Foreign Investments

  • Aircel-Maxis case: CBI planning to question Finance Ministry officials August 17, 2014

    New Delhi: CBI is mulling questioning some officials of the Finance Ministry who were part of Foreign Investment Promotion Board (FIPB) clearance process given to Aircel-Maxis deal even as it plans to file the first charge sheet in the matter this week. Making it clear that no suspects have been identified...
  • India likely to announce foreign investment in e-commerce next month: Sources June 4, 2014

    New Delhi: Prime Minister Narendra Modi's government could allow foreign direct investment in India's e-commerce sector as early as next month, paving the way for global online retailers such as Amazon to expand their business, four people with knowledge of the matter told Reuters. A more robust online retail sector will...
  • Morgan Stanley keen to start proprietary trading in India December 25, 2013

    Indian brokerage arm of global investment banker Morgan Stanley has sought RBI's approval to start proprietary trading under which it will be able to buy and sell securities on its own account. The application of Morgan Stanley is pending with the Reserve Bank as there is no clarity on whether foreign...
  • Ministry of Home Affairs may give clearance to Vodafone's FDI proposal soon December 19, 2013

    The Ministry of Home Affairs is likely to give clearance to Vodafone's Rs 10,141 crore foreign investment proposal to buy out minority shareholders in its Indian arm. The Foreign Investment Promotion Board (FIPB) had last week deferred Vodafone's proposal as the MHA was yet to give its comments. "The MHA will...
  • India approves 20 FDI proposals worth $146 million November 20, 2013

    The Foreign Investment Promotion Board has approved 20 foreign direct investment proposals worth 9.16 billion rupees, a finance ministry statement said on Tuesday. The board also recommended private sector Federal Bank's foreign investment plan amounting to 14 billion rupees to the cabinet panel, the statement said. ...
  • Govt relaxes FDI norms in several sectors to boost sagging economy August 1, 2013

    New Delhi: Opening the floodgates to overseas investors, the government on Thursday relaxed investment norms in multi-brand retail and raised FDI caps in several sectors while making it 100 per cent in telecom. The Cabinet headed by Prime Minister Manmohan Singh diluted the mandatory 30 per cent local sourcing norms...
  • FIPB to discuss Rs 2,058 crore Jet-Etihad deal today July 29, 2013

    New Delhi: The Foreign Investment Promotion Board (FIPB) on Monday will discuss the contentious Rs 2,058 crore Jet-Etihad deal. The FIPB had earlier deferred approval to the deal on the basis of certain provisions in the previous shareholders' agreement and commercial cooperation agreement, which it said gave more powers to...
  • 'FDI inflows to India down 29 per cent in 2012' June 27, 2013

    Geneva: Low investor sentiment, a slowing economy and high interest and inflation rates have dented India's image as a preferred foreign investment option. The country received 29 per cent less FDI inflows in 2012, the UN Conference on Trade and Development said on Wednesday. The UNCTAD World Investment Report 2013 said...
  • SEBI approves overhaul of foreign investment rules June 25, 2013

    Mumbai: The Securities and Exchange Board of India (SEBI) approved an overhaul of rules for foreign investors, including easing registration procedures and simplifying categories, in a bid to attract vital flows needed to narrow a record high current account deficit. The SEBI approved the rules at its board meeting on...
  • Govt panel for hiking FDI limits in defence, telecom June 19, 2013

    New Delhi: A government panel on Tuesday proposed raising foreign investment limits in sectors like defence, multi-brand retail and telecommunications, to spur investment in the country and tide over the Current Account Deficit woes. "We have submitted the report to the Finance Minister. Action will be taken on it as...
  • Telenor gets FIPB nod for hiking stake in Uninor June 14, 2013

    New Delhi: Government on Friday allowed Norwegian telecom firm Telenor to increase stake in its Indian arm from 49 per cent to 74 per cent at an estimated equity infusion of around Rs 934 crore. "Telenor proposal has been approved," Economic Affairs Secretary Arvind Mayaram said after the meeting of...
  • FIPB defers decision on Jet Airways-Etihad deal June 14, 2013

    New Delhi: The Foreign Investment Promotion Board (FIPB) has deferred a decision on Gulf carrier Etihad Airways' planned 24 per cent stake buy in Jet Airways, the country's economic affairs secretary said on Friday. The board has sought more details on "effective control" and ownership, Arvind Mayaram said. After the FIPB,...
  • The fundamentals for India are improving, says Raghuram Rajan June 11, 2013

    The Finance Ministry said that it will take steps to increase foreign investment flows into the country to strengthen the depreciating rupee. ...
  • Finance Ministry to take steps to strengthen rupee at right time June 11, 2013

    New Delhi: The Finance Ministry on Tuesday said it will take steps to increase foreign investment flows into the country to strengthen rupee and the regulators will act at appropriate time to contain the fall in domestic currency that touched a record low of 58.96 to a dollar. "We will continue...
  • Govt clears 8 FDI proposals worth Rs 696 crore May 31, 2013

    New Delhi: The government on Friday said it has approved eight FDI proposals worth Rs 696 crore, including those of ACME Solar Energy, GETIT Infoservices and McKinsey & Company. The Foreign Investment Promotion Board (FIPB) cleared the proposal of ACME Solar Energy to bring in foreign investment worth Rs 275 crore,...
  • Committed to hard decisions to promote growth: PM May 28, 2013

    Tokyo: Committing himself to 'hard and difficult' decisions for long-term interest of the economy, Prime Minister Manmohan Singh on Tuesday expressed confidence that the economy will return to the growth path of 8 per cent. Inviting Japanese investments in the infrastructure sector, he told captains of industry here that a target...
  • FIIs invest Rs 12,000 crore in stock market May 19, 2013

    New Delhi: Overseas investors have poured in nearly Rs 12,000 crore (about USD 2.2 billion) into the Indian equity market so far this month. With this, the total foreign investment in the country's equity market has reached Rs 73,029 crore (USD 13.5 billion) since January. During May 2-17, foreign institutional investors...
  • India needs open foreign investment rules: Lord Swraj Paul April 8, 2013

    New Delhi: Advocating an open set of rules for overseas investors, NRI industrialist Lord Swraj Paul has said that India should just specify the level of permitted foreign investment in each sector and let the companies accordingly invest without any individual approval procedures. Terming the current economic problems as a...
  • Chidambaram to visit Japan to woo investors March 31, 2013

    New Delhi: After selling India story to investors in Hong Kong, Singapore and Europe, Finance Minister P Chidambaram is leaving for Japan on Monday to attract foreign investment. Chidambaram would meet his Japanese counterpart and institutional investors during his three-day official visit to Japan, sources said. The Finance Minister will be...
  • IKEA goes local; expects to open stores in India in 4 to 5 years March 7, 2013

    Malmo: Without a willingness to lug cheap flat-pack wardrobes home and wrestle with self-assembly, there would be no IKEA, but in Asia, where the locals have other ideas, the Swedish furniture giant thinks it still has a bright future. As it expands in China and prepares to break into India,...
  • IKEA's Rs 10,000 crore investment gets FIPB nod January 21, 2013

    New Delhi: The Foreign Investment Promotion Board (FIPB) has given approval to Rs 10,000 crore investment proposal of Swedish furniture major, IKEA. The company will now be able to sell all its products and set up cafeterias at its retail stores. The FIPB, which is the nodal agency for approving foreign...
  • FDI inflows jump 65 per cent to $ 1.94 bn in October December 21, 2012

    New Delhi: India's foreign direct investment (FDI) inflows grew by over 65 per cent year-on-year to USD 1.94 billion in October, according to the Department of Industrial Policy and Promotion (DIPP). In October 2011, the country had attracted FDI worth USD 1.16 billion. For the April-October period of this fiscal, however,...
  • Govt clears IKEA's proposal to invest in single-brand retail November 20, 2012

    New Delhi: Government's single-window body to clear foreign investment proposals, FIPB, on Tuesday cleared Swedish furniture major IKEA's Rs 10,500-crore project, the largest FDI in single-brand retail so far. The Foreign Investment Promotion Board (FIPB) has approved the proposal of IKEA, Economic Affairs Secretary Arvind Mayaram said after the board...
  • FDI in aviation hits a roadblock as TMC seeks talks August 23, 2012

    New Delhi: Congress ally, the Trinamool Congress, has yet again forced the ruling coalition to put another of its key economic proposal envisaging 49 per cent FDI in aviation on hold. Trinamool Congress Chief Mamata Banerjee on Wednesday sought more consultations on the proposed plans, giving a big jolt to the...
  • Centre firm on FDI in multi-brand retail: Sources July 23, 2012

    New Delhi: The government is firm on notifying FDI in multi-brand retail, sources said on Monday. "The government will not nix plan due to opposition," they said. Commerce Minister Anand Sharma is expected to reach out to Uttar Pradesh Chief Minister Akhilesh Yadav, one of the most vocal amongst the opponents...
  • PM's retail FDI push calls for simpler clearance July 19, 2012

    New Delhi: Days after US President Barack Obama pushed him on reforms, Prime Minister Manmohan Singh on Thursday made the first step to speed up project clearances. The PMO ordered simpler security clearance for projects and set up a Project Clearance Board under the Cabinet Secretary. The Board will review and issue...
  • 2G: Govt cites Obama, asks SC to review order July 17, 2012

    New Delhi: The government on Tuesday cited US President Barack Obama's recent criticism of the investment climate in India to question the Supreme Court's 2G spectrum judgement cancelling 122 telecom licences. The Attorney General told the apex court, "Even US President Barack Obama says it is not safe to invest in...
  • India remains a top FDI destination: Anand Sharma July 16, 2012

    Commerce Minister Anand Sharma has said that the government had taken note of US President Barack Obama's remarks on economic reforms in India and said that despite everything, India had an investor-friendly climate. ...
  • Obama rightfully acknowledged India's growth: Congress July 16, 2012

    US President Barack Obama had on Sunday flayed India for "prohibiting" foreign investment in key sectors like retail but admitted that India was still growing at an impressive pace. ...
  • Govt will work to restore growth momentum: PM June 24, 2012

    On board PM's special aircraft: Prime Minister Manmohan Singh on Saturday said his government will work its way to restore the momentum of growth in the wake of the economic slowdown and sought cooperation from all political parties, whether it is Trinamool or others. Asserting there is no stagflation, Singh said...