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
New Delhi: Prime Minister Manmohan Singh will be meeting corporate leaders on Wednesday to discuss ways to improve the investment climate in the country. India Inc had requested for the meeting with the Prime Minister to take up macro economic issues and slowing investments. India Inc is pinning its hopes on the government to revive the slowing economy through administrative steps, after the Reserve Bank of India (RBI) left key...
09:58 AM, Aug 01, 2012
New Delhi: The government on Tuesday said it has approved Rs 225 crore foreign investment in Indian operations of Asian equity research major CLSA, besides 13 other FDI proposals involving Rs 1,584 crore. "Based on the recommendations of Foreign Investment Promotion Board (FIPB)...Government has approved 14 Proposals of FDI amounting to Rs 1,584.11 crore approximately," the Finance Ministry said in a statement. CLSA is an Asian unit of European Banking...
08:05 PM, Jul 24, 2012
The Russian Ambassador to India has warned that if Sistema, which has a joint venture with Shyam TeleServices, is not allowed to do business in India, then Indian investments in Russia may be hit. ...
10:21 AM, Jul 21, 2012
New Delhi: Planning Commission Deputy Chairman Montek Singh Ahluwalia has said that the Finance Ministry under Prime Minister Manmohan Singh will very quickly "resolve" uncertainty among investors caused by anti-tax avoidance rules which were unveiled in the Budget. Talking about former finance minister Pranab Mukherjee, he said that it was not right to put the blame for slow growth on any one person. Speaking to Karan Thapar on Devil's Advocate,...
08:17 PM, Jul 01, 2012
New Delhi: The Deputy Chairman of the Planning Commission, Montek Singh Ahluwalia has said that it is not possible for India to achieve the 7.6 per cent growth target set earlier this year. His statement assumes significance in light of Prime Minister Manmohan Singh taking over the Finance Ministry. Speaking to Karan Thapar on Devil's Advocate, Montek said that it was more realistic to expect and 6.5-7 per cent GDP...
08:02 AM, Jul 01, 2012
HDFC Chairman Deepak Parekh has lashed out at the government for it's policy flip flops. ...
08:39 AM, Apr 18, 2012
Mumbai: The Reserve Bank of India (RBI) on Thursday directed Muthoot Fincorp Ltd arm - Muthoot Estate Investments - not to accept any deposits from public in any manner. "The RBI has directed Muthoot Fincorp Ltd to stop allowing the use of its premises or branches or officials, in any manner by Muthoot Estate Investments for accepting deposits from public," the RBI said in a notification. Muthoot Fincorp Ltd, a...
09:53 PM, Mar 29, 2012
Bangalore: Tech-savvy Karnataka on Wednesday unveiled a special policy on animation, visual effects, gaming and comics (AVGC) to attract investments and generate employment for thousands of educated youth in the sunrise sector. "Karnataka is the first state in the country to formulate a separate policy on AVGC with a view to making the state a preferred destination in the new sunrise sector," state Labour Minister B.N. Bacchegowda said while releasing...
03:24 PM, Feb 29, 2012
New Delhi: Norwegian telecommunications company Telenor on Friday came out strongly against the Supreme Court ruling ordering all 2G licenses to be scrapped saying that the order was a "very serious attack" on the firm's investments. "The Supreme Court ruling is a very serious attack on the firm's investments. Quitting the Indian market now is an option being considered," a statement by the company read. It added, "(The firm) may...
08:42 AM, Feb 03, 2012
Mumbai: Overseas investments by Indian companies stood at $ 797 million in January, with Tata Group, infrastructure major IL&FS and pharma major Lupin emerging as major investors. As many as 418 overseas investment transactions were carried out by various companies last month. However, outbound foreign direct investment (FDI) in the month of January was over 45 per cent less than the $ 1.46 billion figure during December 2011, according to...
07:57 PM, Feb 02, 2012
New Delhi: Although the economy is in a difficult situation, things have not come to such a pass that people should start eating lizards, Finance Minister Pranab Mukherjee said on Wednesday. "The economy is in a difficult situation, but it does not mean that we should start eating lizards. Our basic fundamentals are still strong," he said in Lok Sabha in reply to a discussion on the second batch of...
09:44 PM, Dec 07, 2011
New Delhi: The Union Cabinet gave its nod for foreign funds in retail on Thursday, a move that the beleaguered UPA hopes will help salvage its image. It's also the government's first big policy initiative that sends a clear message to dissenting allies like TMC chief Mamata Banerjee as to who's calling the shots in the coalition. Sources say both the Prime Minister Manmohan Singh and Commerce Minister Anand Sharma...
07:12 AM, Nov 25, 2011
New Delhi: The Union Cabinet on Thursday cleared 50 per cent foreign direct investment (FDI) in multi-brand retail and 100 per cent FDI in single brand retail despite division within the UPA on the issue. The Bharatiya Janata Party (BJP), the Left, UPA ally Trinamool Congress along with some Cabinet ministers Veerappa Moily and Mukul Wasnik have opposed it. While the BJP feels that FDI will lead to unemployment, the...
08:49 PM, Nov 24, 2011
New Delhi: India is considering opening fully its single-brand retail sector to foreign direct investments. The announcement was made on Monday by the Industry Secretary, R P Singh. The step is being seen as a possible boon to the government's reform programme, which has appeared on the backburner. India currently allows 51 per cent foreign direct investment (FDI) in single-brand retail and 100 per cent in wholesale operations. The government...
12:03 PM, Oct 03, 2011
Markets swing in volatile trade, Some recovery mid-session over talk of policy action by the US Fed. ...
11:56 PM, Aug 09, 2011
