Where are isi group forex investment tribals unhappy with Trinamool Congress? When does the FIFA World Cup begin? 15 sectors including defence, banking, construction, single brand retail, broadcasting and civil aviation. The move comes two days after the Bharatiya Janata Party-led National Democratic Alliance suffered a resounding defeat in the Bihar Assembly elections.
It also comes a day before the Prime Minister Narendra Modi’s visit to the UK where he would have had to otherwise face tough questions on his government’s major initiatives to spur foreign investment. It also comes just ahead of the crucial Winter Session of Parliament, slated to start on November 26, where important Bills such as the Goods and Services Tax Bill are expected to be taken up for passage. For facilitating faster approvals on most of the proposals, the government also raised the threshold limit of approval by Foreign Investment Promotion Board from the earlier Rs 3,000 crore to Rs 5,000 crore. As per the extant policy, FIPB considers foreign investment proposals of inflow up to Rs 3,000 crore and those above that limit are placed for consideration of the Cabinet Committee on Economic Affairs. FDI regime ever undertaken by the Centre.
With the Prime Minister’s approval and after several rounds of inter-ministerial consultations, we have brought out about 35 changes in the FDI policy cutting across 15 sectors. We have expedited these changes over the last couple of weeks. According to an official release, the crux of these reforms is to further ease, rationalise and simplify the process of foreign investments in the country and to put more and more FDI proposals on automatic route instead of Government route where time and energy of the investors is wasted. With this round of Reforms, the government has demonstrated that India is unstoppable on the path of economic development It is also clear that India is a country which is more than ready to integrate with the global economy. The official release said refining of foreign investment norms in construction is to facilitate the construction of 50 million houses for poor. It added that opening up of the manufacturing sector for wholesale, retail and e-commerce is aimed at motivating industries to Make In India and sell it to the customers here instead of importing from other countries. The Modi government in the last few months had introduced many FDI policy reforms in sectors such as defence, rail infrastructure, construction development, insurance, pension, medical devices, white label ATM operations, investments by NRIs on non-repatriation basis and has introduced composite cap for foreign investment.
2016 Study of Ease of Doing Business. Besides, many global institutions have projected India as the leading destination for FDI in the World. IMF has branded India as the brightest spot in the global economy whereas the World Bank has retained the growth forecast for India at 7. Construction sector: The struggling construction sector will be a major beneficiary as radical changes in FDI norms have been brought in to boost demand for steel, cement and spur economic activity, ultimately with an aim to help build 50 million affordable houses for the poor.
Several conditions have been removed including the area restriction of floor area of 20,000 sq. 5 million which needed to be brought in within six months of the commencement of business. Also, foreign investors have been allowed to exit and repatriate their investment under automatic route before the completion of the project provided they complete a lock-in period of three years. To ensure that ownership and control remain in Indian hands, Government approval, of course, will be required in case of infusion of fresh foreign investment within the permitted automatic route level, resulting in change in the ownership pattern or transfer of stake by existing investor to new foreign investor. AH64 Apache helicopters and to compete for additional manufacturing work across Boeing platforms, commercial and defence. The latest FDI reforms are expected to result in more such JVs in defence.