With the raising of this capital, FDI in the bank would hit the regulatory ceiling of 74 percent
Foreign inflows are crucial for India, which needs huge investments to overhaul its infrastructure such as ports, airports and highways to push growth.It helps improve the country's balance of payments situation and strengthen the rupee value against other global currencies, especially the US dollar.
However, according to an UNCTAD report, foreign direct investment (FDI) to India decreased to USD 40 billion in 2017 from USD 44 billion in 2016, while outflows from India, the main source of investment in South Asia, more than doubled.
According to the World Investment Report 2018 by the UN Conference on Trade and Development (UNCTAD) global foreign direct investment flows fell by 23 percent in 2017, to USD 1.43 trillion from USD 1.87 trillion in 2016.
As per the UNCTAD, the foreign inflows to India decreased from USD 44 billion in 2016 to USD 40 billion in 2017.
At least seven high-profile cases that were held up, are now reportedly on the path to resolution, including those of American Tower Company and the Vedanta Group
In a statement, the Confederation of All India Traders (CAIT) said it "has urged the ED to investigate the business module of other e-commerce companies also as largely everyone is circumventing the law, Flipkart is one example of that".
The proposals included that of Hindustan Infralog Pvt Ltd which sought approval for foreign investment from DP World Global Investment BV, Netherlands amounting to 65 per cent of paid-up share capital.
Intermediary services include insurance broking, third party administrators, surveyors and loss assessors.
The move would help in cutting down unnecessary delay in the clearance of foreign direct investment (FDI) proposals, the source added.
The report also said that India fell out of the top 10 for the first time since 2015.
Prime Minister Narendra Modi has encouraged co-operative federalism and he asks foreign dignitaries to visit state leaders instead of only focusing on the Central leadership so that the states can become growth engines, the chief minister said.
The proposal assumes significance against the backdrop of pending merger of Idea Cellular Ltd and Vodafone India to form the country's largest telecom operator.
FDI inflow edged up 0.4 percent year-on-year in March to 88.14 billion yuan (USD 14.03 billion), Gao Feng, spokesperson with the ministry of commerce, said at a press conference.
At present, ASICS India sources about 10-12 percent of its total products sold from India.
The Confederation of All India Traders (CAIT) took a strong view against e-commerce platforms for indulging in "deep discounting and loss funding thereby violating FDI Policy 2016 of the Union Government".
The other three sectors, which were not able to attract foreign inflows are - photographic raw film & paper, dye-stuffs and coir, according to the data shared by Minister of State for Commerce and Industry C R Chaudhary in a written reply to the Lok Sabha.
It is the right time for the American businesses to come and invest in India and be part of the success story the world's fastest growing emerging economy, the Indian Consul General in Chicago Neeta Bhushan told a large group of corporate sector representative from the mid-west region.
The FDI inflows were USD 35.84 billion during the April-December period of last fiscal, 2016-17.
FDI in the food processing sector is expected to rise by 38 per cent to USD 1 billion this fiscal, driven by recent reforms, Union minister Harsimrat Kaur Badal said today.
Idea Cellular is in the process of merging its telecom business with the Indian unit of British telecom major Vodafone.
The government had also relaxed FDI policy for medical devices and audit firms associated with companies receiving overseas funds.
A Single Brand Retail Trade (SBRT) entity is now permitted to set off its incremental sourcing of goods from India for global operations during the initial five years, beginning April 1 of the year of the opening of the first store
Banking is core part of the Indian economy and earnings from the sector must benefit Indian savers than move out to the foreigners, Kotak's joint managing director said
Besides, the industry is also seeking relaxed FDI regime for multi-brand retail trade (MBRT) as also incentives to be provided for setting up warehousing and cold-chain storage facilities.