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 course correction and a passing phase, he also said that India's economic growth prospects remain intact and the country needs to channelise the energy of its highly competent workforce.
"My view is that the government should make the rules that say that these investments are allowed in these industries and these are not allowed in these industries. Nobody should be required to apply for any approval," Paul told PTI in an interview in New Delhi.
"If they fit into the rules, they are most welcome, if they do anything different, they would be punished. This should be an open policy. So, take action, not selectively, but take action that is within the law. But make laws that are completely transparent and open," he said.
"Tell the investors -- We will not bother you if you follow the rules, but if you don't follow, we will hang you. This will help the foreign companies take their investment decisions as per the existing laws," said Paul, who heads UK-based over Rs 10,000 crore conglomerate Caparo Group that is present across the US, Europe and Asia including India....
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12:56 PM, Apr 08, 2013
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. ...
01:46 PM, Mar 31, 2013
India's economy will grow "no better than" 5.7 per cent in the current fiscal year but will regain traction in 2013/2014, the finance minister said on Tuesday, as he sought to reassure international investors that the government remained committed to pro-growth policies and reforms. P Chidambaram made the comments at a media briefing after meeting investors in Hong Kong as part of a four-city tour to try and boost capital...
05:45 PM, Jan 22, 2013
London: India's recent push for big ticket reforms has cast a shadow on the ongoing World Retail Congress meeting in London. Foreign retailers seem to be cautious about the announcement on many counts. Bijou Kurien, President and Chief Executive, Lifestyle, Reliance Retail Ltd, said, "The first is that they are all awaiting clarifications as far as the policy is concerned. The second is that they know that this is not...
10:37 AM, Sep 21, 2012
New Delhi: India has deferred by a year the rollout of measures to crack down on tax evasion, which had sparked an outcry among foreign investors, but has yet to provide clear guidelines on the proposals. Here are some quick facts that pertain to markets about the proposed changes and clarifications on GAAR announced by Finance Minister Pranab Mukherjee on Monday. *The General Anti Avoidance Rule, or GAAR, was proposed...
09:45 AM, May 09, 2012
New Delhi: Whatever its intentions in cracking down on abuse of tax havens, India has alienated overseas investors with the timing and communication of its measures when it can ill afford to do so. India's move to target tax evaders through a general anti-avoidance rule (GAAR), along with a plan to retroactively tax the indirect transfer of assets, has spooked investors and added to an exodus of funds, battering the...
08:45 PM, May 06, 2012
New Delhi: Wooing global investors by easing FDI procedures, the Reserve Bank on Friday said that transfer of shares between Indians and non-residents would not require its permission in several key areas like financial services. Amending the Foreign Exchange Management Regulations, the RBI said that its prior permission would not be necessary where the company whose shares are being transferred is engaged in any financial service. "This is a welcome...
07:21 PM, Nov 04, 2011
AFC President Mohammad Bin Hammam said that foreign investors are interested in buying Indian football clubs. ...
03:17 AM, Apr 17, 2007
Jutta Stefan-Bastl says shutdowns and trade unions discourage her country’s business people from investing in state. ...
01:36 PM, Mar 09, 2007
Real estate major Parsvnath Developers on Monday witnessed an impressive opening response for its Rs 1,000 crore IPO. ...
05:01 PM, Nov 06, 2006
The Indian real estate sector is set for a giant leap with Parsvnaths' upcoming IPO further opening the doors for foreign investors. ...
04:04 PM, Nov 02, 2006
