was informed today. The other two segments which were not able to attract the foreign inflows are - photographic raw film & paper and coir, according to the data shared by Commerce and Industry Minister Nirmala Sitharaman in a written reply to the Lok Sabha. Barring defence industries, the other four sectors had not received any FDI in 2015-16 either. Last year, the government relaxed FDI norms in several sectors including defence. India imports 70 per cent of its military hardware from different countries. As per the current policy, foreign investment beyond 49 per cent has been permitted in the defence sector through the approval route in cases resulting in access to modern technology in the country or for other reasons. However, the sectors which have attracted maximum FDI in the April-December ..
This can mean companies like Apple, Zara can sell in India through wholly-owned subsidiaries
MoS Jayant Sinha said that Ministry has not yet received any formal application from any airline
Foreign investments in the services sector increased 77.6 per cent to USD 7.55 billion in the first nine months of the current fiscal, helped by government steps to improve ease of doing business. The sector, which includes banking, insurance, R&D, outsourcing, courier and technology testing, had received foreign direct investment (FDI) worth USD 4.25 billion during the April-December period of last fiscal, 2015-16, according to the Department of Industrial Policy and Promotion (DIPP). The sector contributes over 60 per cent to India's GDP and accounts for 17 per cent of total foreign investment inflows. The other sectors where inflows have recorded growth during the nine month period of 2016-17 are: telecom (USD 5.54 billion), trading (USD 2 billion), computer software and hardware (USD 1.81 billion) and automobile (USD 1.45 billion). In step FDI growth in important sectors like services, overall foreign inflows in the country increased 22 per cent to USD 35.84 billion during
FDI inflows into India firmed up by 22 per cent to $35.85 billion during April-December 2016
The focus is to supply-chain related infrastructure, such as cold storage, abattoirs and food parks
RBI is the nodal agency for administration of foreign investments and foreign exchange
The country attracted FDI of $39.32 billion in 2015
UK is the single largest G20 investor in India, and supports close to 800,000 jobs
15 of 24 FDI proposals were approved while three were rejected, say sources
Dismantling the FIPB is the first step on the road to rationalising the FDI regime
$246 mn came in the form of equity money; $484 mn accrued from loans
Sitharaman said to promote foreign direct investment, govt has put in place an investor-friendly policy
Cumulative inflows at $32.49 bn in April-November of FY 17, up 31% from $24.81 bn a year ago
FIPB processes proposals for foreign direct investments in India
Government has announced the abolition of the Foreign Investment Promotion Board in Budget 2017
DIPP, which is under the Ministry of Commerce and Industry, is the nodal agency on FDI policy
Experience with Apple has govt mulling over setting norms for providing investment benefits
The issue to ease the FDI policy in the sector is under discussion
During 2015-16, foreign direct investment (FDI) in country increased by 29% to $40 billion