Over the past few years, India has imposed higher tariffs on Chinese imports, cracked down heavily on Chinese firms, and cut the flow of Chinese FDI . But, as an uneasy peace holds for the moment, officials say no major economic action is planned.
FDI equity inflow in manufacturing sectors increased to more than Rs 1.58 lakh crore in FY22, as compared to Rs 89,766 crore clocked in the previous fiscal.
It said the government has implemented several reforms under the FDI policy regime across sectors such as insurance, defence, telecom, financial services, pharmaceuticals, retail trading, and e-commerce.
The British brand, owned by Shanghai Automotive Industry Corporation, however faces challenges getting FDI approval for its expansion plans. It may also see other contenders race ahead once the semiconductor shortage eases
In their remarks at a reception hosted at the popular India House by India's Ambassador to the US, Taranjit Singh Sandhu, these top State level elected officials asserted that Indian businesses add value to their state economy, bring in new skill sets and most important of all create most sought-after jobs.
France is currently the top most destination for FDI into Europe even though it ranks third on the list of Indian investments in the continent.
The Chinese company is also awaiting government approval for its investment proposal. Its employee strength in India, meanwhile, is dwindling.
The Foreign Investment Facilitation Portal (FIFP) was developed after the abolition of Foreign Investment Promotion Board (FIPB) in May 2017.
Mauritius remains the fifth largest destination of Indian investments globally, mostly because of round-tripping of funds. While stringent tax rules are now reducing the flow, securing clean investments remains a challenge for the COVID-19-hit island country.
The chamber also said the current financial year is expected to attain a GDP growth of more than 8 per cent.
Dilip Chauhan was appointed Deputy Commissioner, Trade, Investment, and Innovation in the New York City Mayor's Office for International Affairs in January this year by Adams.
Replying to a question asked by Congress member Shashi Tharoor in Lok Sabha, the finance minister said foreign investments have to be gauged, not just by looking at FIIs and FPIs which by very nature depend on the interest rates and they keep on "moving up and down."
Replying to the discussion on the Finance Bill, 2022, and Appropriation Bill, 2022, the finance minister said India continues to remain among the top five foreign direct investment recipient countries in the world, as per a UNCTAD report.
Out of 347, 66 proposals have so far been granted approval by the government and 193 cases have been rejected or closed or withdrawn, Minister of State for Commerce and Industry Som Parkash said in a written reply to the Lok Sabha.
FDI is not permitted in a firm that is engaged or seeks to engage in real estate business, farmhouse construction, or trading in transferable development rights.
Releasing a whitepaper on the e-commerce policy, the Confederation of All India Traders (CAIT) said e-commerce entities have "structured their relationship as marketplace with sellers in a such a way that they are in a position to control either seller on their platform or the inventory and also escape the scrutiny of the enforcement agencies."
The Cabinet has also further simplified and enhanced the existing FDI policy, government sources told CNBC-TV18 on February 26
While India's trade with Canada has remained relatively low, the North American country is looked at as a major base because goods can be shipped across the border to the US. This is due to Canada’s favourable trade arrangements with the US.
In an exclusive interview with Network18, the finance minister has said a growth rate of over 8 percent going ahead is achievable if the recovery shown in some sectors continue and the laggards catch up.
Private equity funds Premji Invest and True North amongst potential suitors for the residual stake sale plans of Future Group in both the general and life insurance joint ventures
International arbitration is at the heart of the bilateral investment treaties signed by the government since 2015 when the Centre unilaterally cancelled all investment and tax agreements. While foreign companies claim the Indian legal system is slow and corrupt, the government is against fighting legal battles abroad that bleed public coffers.
The UN Conference on Trade and Development (UNCTAD) Investment Trends Monitor published on Wednesday said global foreign direct investment flows showed a strong rebound in 2021, growing 77 per cent to an estimated USD 1.65 trillion, from USD 929 billion in 2020, surpassing their pre-COVID-19 level.
Anurag Jain, secretary in the Department for Promotion of Industry and Internal Trade (DPIIT), said the current policy related to the sector will not facilitate the disinvestment process of LIC and, hence, needs to be revised.
Notwithstanding the global slowdown and the COVID-19 pandemic, total foreign direct investments into India rose to a record $81.72 billion in 2020-21.