Shishir Bhate, Swedish home furnishing retail giant Ikea, which had put on hold its $1-billion India investment plans in 2009, wants to take a relook at India’s retail growth story if the government allows 100 per cent foreign direct investment in multi-brand retail, said Union Commerce and Industry Minister Anand Sharma on board the prime [...]
Archive for the ‘FEMA Law’ Category
Ikea proposes India govt to allow 100% FDI in retail to set shop
Posted by admin on October 29th, 2010
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Reasons for not allowing FDI in retail
Posted by admin on October 27th, 2010
Ahead of US President Barack Obama’s maiden visit to India in his official capacity, Planning Commission Deputy Chairman Montek Singh Ahluwalia has firmly supported foreign entry into multi-brand retail in India. Currently, only 51 per cent foreign direct investment (FDI) in single-brand retail is allowed in India. The Department of Industrial Policy and Promotion (Dipp) [...]
RBI advise govt for lock-in period for FDI in hotels, tourism
Posted by admin on October 25th, 2010
The Reserve Bank of India (RBI) has advised the government to impose strict new riders and set up a monitoring mechanism to prevent a real estate bubble. That, the central bank fears, may be created due to diversion of foreign funds meant for hotels and tourism to acquisition of immovable property, circumventing foreign direct investment [...]
Ministerial panel to decide on issue of opening retail to foreign investment
Posted by khyati on October 6th, 2010
An inter-ministerial panel will decide on the contentious issue of opening organised retail to foreign investment after examining stakeholder feedback to the discussion paper put out by the government. “A panel of six ministries was constituted on September 27, which will be chaired by Kewal Ram, senior economic advisor in the consumer affairs ministry,” a [...]
FDI norms relaxed, will help retail firms JV with foreign retailers
Posted by khyati on October 1st, 2010
The Department of Industry and Policy has relaxed Foreign Direct Investment (FDI) rules which will mainly help retailfirms in joint venture with foreign retailers and the overseas NBFCs. Under the new dispensation, the condition the retailers have to use items bought from group wholesaler for internal consumption has been done away with. Foreign-owned non-banking finance [...]
Only FIIs raising money from several offshore investors can trade from Friday
Posted by khyati on October 1st, 2010
Foreign institutional investors (FIIs), who cannot certify that the money they manage has been raised from several offshore investors, will be barred from getting into new trades in the Indian stock market. Securities and Exchange Board of India (SEBI), which would reveal the list of non-compliant entities on its website, said that no-compliant and sub-accounts [...]
