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English Release 25-October 2014
Date Month Year
  • President's Secretariat
  • Speech by the President of India Shri Pranab Mukherjee on the Occasion of Release of a Commemorative Postage Stamp on Anagarika Dharmapala
  • President of India Releases a Commemorative Postage Stamp on Anagarika Dharmapala
  • Prime Minister's Office
  • Text of The Prime Minister, Shri Narendra Modi’s address at the ceremony held to rededicate, Sir H.N. Reliance Foundation Hospital and Research Centre, in Mumbai
  • PM rededicates Sir H.N. Reliance Foundation Hospital and Research Centre in Mumbai
  • PM greets the Nation on auspicious occasion of Bhai Dooj
  • Election Commission
  • Press Note
  • Schedule for bye-election to fill casual vacancies in the Legislative Assembly of NCT of Delhi – Regarding.
  • Schedule for General Elections to the Legislative Assemblies of Jharkhand and Jammu & Kashmir.
  • Min of Comm. & Information Technology
  • Minister for Communications & IT and Law & Justice, Shri Ravi Shankar Prasad Spoke at the Release Function of a Postage Stamp Commemorating Srimath Anagarika Dharmapala, the Great Buddhist Thinker and Visionary from Sri Lanka
  • Ministry of Finance
  • President of India to Inaugurate Three Day Accountants’ General Conference on Monday
  • Min of Home Affairs
  • Observance of the Rashtriya Ekta Diwas on 31st October
  • Min of Personnel, Public Grievances & Pensions
  • Dr. Jitendra Singh says Indian bureaucrats need constant re-orientation as they face new challenges every day

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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