Source: Financial Express, May 15, 2012
New Delhi: Foreign direct investment (FDI) by Indian companies rose by nine-fold to over USD 72.04 billion over five years till 2009-10 from 7.21 billion during 2000-01 to 2004-05.
“The increased outward FDI by Indian parties has been primarily driven by resource seeking or market seeking or technology seeking motives,” Minister of State for Finance Namo Narain Meena said in a reply to Rajya Sabha.
Source: Financial Express, May 09, 2012
New Delhi: With an eight-fold increase, India attracted foreign direct investment (FDI) of USD 8.1 billion in March, the highest ever monthly inflows, despite a brouhaha over Rs 11,000 crore Vodafone tax dispute.
Cumulative FDI inflows for the fiscal 2011-12 amounted to USD 36.50 billion, authoritative sources said.
In March 2011, the country received FDI worth USD 1.07 billion.
The USD 7.2 billion Reliance Industries-British Petroleum (BP) deal, announced in February 2011 contributed significantly to the inflows, even though funds from the UK oil major would have come in phases, they said. The BP had picked up a 30 per cent stake in Reliance Industries’ 21 oil-fields.
Source: The Hindu Business Line, May 08, 2012
New Delhi: India saw foreign direct investment (FDI) worth $341.49 million in the drugs and pharmaceuticals sector between April 2009 and February 2012, the Government said on Monday.
At present, the Government allows 100 per cent FDI for both greenfield and existing projects in these sectors, the Minister of State for Commerce and Industry, Mr Jyotiraditya M. Scindia, said in a written reply in the Rajya Sabha on Monday.
However, the Ministry had not maintained a comprehensive data with regard to acquisition of pharmaceutical companies by multinational players, he added.
Source: The Economic Times, May 07, 2012
NEW DELHI: Undeterred by a slowdown in growth, India’s foreign direct investment flow touched a record $50 billion in 2011-12, the highest since investments were opened up in 1996.
British energy major BP’s investment of $8.9 billion into India in March 2012 as part of its deal with Reliance Industries earlier this year played a significant role in helping the country reach the record investment figure.
Source: VCCIRCLE.com, Apr 13, 2012
The Department of Industrial Policy and Promotion (“DIPP”) in India, in pursuance of its policy of consolidating all the press releases / press notes, has released the Circular 1 of 2012, being the new consolidated foreign direct investment (“FDI”) policy (“New FDI Policy”), which is made effective from April 10, 2012. The New FDI Policy supersedes inter alia the earlier version of the consolidated FDI policy of 2011 i.e. Circular 2 of 2011 (“Erstwhile FDI Policy”) and other press notes issued prior to April 9, 2012.
Along with the New FDI Policy, DIPP has also issued a press release (“Press Release”) whereby DIPP has left a remark that “it is felt that the need of frequent amendments to the Circular does not exist any longer”. As a result, earlier the consolidated FDI policy which was a part of review process that was undertaken two times annually; now onwards would be revised only annually. Thus, the next version of the consolidated FDI policy will now be released on March 29, 2013 (as indicated in the Press Release); however, in the intervening period, DIPP may make changes to the New FDI Policy by way of press notes.
Source: The Hindu Business Line, Apr 25, 2012
Washington: Five American trade bodies, including USIBC, have joined hands to oppose the efforts of the Indian Government to further restrict the participation of foreign companies in India’s tobacco market.
According to reports, the India’s Commerce Ministry, on the request of Health Ministry, has proposed to put a complete FDI ban in the sector.
Currently, foreign direct investment (FDI) is completely prohibited in the manufacturing of tobacco and its substitutes, while such investments are allowed up to 100 per cent in wholesale trading of cigarettes through the approval route.
Source: The Financial Express, April 19, 2012
India received USD 2.21 billion in foreign direct investment in February, showing an annual growth of 74 per cent, taking cumulative inflows to USD 28.40 billion for the April-February period of the last fiscal.
In February 2011, the country received FDI worth USD 1.27 billion.
Experts say there is a much greater potential for attracting higher foreign investment provided economic reforms are pushed.
Source: Business standard, Apr 17, 2012
New Delhi: Before the proposal of allowing foreign airlines to buy stakes in domestic carriers is taken up by the Cabinet, Prime Minister Manmohan Singh is likely to consult senior ministers to build a consensus on the contentious issue, sources said.
“While the final cabinet note has been moved by the Department of Industrial Policy and Promotion (DIPP), the Prime Minister is likely to hold consultations among ministers for Finance, Commerce, and Home Affairs. Besides, he would also consult with Railways Minister Mukul Roy, who is from TMC, a key ally in the UPA government,” they said.
Source: Business standard, Apr 16, 2012
New Delhi: Signalling further improvement in its relation with Pakistan, India on Friday said it would allow a flow of foreign direct investment (FDI) from that country soon.
Source: The Hindu Business line, Apr 5, 2012
The Government today said that it will “very soon” take a decision on the issue of allowing foreign airlines to pick up stake in the Indian carriers.
“This has been discussed with the Finance Minister, Civil Aviation Minister and myself and an appropriate view and decision will be taken very soon,” the Commerce and Industry Minister, Mr Anand Sharma, told reporters at the sidelines of Hero Mindmine Summit here.
