Patna: Bihar Chief Minister Nitish Kumar defended on Thursday his repeated demand for special status to the state saying it (the status) will boost private investment in a big way to accelerate its industrial development. "I am pushing for grant of special status to Bihar only to bring private investment in a big way to expedite industrialisation process for generation of employment opportunities," he said in a function at Pataliputra industrial area after inaugurating a diamond cutting unit, the first of its kind in the state.
The special status brings with it tax concessions and the investors pumping their money in industrial units in Bihar will benefit from the incentives if the Centre grants his demand, the chief minister said. Claiming that the law and order situation in the state has improved, he said the present was as good as it gets for investors, who should take advantage of the positive atmosphere and make investments in Bihar. "If any investor has doubt about the law and order situation in Bihar, then such an investor should confirm it with the director general of police before taking the decision," Kumar said.
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12:20 AM, May 17, 2013
New Delhi: The government on Tuesday said it has cleared 17 foreign direct investment proposals totalling Rs 262.56 crore, including that of Sanofi-Synthelabo (India). The proposals were cleared following recommendations by Foreign Investment Promotion Board (FIPB) headed by Department of Economic Affairs Secretary Arvind Mayaram, an official statement said. Sanofi-Synthelabo's proposal was regarding acquisition of a pharma company through internal accruals. The company proposes to bring in FDI worth Rs...
08:55 PM, May 07, 2013
Bhubaneswar: A scam as big as the chit fund fraud in West Bengal has been exposed, but this time it is in Odisha. A CNN-IBN exclusive shows how fraudulent investment companies are duping investors in the state. Investors have been swindled off nearly Rs 20,000 crore by 40 finance companies in Odisha. Seashore Group, one of the companies being probed by Odisha police, has duped over 80,000 investors and collected...
06:38 PM, May 01, 2013
New Delhi: Overseas investors pumped USD 823 million into the stock markets in the month of April, taking the total investment tally to over USD 11 billion in 2013 so far. Foreign institutional investors (FIIs) infused a net amount of USD 823 million (about Rs 4,450 crore) in Indian stock market in March taking the total inflows to USD 11.2 billion (Rs 60,072 crore) in less than four months of...
01:50 PM, Apr 28, 2013
Finance Minister P Chidambaram suggested on Tuesday that the government is unlikely to raise the import tax on gold further to avoid gold smuggling and would instead introduce inflation-indexed instruments to help curb a record current account deficit. ...
12:44 PM, Apr 02, 2013
The Cabinet Committee on Investments, which was set up in January for clearing major infrastructure projects, is expected to give its nod for a number of projects within the next three weeks, Planning Commission Deputy Chairman Montek Singh Ahluwalia has said. "My hope is that the Cabinet Committee on Investment in the course of next two to three weeks, will demonstrate that a number of (infrastructure) projects can get cleared,"...
01:14 PM, Mar 30, 2013
Russia wants the BRICS group of major emerging economies to broaden its role and get more involved in geopolitics, President Vladimir Putin said in an interview published on Friday. ...
05:20 AM, Mar 22, 2013
Finance Minister P Chidambaram on Monday said the government was hopeful about raising Rs 40,000 crore from stake sale in public sector undertakings (PSUs) in the financial year beginning April 1, 2013. ...
02:27 AM, Mar 05, 2013
Aiming to restart the growth engine, Finance Minister P Chidambaram on Monday said he will monitor every quarter the investment plans of public and private sector entities that are sitting on huge cash piles. "Each PSU is required to fill up that proforma, tell us what their capex targets are next year. We will monitor them closely beginning from April, 2013. Every quarter I will monitor what they are investing,"...
11:32 PM, Mar 04, 2013
Ahead of Egyptian President Mohammad Mursi's maiden visit to India, a senior minister discussed ways to advance bilateral economic, trade and investment ties and opening up new avenues of commercial exchanges. ...
10:40 PM, Mar 04, 2013
British companies are looking for opportunities in India, especially in the infrastructure space that is expected to see investments worth USD 1 trillion in five years, according to global consultancy Deloitte. ...
04:05 PM, Mar 04, 2013
French President Francois Hollande on Friday said French companies are willing to invest up to $1 billion in India, but asked New Delhi to take necessary steps to open up the market by removing obstacles. "There are always obstacles to opening markets," Hollande said addressing industry leaders in the financial capital this evening but clarified he is not meddling in the political affairs of this country. ...
09:40 AM, Feb 16, 2013
The sixth edition of the Vibrant Gujarat Global Summit concluded in the state capital Gandhinagar Saturday evening with promises from the Bharatiya Janata Party government of investments worth Rs 40 lakh crore for the state. However, the Narendra Modi government's track record of converting pledged investments into reality has been less than impressive, with even Modi, who swept through the Gujarat elections in December 2012 to become the chief minister...
08:20 AM, Jan 13, 2013
Private equity funds invest over a seven to nine year cycle, so investments that were made in 2006 to 2008 will be the ones that will be ready for harvest. Unfortunately, many of those investments were made on business plans that don't look very achievable now. They all assumed a strong economic growth environment. This problem will be more for some sectors such as industrial goods as opposed to, say,...
11:43 AM, Jan 04, 2013
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, FDI inflows have declined by about 27 per cent to USD 14.78 billion, from USD 20.29 billion in the...
05:40 PM, Dec 21, 2012
Washington: At least seven companies from China, India, South Korea and South Africa continued to have investments in Iran's oil and gas sectors in 2012 even as Tehran came under international scrutiny for its nuclear ambitions, a US government watchdog said on Friday. A new US law signed in August gave the Obama administration the authority to sanction firms that help Iran develop its energy resources, a key source of...
03:21 AM, Dec 09, 2012
New Delhi: Fitch Ratings has cut its 2012 growth forecasts for India to 6 percent from 6.5 per cent on deteriorating global growth outlook with diminished willingness or capacity to respond with domestic policy loosening, compared with 2009. India's economic outlook remains challenging. Investment rose just 0.7 per cent YoY in second quarter of 2012, with higher-frequency indicators pointing to another weak outturn in Q3. "Ongoing concerns over government economic...
11:48 AM, Sep 28, 2012
New Delhi: Expressing serious concerns over contraction in industrial production, industry on Thursday called for immediate policy measures to boost investments in the country. "The June IIP numbers are disappointing and are a cause for serious concern. Any further decline in GDP growth will have a deleterious effect on employment and on consumer demand," CII said in a statement. Echoing views, FICCI President RV Kanoria said: "This calls for immediate...
03:30 PM, Aug 09, 2012
New Delhi: Finance Minister P Chidambaram held his first press briefing after taking over the post saying the aim of the Ministry was to remove procedural burdens in making investments in India. "The key to restart the growth engine is to attract investment, both home and foreign. Our aim is to remove the procedural burdens in making investments in India." He added, "The food inflation is high. It can be...
03:58 PM, Aug 06, 2012
New Delhi: India on Wednesday decided to allow foreign direct investment from Pakistan in a move to boost bilateral economic relations. "The government of India has reviewed the policy...and decided to permit a citizen of Pakistan or an entity incorporated in Pakistan to make investments in India, under the government route, in sectors/activities other than defence, space and atomic energy," an official statement said. Sources said in order to address...
05:17 PM, Aug 01, 2012
