As per norms, a foreign company can open a wholly-owned subsidiary in India to retail food products produced and or manufactured in the country by way of opening stores or online.
Shark Tank is an American reality show where aspiring entrepreneurs from across the globe pitch their ideas to a panel of investors and try to convince them to invest in the idea.
The government believes the methodology may not have truly reflected many reforms, particularly in tax rates and administration, hammering down the overall rankings and creating an impression that India continues to remains a dodgy place to do business in.
The international seminar on April 5 is also aimed at analysing the business climate of the country to further facilitate domestic as well as foreign investments.
The Department of Revenue has said no to the tax incentive demand of US-based iPhone maker Apple, which wants to set up a manufacturing unit in the country.
The Reserve Bank is expected to formulate standard operating procedure (SOP) for approval of FDI proposals by ministries following the government decision to phase out FIPB.
Media reports suggest that Warburg Pincus is likely to pick up a 40% stake in Tata Technologies (an engineering solutions and IT product developing arm of Tata Motors).
The government has not taken a final decision yet on the concessions being sought by US iPhone maker Apple for setting up a manufacturing unit in India, a top official said today.
"The next edition of the consolidated FDI policy circular of 2017 is due to be issued this year, which would incorporate all the changes effected in FDI policy...," the Department of Industrial Policy and Promotion (DIPP) said.
Top officers from the Department of Industrial Policy and Promotion (DIPP) and Department of Financial Services among others will meet on January 23 to discuss the issue.
The government today said online sale of medicines is permitted under the present law and the Health Ministry will come out with a clarification which will put to rest issues between chemists and e-pharmacies.
With the government taking steps to promote intellectual property rights, filing of patents by Indians have increased by about 2 percent to 8,273 during April-November this financial year.
In a move to encourage entrepreneurs, the Finance Ministry is mulling offering a four-five year tax holiday to startups, reports Financial Express, quoting a source.
"38 new mobile manufacturing units with over 20 million units per month capacity have been set up since September 2015. These units have generated 38,300 employment opportunities," the report said.
The Department of Industrial Policy and Promotion (DIPP), which comes under the Ministry of Commerce and Industry, in a series of tweets said there is sufficient stocks of salt in the country.
In the World Bank's latest 'Doing Business' 2017 report, India's place remained unchanged from last year's original ranking of 130 among the 190 economies that were assessed on various parameters. But the last year's ranking has been revised to 131 from which the country has improved its place by one spot.
The latest ranking for ease of doing business has a surprise: Andhra Pradesh and Telangana are joint toppers and have dislodged Gujarat to the third spot. With a score 98.78 percent each, the two states outperformed Gujarat which scored 98.21 percent. Incidentally, Gujarat was last year‘s topper.
Secretary in the Department of Industrial Policy and Promotion (DIPP) Ramesh Abhishek said approvals and all necessary clearances sought by investors should be given in a time-bound manner.
The ranking was done under Assessment of State Implementation of Business Reforms 2016, done by the Department of Industrial Policy and Promotion (DIPP) in partnership with the World Bank, studied the extent to which states have implemented DIPP's 340-point Business Reform Action Plan (BRAP) for States/UTs in 2015-16.
The commerce and industry ministry is already on the job in this direction, sources said. They said there are certain sticking points in single brand retail trading that need to be reviewed.
"There are so many other issues on infrastructure, taxation... We are taking up all this. Some of them are being resolved." The government earlier this year approved changes in the FDI regime. The reforms included allowing 100 per cent inflow in civil aviation and food processing sectors while easing norms in defence and pharmaceuticals.
The government is in the process of setting up a Rs 2,000 crore credit guarantee fund with a view to providing funding facilities to startups, a top official today said.
"LIC and other pension funds must step in... definitely that money needs to be leveraged," Abhishek said here at the India Economic Summit, jointly organised by CII and WEF.
Department of Industrial Policy and Promotion (DIPP) Secretary Ramesh Abhishek said huge potential exists in India to attract FDI.
The Department of Industrial Policy and Promotion (DIPP) has floated a draft Cabinet note on the matter seeking views of different ministries.