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English Release 24-November 2014
Date Month Year
  • President's Secretariat
  • President of India to visit Karnataka and Maharashtra on November 25 and 26
  • President of India condoles the passing away of Murli Deora
  • Prime Minister's Office
  • Mr. Yohei Sasakawa calls on PM
  • Shri Ajit Doval, NSA, appointed as the Special Representative of India to conduct boundary negotiations and strategic consultations with China
  • English Rendering of PM’s statement to media outside Parliament House
  • PM's statement to media outside Parliament House
  • PM expresses sadness on the passing of Shri Murli Deora
  • Election Commission
  • Bangladesh MPs visit Election Commission Impressed by Indian Electronic Voting Machine
  • Facts at A Glance- Jharkhand
  • Min for Develop. of North-East Region
  • Promotion and Use of Hindi in the North East Region Development Programmes is Important Step in Mainstreaming North East to the Nation: Dr. Jitendra Singh
  • Min of Chemicals and Fertilizers
  • Felicitation to Indian Blind Cricket Team to South Africa by Union Ministers Shri Ananth Kumar & Shri Sarbanand Sonowal
  • Min of Defence
  • Avia Indra Joint Indo-Russia Exercise Enters Operational Phase
  • Go Green Drive by Cadets on The EVE of NCC Day
  • Min of Earth Science
  • Letter of Intent Between ESSO-MOES and UNESCO for Cooperation in the Field of Reducing Disaster Risks and Capacity Building in Earth Sciences Signed
  • Ministry of Finance
  • Quarterly Report on Public Debt Management for the Quarter July to September 2014 Released;
  • Auction for Sale (Re-Issue) of Government Stocks
  • Min of Health and Family Welfare
  • India and Sweden celebrate 5 years of bilateral collaboration in healthcare
  • Min of Human Resource Development
  • DG, UNESCO, Ms. Irina Bokova meets the Union Minister of Human Resource Development, Smt. Smriti Irani
  • Min of Information & Broadcasting
  • ‘Vithya’, ‘Womb on Rent’ and ‘A Rainy Day’ Discussed on IFFI Platform
  • Ms. Loreto Aravena of ‘I am not Lorena’ Meets the Press at 45th IFFI
  • Iffi 2014’s New Initiative ‘Talkathon@IFFI’ CONNECTS Virtual World with the Festival
  • Literature and News-Itemsboth are Likely to form Baseline for Cinema
  • ‘KILLA’ - A Realistic Fiction on Childhood Nostalgia
  • Min of Parliamentary Affairs
  • Shri M.Venkaiah Naidu condoles death of Shri Murli Deora
  • Min of Personnel, Public Grievances & Pensions
  • Combined Defence Services Examination (I), 2014
  • Min of Petroleum & Natural Gas
  • Global crude oil price of Indian Basket was US$ 77.39 per bbl on 21.11.2014
  • Ministry of Railways
  • INDO-FRENCH Seminar on Rail Sector Inaugurated
  • Min of Road Transport & Highways
  • Minister Flags off Delhi-Kathmandu-Delhi Bus Service on November 25
  • Min of Social Justice & Empowerment
  • ICT Can Help Government Empower PwDs and Lead to their Inclusion- Says Minister for Social Justice & Empowerment
  • Min of Urban Development
  • UNESCO lauds Heritage City Development Programme (HRIDAY)
  • Ministry of Water Resources
  • Storage Status of 85 Important Reservoirs of the Country as on November 20, 2014
  • Min of Skill Development, Entrepreneurship, Youth Affairs and Sports
  • Felicitation for Indian Team for Blind Cricket

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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