DIPP to release new industrial policy by October, will review FDI regime

download (1).jpgSource: LiveMint.com, Aug 30, 2017

New Delhi: The department of industrial policy and promotion (DIPP) under the commerce and industry ministry will release a new industrial policy by October that will focus on encouraging Indian branded products with higher value addition and will review the existing foreign direct investment (FDI) policy regime to facilitate greater technology transfer.

The policy is expected to replace the United Progressive Alliance government’s National Manufacturing Policy (NMP) released in 2011, which sought to create 100 million jobs by 2022.

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DIPP approves 9 FDI proposals worth about Rs 5,000 cr

Source: IBEF.org, Aug 28, 2017

New Delhi: The government has approved nine FDI proposals, including that of Amazon Retail India, envisaging foreign investments of about Rs 5,000 crore.According to the DIPP’s (Department of Industrial Policy and Promotion) Foreign Investment Facilitation Portal, four foreign direct investment proposals, including BCP Advisors and Aveo

Real Estate Holdings, have been rejected.

Amazon Retail has proposed investments of Rs 3,500 crore for setting up subsidiary company in India with 100 per cent FDI to engage in the business of retail trading of food products manufactured and/or produced in India.

Similarly, Supermarket Grocery also proposes initial investment of Rs 105 crore in food retail business.Subsequently, it proposes to raise the FDI to Rs 800-1,000 crore in the next 18 months.

Blueair India got approval to invest Rs 100 crore over five years in single brand retail trading along with its existing activity of cash & carry wholesale trading of air purifiers.

Urban Ladder Home Decor Solution envisages investment of USD 15 million (about Rs 97.5 crore) in single brand retail sector.As many as 10 FDI applications have been either rejected or closed or withdrawn.

Earlier this month, Commerce and Industry Minister Nirmala Sitharaman had informed Parliament that 99 foreign direct investment proposals were pending in various ministries and departments.

FDI into the country grew 9 per cent to USD 43.47 billion in 2016-17.

Govt may soon allow 100% FDI in defence

download (2).jpgSource: The Hindu Business Line, Aug 20, 2017

Mumbai: Hundred per cent foreign direct investment in defence manufacturing has been termed the need of the hour with senior government officials pushing for the inclusion and participation of foreign companies in the manufacture of military transport aircraft, battle tanks and armoured vehicles.

Finance Minister Arun Jaitley had held a meeting with government officials recently and conducted a review of the current Foreign Direct Investment (FDI) policy. The government has been looking to further liberalise the FDI regime to attract foreign investments in various sectors, including defence and retail.

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Agriculture sector received FDI worth Rs 355 cr in April-May: Govt

index.jpgSource: Business Standard, Aug 08, 2017

New Delhi: India’s farm sector received foreign direct investment (FDI) worth Rs 354.77 crore during April-May this year, Parliament was informed on Tuesday.

The data in this regard was placed before the Lok Sabha by Minister of State for Agriculture S S Ahluwalia.

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India, ASEAN-5 more fetching to FDI than other emerging markets

download (1)Source: The Economic Times, Aug 02, 2017

NEW DELHI: India along with Indonesia, Malaysia, Thailand, the Philippines and Vietnam is more attractive to FDIs as compared to other emerging markets and flows to these nations are expected to surge to around USD 240 billion by 2025, says a Nomura report.

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.

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71 pending FDI proposals put on fast track; decision likely in 8 to 10 weeks

download (1)Source: The Economic Times, July 10, 2017

NEW DELHI: As many as 71 pending foreign investment proposals, including those of Amazon, Grofers, Urban Ladder, One97 (which runs Paytm) and Jasper Infotech (Snapdeal), are being fast-tracked.

Many of these had been pending with the recently abolished Foreign Investment Promotion Board since 2015.

The Department of Industrial Policy and Promotion (DIPP) will now distribute them to the relevant ministries and check the status of each pending application at a joint review meeting later this month.

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Malaysian firms eye Rs 5,000 crore station makeover kitty in 1st big FDI boost for Railways

Source: The Economic Times, June 20, 2017

In potentially the first big FDI in railways, Malaysia’s state-owned Construction Industry Development Board (CIDB) will participate in the auction for redevelopment of Udaipur, Howrah, Indore, Secunderabad, Pune and Faridabadrailway stations.

The estimated cost of redevelopment of these stations would be Rs 5,000 crore, a top rail ministry official said. CIDB Holding Malaysia has written to the Railway Board, saying it would participate in the ongoing Swiss challenge bidding process of these shortlisted stations on behalf of Malaysian companies.

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