finance ministry has rejected a proposal by the Department ofIndustrial Policy and Promotion (DIPP) that had suggested dropping the mandatorythree-year lock-in for foreign direct investment in the real estate sector,affecting the prospects of the sector raising funds fromoverseas.The finance ministry has rejected the proposal from DIPPseeking to remove this (lock-in on FDI) clause, a government official...
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part of its efforts toliberalise the foreign direct investment (FDI) policy, the government has mooteda proposal under which foreign investments of over Rs 1,200 crore would need theclearance of the Cabinet Committee on Economic Affairs (CCEA). Currently, FDIproposals of over Rs 600 crore require CCEA clearance.This, ineffect, means that the finance minister, on the recommendation of the ForeignInvestment...
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Thegovernment is planning to tighten norms governing FDI through partly-paidshares, convertible warrants and units issued by venture capital funds (VCFs),as it looks to prevent misuse of these popular instruments.Thefinance ministry and the department of industrial policy & promotion (DIPP)have decided that the conditions such as sectoral ceilings,minimum-capitalisation and lock-in period governing...
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size="2"> PAWAN BALI
New Delhi
Jan. 17: Foreign Investment Promotion Board (FIPB) is likely to clear 31 FDI proposals on Monday.
Emirates Telecommu-nications’ (Etisalat) proposal to further increase its stake in Etisalat DB Telecom will come for clearance before FIPB. The UAE-based company plans to buy five per cent stake from Genex Exim Ventures — a Chennai-based...
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India received $1.5 billion foreign direct investment in December 2009,an increase of over 10 per cent over that in the same month of previous year, agovernment official said on Thursday. Foreign direct investment was $1.36billion in December 2008.Theoverseas inflows, however, declined marginally to $20.9 billion inApril-December compared to $21.15 billion in the corresponding period last year,the...
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plans to introduce a single FDI document, which will help to simplify the foreign direct investment process, by end-fiscal and is currently discussing the various modalities, Commerce and Industry Minister Anand Sharma said."We have put this document for discussions with all stakeholders to invite their comment which is expected to close by 31March, we will have a single FDI document to ensure simplification,...
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heels of Salim Group of Indonesia's foray into West Bengal's realty arena, the UK-based REIT Asset Management, which manages real estate assets valued at over $6.8 billion (Rs 27,880 crore) globally, has teamed up with a local developer, Eden Realty Ventures, to build at least two projects with a capital outlay of Rs 465 crore. This sets the stage for fresh foreign direct investment (FDI) in the city's...
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KUALALUMPUR: The United Nations Conference on Trade and Development (UNCTAD) says theglobal flows in foreign direct investment (FDI) dropped by about 40 per cent toUSD 1 trillion in 2009 from USD 1.7 trillion in 2008.UNCTADindicated this in the "Monitor", its new quarterly publication and the secondissue released yesterday.The organisation also reported that FDIflows remained relatively stable during...
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India received $1.5 billionforeign direct investment in December 2009, an increase of over 10% over that inthe same month of previous year, a government official said on Thursday. FDI was$1.3 billion in December 2008. The overseas inflows, however, declinedmarginally to $20.9 billion in April-December compared to $21.1 billion in thecorresponding period last year, the official said.This is the thirdconsecutive...
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Age Correspondent Mumbai Jan. 11: Come March 31, there will be one single document as the foreign direct investment policy. It will replace the plethora of 174 documents/press notes that presently govern FDI. Disclosing this at the Bancon 2010, the Union commerce and industry minister, Mr Anand Shar-ma, said this single document will substitute the 174 documents. The process of finalising the document...
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