FDI rose 17.3 percent to 70.63 billion yuan ($10.73 billion) in September from a year earlier, compared with a 9.1 percent gain in August, marking its biggest percentage gain since August 2015.
The textile minister asserted that the country's man-made fibre sector can soon look forward to "good news" as an inter- ministerial group (IMG)has been formed to suggest measures to maximise its potential. However, she did not elaborate on the details.
India's Secretary of Defence Production, Ashok Gupta, outlined the criteria by which US original equipment manufacturers (OEMs) can participate in the Indian defence market.
The state attracted more than half of the total foreign direct investment (FDI) in the country last fiscal, Fadnavis said at an industry event.
Fadnavis said opportunities exist in the state for businesses across all sectors, and pointed out upcoming areas under the Smart City initiative which can be of interest to power, grid and housing industries.
The overseas investment by Indian companies in August last year ago stood at USD 1.57 billion.
Noting that USD 2 billion fund outflows by foreign portfolio investors (FPIs) is only a temporary phenomenon, James said "with the US rate hike roadmap becoming less clear, and with no major FDI destinations emerging, India should remain a favourite among global investors".
Dyson International got an approval to carry out single brand retail trading of 'Dyson' branded products in India, it said in a statement. The investment envisaged in the range of 5 million to 10 million British pounds.
Xerox India had submitted a proposal for wholesale trading of xerographic equipment, document processing products and global document outsourcing business.
"An e-commerce entity will not permit more than 25% of the sales value on financial year basis affected through its marketplace from one vendor or their group companies," the Department of Industrial Policy and Promotion (DIPP) said in its consolidated FDI policy circular, released here.
Start-ups can issue equity or equity linked instruments or debt instruments to FVCI against receipt of foreign remittance, said the document which incorporates all the changes made in FDI policy over the past year.
The Department of Industrial Policy and Promotion (DIPP) said the new "circular will take effect" from today.
Finance Minister Arun Jaitley who also holds the Defence Ministry’s portfolio held a meeting with government officials recently and took stock of the current FDI policy
Bankers to Essar Oil will get Rs 4,000 crore from Rosneft deal of Rs 82,740 crore (USD 12.9 billion) which will reduce Essar’s Group debt by Rs 70,000 crore
The report said while supply side has undergone a structural change, reform momentum is well above its historic past and more aggressive than emerging as well as global peers.
The meeting was attended by Commerce and Industry Minister Nirmala Sitharaman, Power Minister Piyush Goyal and senior officials in the Department of Industrial Policy and Promotion (DIPP), sources added.
All of them are in the non-small scale industry. At the end of June, 682 textile mills were closed in the country, she said during the Question Hour. Of them, 232 mills were in Tamil Nadu while 85 were in Maharashtra and 60 in Uttar Pradesh.
In a written reply to Lok Sabha, Minister of State for Textiles Ajay Tamta said during the first two months of current fiscal, the sector received USD 21.41 million foreign inflows.
The Japanese financial services major has dubbed India and ASEAN-5 (Indonesia, Malaysia, the Philippines, Thailand and Vietnam) as "Asia's tiger cubs", and said FDI inflows to these nations will increase from around USD 100 billion per year now to around USD 240 billion by 2025.
In 2016-17, the foreign fund inflows aggregated at USD 60.08 billion, Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Lok Sabha.
At the meeting, the commerce and industry ministry will make a detailed presentation on proposed changes to streamline the FDI regime in the country.
They did not wish to be identified as discussions are still on and the deal has not been signed yet.
The proposal was pending before the Foreign Investment Promotion Board (FIPB) which has been abolished now.
Foreign investments in bulk of the sectors are allowed under the automatic route. Currently, only 11 sectors, including defence and retail trading, require government approval for Foreign Direct Investment.
The move is aimed at improving investment climate of the country. The new mechanism will replace the Foreign Investment Promotion Board, abolished by the government.