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English Release 19-September 2014
Date Month Year
  • President's Secretariat
  • Foreign Minister of Bangladesh calls on President
  • Speech by The President of India, Shri Pranab Mukherjee at the banquet hosted in honour of the President of The People’s Republic of China, H.E. Mr. Xi Jinping
  • Prime Minister's Office
  • PM receives Foreign Minister of Bangladesh
  • Melinda and Bill Gates call on the Prime Minister
  • PM reviews preparations for launch of Mission Swachh Bharat
  • PM condoles the passing away of renowned musician Uppalapu Shrinivas
  • Department of Atomic Energy
  • DAE Clarification on Media Report Citing Cancer Deaths in Atomic Energy Hubs Say’s Report is a Malicious Distortion of Facts
  • Min of Agriculture
  • 120.27 Million Tonnes of Foodgrains Production Estimated
  • All Round Development of the Agro Sector is the Highest Priority of the Government- Radha Mohan Singh
  • Min of Chemicals and Fertilizers
  • Assam Gas Cracker Project
  • Min of Commerce & Industry
  • PM Nominates Adil Zainulbhai as New QCI Chairman
  • Min of Culture
  • Statement of Minister of State (Independent Charge) for Tourism and Culture Shri Shripad Naik at the Press Conference on Initiatives, Achievements and Policies
  • Min of Defence
  • Op Megh Rahat Rescue Operations Completed
  • Min of Earth Science
  • Atlas on Wave Related Information
  • Ministry of Finance
  • Bill & Melinda Gates Foundation (BMGF) Offers Help in Monitoring the Progress Made With Regard to Pradhan Mantri Jan-Dhan Yojana (PMJDY)
  • Min of Health and Family Welfare
  • PRESS NOTE
  • Dr Harsh Vardhan revives National Cancer Awareness Day
  • Min of Home Affairs
  • All Candidates of NDA and NA Examination (II), 2014 Who Have Opted for Srinagar (J&K) as Examination Centre
  • Indian Meteorological Department weather forecast of heavy rain in some states
  • Stakeholder Consultation Workshop on Post-2015 Framework on Disaster Risk Reduction
  • Important Instructions for the Candidates for Appearance in Personality Test Boards of Combined Geo-Scientist and Geologist Examination, 2014
  • Text of the Union Home Minister, Shri Rajnath Singh’s Address at the Sixth Meeting of SAARC Ministers of Interior / Home at Kathmandu on September 19, 20014
  • India Proposed to Establish SAARC Centre for Good Governance
  • Min of Housing and Urban Poverty Alleviation
  • Real Estate Regulation Bill seeks to enhance credibility of the sector, says Shri M.Venkaiah Naidu
  • Min of Information & Broadcasting
  • I&B Minister launches News SMS Service in 5 Indian languages
  • Min of Minority Affairs
  • National Minority Commission Extends Sympathy and Support to J&K Flood Victims
  • Min of Personnel, Public Grievances & Pensions
  • Combined Geo-Scientist and Geologist Examination, 2014
  • Combined Geo-Scientist and Geologist Examination, 2014
  • Gates Foundation announced USD 7 lakh for J&K relief operations
  • Min of Petroleum & Natural Gas
  • Supply of essential Petroleum Products in Jammu & Kashmir augmented;
  • Global crude oil price of Indian Basket was US$ 96.17 per bbl on 18.09.2014
  • Ministry of Railways
  • Railways to Run Premium (Bi-Weekly) Super Fast Special Train Between Ahmedabad & Shri Mata Vaishno Devi Katra
  • Railway Minister Announces Setting up of A State-of-the-Art Training Centre for Railway Protection Force at Maula-Ali, Secundedrabad
  • Min of Skill Development, Entrepreneurship, Youth Affairs and Sports
  • Out of Pocket Allowance for the athletes and coaches enhanced for Asian Games 2014
  • Ministry of Tourism
  • Achievement/ Initiatives of Ministry of Tourism
  • Min of Urban Development
  • Shri M.Venkaiah Naidu and Shri Bill Gates discuss partnership in sanitation project
  • Ministry of Water Resources
  • WAPCOS Presents Dividend Cheque to Uma Bharti
  • Storage Status of 85 Important Reservoirs of the Country as on September 18, 2014
  • Min of Women and Child Development
  • Union Minister of Women & Child Development Meets Melinda & Bill Gates

Previous Date

 
Ministry of Commerce & Industry26-November, 2012 16:52 IST
FDI in Various Sectors

As per extant FDI policy, FDI, up to 26% is permitted, in the defence sector, with prior Government approval. Government has, further, interalia announced the following decisions:-

(i) Amendment of certain conditions relating to FDI, up to 100%, in single brand retail trading, vide Press Note No. 4(2012 Series) dated 20.9.2012

(ii) Permitting FDI, up to 51%, in multi-brand retail trading, subject to specified conditions, vide Press Note No. 5 (2012 Series) dated 20.9.2012

(iii) Permitting foreign airlines to invest, in the capital of Indian companies, operating scheduled and nonscheduled air transport services, up to the limit of 49% of their paid-up capital, vide Press Note No.6 (2012 Series) dated 20.9.2012

(iv) Permitting FDI, up to 49%, in power exchanges, vide Press Note No. 8 (2012 Series) dated 20.9.2012

The above mentioned decisions have been incorporated in the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 vide Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) (Sixth Amendment) Regulations, 2012 notified in the Gazette of India: Extraordinary vide G.S.R.795(E) dated 19.10.2012.

It is the Government’s assessment that implementation of the policy is likely to facilitate greater FDI inflows into front and back-end infrastructure; technologies and efficiencies to unlock the potential of the agricultural value chain; additional and quality employment; and global best practices. This, in turn, is expected to benefit consumers and farmers in the long run, in terms of quality and price. The 30% mandatory sourcing condition has been incorporated to encourage local value addition and manufacturing. The increased level of activity, in the front-end, as well as in the back-end, resulting from greater FDI inflows, is expected to create additional employment opportunities for rural and urban youth. It is, further, expected to encourage existing traders and retail outlets to upgrade and become more efficient, thereby providing better services to consumers and better remuneration to the producers from whom they source their products.

The consultations with key stakeholders regarding FDI in multi-brand retail trading brought out views both for and against FDI in multi brand retail trading. On balance, however, the discussions generally indicated support for the policy, subject to the introduction of adequate safeguards. The necessary safeguards have, accordingly, been incorporated in the policy and are expected to protect the interests of various stakeholders. Government has also decided to constitute a high-level group to make recommendations on internal trade reforms, with a view to ensuring distributional efficiencies and also that the benefits from trade are available to all sections of society.

Two proposals have been received for FDI up to 100% in single brand retail trading (from M/s Ingka Holding Overseas B.V, Netherlands and M/s Fossil India Private Limited). Further, seven proposals have been received, for single brand product retail trading, with foreign equity participation up to 51% (from M/s Fapa Company Ltd., Samoa; M/s Promod S.A.S, France; M/s Tommy Hillfiger B.V, The Netherlands; M/s NA Pali Europe SARL; M/s The Semex Alliance, Canada; M/s Le Cruset SAS France and M/s Sketchers South Asia Private Limited). No proposal has been received for FDI in multi-brand retail trading.

The proposals require in-depth examination with reference to the policy parameters and safeguards. As such, no timeframe can be specified for a decision on these proposals.

This information was given by the Minister of State for Commerce & Industry Dr. S. Jagathrakshakan in written reply to a question in Lok Sabha today.

******


DS
(Release ID :89441)

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