No plan to change current FDI policy in multi-brand retail trade: DIPP Secy

Source: Business Standard, Dec 13, 2018

New Delhi: The government has no proposal to change the existing foreign direct investment (FDI) policy in the multi-brand retail trading sector, a top official said Thursday.

“You know the multi-brand retail policy that exists today. There is no proposal for change,” Secretary in the Department of Industrial Policy and Promotion (DIPP) Ramesh Abhishek said here.

He was replying to a question whether the government is looking at increasing FDI cap to 100 per cent in the sector, a politically sensitive segment.

Although the current FDI policy permits overseas players to hold 51 per cent stake in an Indian multi-brand retail company, the BJP in its election manifesto had opposed overseas investment in the retail segment.

So far, only one foreign player, Tesco, has received approval for opening stores under the multi-brand retail policy. The previous UPA government had cleared the proposal. Read the rest of this entry »

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India attracted USD 22 bn of FDI flows in first half of 2018: UN report

Source: The Economic Times, Oct 16, 2018

India attracted USD 22 billion of FDI flows in the first half of 2018, according to a UN report which states that the global foreign direct investment dropped by 41 per cent in the same period due to tax reforms carried out by the Trump administration.

The UN Conference on Trade and Development (UNCTAD) said on Monday in its ‘Investment Trends Monitor’ report that in South Asia, India attracted USD 22 billion of FDI (foreign direct investment) flows, contributing to the subregion’s 13 per cent rise in FDI in the first half of the year.

The report, however, said that with the USD 22 billion FDI, India just about managed to make it to the top 10 host economies receiving the most FDI during the period. Read the rest of this entry »

100% FDI in insurance broking in the works

Source: The Economic Times, Oct 08, 2018

NEW DELHI: The government is looking at allowing 100% foreign direct investment (FDI) in insurance broking. A committee comprising senior officials from finance ministry and department of industrial policy and promotion (DIPP) will review the idea, a senior government official said.

At present, up to 49% FDI is allowed under the automatic route in the insurance industry, including insurance broking companies. Read the rest of this entry »

Govt mulls 100% FDI in insurance broking; insurers’ cap to stay at 49%

Source: Business Standard, Oct 02, 2018

New Delhi: The government is mulling permitting 100 per cent foreign direct investment (FDI) in insurance broking to give a boost to the sector, sources said.

The FDI policy, at present, allows 49 per cent foreign investment in the insurance sector that encompasses insurance broking, insurance companies, third party administrators, surveyors and loss assessors as defined by the Department of Industrial Policy and Promotion (DIPP).

The DIPP is an arm of the commerce and industry ministry which deals with FDI related matters and promoting ease of doing business in the country. Read the rest of this entry »

FDI in food processing touches $1-billion mark this year: Harsimrat Kaur Badal

2.jpgNEW DELHI: The foreign direct investment (FDI) in the food processing sector has already touched the USD 1-billion mark so far this year, Food Processing Minister Harsimrat Kaur Badal said Tuesday.

“When we took over the government in 2014, FDI in the food processing sector used to be USD 500 million every year. This year, we touched USD 1-billion mark. This is a tip of the iceberg, we have to go a long way,” Badal said addressing the CII event on post harvest and logistics.

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FDI in mining trickles to $36 mn in FY18, from a peak of $659 mn in FY15

Source: Business Standard, Sept 10, 2018

Bhubaneshwar: Foreign direct investment (FDI) inflows in the mining sector have hit the slow lane. After touching a peak of $659 million in 2014-15, FDI inflows into mining have tanked to $36 million at the end of 2017-18.

As a share of the overall FDI drawn by the country, the mining sector’s contribution has shrunk from 2.06 per cent to 0.08 per cent during the period. According to data by the Centre for Monitoring Indian Economy (CMIE), the mining sector’s slump in drawing FDI is comparable to 2013-14 when only $13 million investment came in, with a measly share of 0.05 per to the total foreign inflows.

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Mauritius tops India’s FDI charts again in FY18

download (1).jpgSource: The Economic Times, Sept 02, 2018

Mauritius remained the top source of foreign direct investment into India in 2017-18 followed by Singapore, whereas total FDI stood at USD 37.36 billion in the financial year, a marginal rise over the USD 36.31 billion recorded in the previous fiscal, according to RBI data.

While FDI from Mauritius totalled USD 13.41 billion as against USD 13.38 billion in the previous year, inflows from Singapore rose to USD 9.27 billion from USD 6.52 billion. Even as FDI from Netherlands declined marginally to USD 2.67 billion as against USD 3.23 billion in the year-ago period.

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