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English Release 29-August 2014
Date Month Year
  • Prime Minister's Office
  • PM greets people on the occasion of Samvatsari
  • PM's Departure Statement ahead of his visit to Japan
  • PM pays tribute to legendary hockey player Dhyan Chand; congratulates award-winning sportspersons
  • PM greets people on Ganesh Chaturthi
  • Min of Agriculture
  • Kharif Sowing Crosses 966 Lakh Hectare Mark
  • Min of Civil Aviation
  • Air India Day Felicitates its Employees
  • Ministry of Finance
  • 1,84,68,000 Accounts Opened in more than 70000 Camps Under Pradhan Mantri Jan-Dhan Yojana ; Banks to hold such Camps on Weekly Basis, from 8 am to 8 pm on all saturdays to Achieve the Target of Covering Unbanked Households well in Time
  • India Signs Loan Agreements with World Bank for IDA Assistance of US $ 107 Million for Second Mizoram State Roads Project
  • Change in Tariff Value of Crude Palm Oil, RBD Palm Oil, Others – Palm Oil, Crude Palmolein, RBD Palmolein, Others – Palmolein, Crude Soyabean Oil, Brass Scrap (All Grades), Poppy Seeds, Areca Nuts, Gold and Silver Notified
  • India’s External Debt: A Status Report 2013-14 Released; India’s External Debt Stock Stood at US$ 440.6 Billion at end-March 2014, Increasing by US$ 31.2 Billion (7.6 per cent) Over the Level at end-March 2013
  • Min of Health and Family Welfare
  • Integrated trauma support service on anvil
  • Exclusivity of Central Government Health Scheme to be phased out
  • Min of Home Affairs
  • India-Israel Bilateral Cooperation
  • Shri O.P. Singh assigned additional charge of DG, NDRF
  • National Seminar on Promoting Peace and Harmony
  • New Interlocutor for Naga Peace Talks
  • Min of Labour & Employment
  • National Consultative Workshop on “Industry-Career Centre –ITI Collaboration” organized
  • Min of Personnel, Public Grievances & Pensions
  • Dr. Jitendra Singh Felicitates UPSC recommended IAS Candidates
  • ACC Appointments
  • Min of Petroleum & Natural Gas
  • Global crude oil price of Indian Basket was US$ 101.07 per bbl on 28.08.2014
  • Min of Shipping
  • Delegation of Powers to States for Registration, Survey and Certification of Fishing Vessels
  • Min of Statistics & Programme Implementation
  • Estimates of Gross Domestic Product for the First Quarter (April-June) of 2014-15
  • Ministry of Water Resources
  • Storage Status of 85 Important Reservoirs of the Country as on August 28, 2014
  • Min of Youth Affairs & Sports
  • President Confers National Sports Awards – 2014
  • Full Text of the Speech of Sarbananda Sonowal at a Function to Celebrate the National Sports Day
  • Text of Speech of Sarbananda Sonowal at the National Consultation Workshop on ‘Industry- Career Centre- ITI Collaboration’

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.

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DS
(Release ID :89441)

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