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New Delhi, The government on Wednesday eased <keyword id="19946825" type="General" weightage="20" keywordseo="foreign-direct-investment" source="keywords">Foreign Direct Investment</keyword> (<keyword id="19946824" type="General" weightage="20" keywordseo="fdi" source="keywords">FDI</keyword>) norms in the space sector by allowing 100 per cent overseas investment in making components for satellites, as part of efforts to attract overseas players and private companies into the segment. The decision was taken at the <keyword id="19901283" type="General" weightage="20" keywordseo="cabinet" source="keywords">Cabinet</keyword> meeting chaired by Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword>. Now, the satellite sub-sector has been divided into three different activities with defined limits for foreign investment in each such sector, according to an official statement. Presently, FDI in the space sector is allowed up to 100 per cent in the area of satellite establishment and operations through government route only. By changing the current policy, the government has allowed up to 74 per cent FDI under automatic route in satellites-manufacturing and operation, satellite data products, and ground and user segments. Beyond this limit, government approval will be required in these areas for FDI, it said. Up to 49 per cent FDI is allowed through the automatic route for launch vehicles and associated systems or subsystems, creation of spaceports for launching and receiving spacecraft. Beyond 49 per cent, FDI in these activities would require government approval, it added. Further, up to 100 per cent overseas investments are permitted under the automatic route for manufacturing of components and systems/sub-systems for satellites, ground and user segments. This increased private sector participation would help generate employment, enable modern technology absorption and make the sector self-reliant. It is expected to integrate Indian companies into global value chains. Through the decision, the government seeks to liberalise the FDI policy provisions in the space sector by prescribing easy entry routes and providing clarity for overseas investments in satellites, launch vehicles and associated systems or subsystems, creation of spaceports for launching and receiving spacecraft and manufacturing of space-related components and systems. With this, companies will be able to set up their manufacturing facilities within the country, duly encouraging Make In <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> initiatives of the government.

Govt eases FDI norms in space sector; 100% in making components for satellites

The Cabinet Committee on Economic Affairs on Wednesday approved the FDI proposal for acquisition of 12.32 per cent of equity share capital, on a fully diluted basis, of <keyword id="7564494" type="COMPANY" weightage="20" keywordseo="ATC-Telecom-Infrastructure-Pvt-Ltd">ATC Telecom Infrastructure Pvt Ltd</keyword> by ATC Asia Pacific PTE Ltd. The acquisition is being done as a result of exercise of option by <keyword id="563005" type="COMPANY" weightage="20" keywordseo="Tata-Tele-Services-Ltd">Tata Tele Services Ltd</keyword> (TTSL) and <keyword id="5004980" type="COMPANY" weightage="20" keywordseo="tata-sons-pvt-ltd">Tata Sons Pvt Ltd</keyword> (TSPL). This share purchase would lead to <keyword id="10331238" type="UNKNOWN" weightage="20" keywordseo="foreign-direct-investment-inflow">foreign direct investment inflow</keyword> of ₹2,480.92 crore, a government statement said. With this approval, the cumulative FDI of ATC Asia Pacific PTE Ltd (<keyword id="10331237" type="COMPANY" weightage="20" keywordseo="atc-singapore">ATC Singapore</keyword>) into ATC Telecom Infrastructure Pvt Ltd (<keyword id="2206370" type="COMPANY" weightage="20" keywordseo="ATC-India">ATC India</keyword>) will be ₹5,417.2 crore in financial years 2018-19 to 2020-21. ATC Telecom Infrastructure Pvt Ltd is engaged in the business of providing <keyword id="10331236" type="UNKNOWN" weightage="20" keywordseo="passive-telecom-infrastructure-services">passive telecom infrastructure services</keyword> to telecom operators, pursuant to various approvals granted to it by <keyword id="116246" type="COMPANY" weightage="20" keywordseo="Department-of-Telecommunications">Department of Telecommunications</keyword>. The company has existing FDI approval up to 86.36 per cent and with this approval, it will rise to 98.68 per cent, on a fully diluted basis. The inflow of foreign investment to India will spur economic growth; as well as foster innovation, the government release said. FDI up to 100 per cent is allowed in telecom services sector wherein 49 per cent is under automatic route and beyond 49 per cent through government route, subject to observance of licensing and security conditions by the licensee as well as investors as notified by the Department of Telecommunications (DoT) from time to time.

Cabinet approves ₹2,480 crore FDI in ATC Telecom

<keyword id="6358777" type="LOCATION" weightage="20" keywordseo="New-Delhi">New Delhi</keyword>, The <keyword id="26362" type="ORGANIZATION" weightage="20" keywordseo="Government">government</keyword> has received over 120 <keyword id="44749" type="ORGANIZATION" weightage="20" keywordseo="Foreign-Direct-Investment">foreign direct investment</keyword> (FDI) <keyword id="10476259" type="UNKNOWN" weightage="20" keywordseo="proposals-worth">proposals worth</keyword> about ₹12,000 crore from China since April, when it was made mandatory for a company from countries sharing land border with India to invest in any sector only after getting government approval, sources said. As per that decision, FDI proposals from China need government approval for investments in India in any sector. An inter-ministerial committee has been formed by the government to scrutinise these proposals, they said adding most of the investments are for <keyword id="2206799" type="PERSON" weightage="20" keywordseo="brownfield-projects">brownfield projects</keyword> (means in existing Indian companies). In April this year, the Department for Promotion of Industry and Internal Trade (DPIIT) came out with a press note stating that a company or an individual from a country that shares land border with India can invest in any sector here only after getting government approval. The decision was taken to curb opportunistic takeovers or acquisitions of <keyword id="435048" type="PERSON" weightage="20" keywordseo="domestic-firms">domestic firms</keyword> due to the current COVID-19 pandemic. "We have received 120-130 FDI proposals from China, worth about Rs 12,000 crore - Rs 13,000 crore," they added. India received FDI from China worth USD 2.43 billion (Rs 15,526 crore) between April 2000 and September 2020. Further sources said that certain Chinese companies have applied for registration for bidding in government contracts and those proposals have been sent to the home ministry. There are no restrictions on Chinese firms for bidding in projects funded by multilateral institutions, they said. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-spicejet-interglobe-aviation-tata-motors-pfizer-asian-paints-niit-lupin-and-others/articleshow/79849749.cms">Top stocks to watch – SpiceJet, InterGlobe Aviation, Tata Motors, Pfizer, Asian Paints, NIIT, Lupin, and others</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-mrs-bectors-food-specialities-ipo-allotment-status-online/articleshow/79808672.cms?upcache=2">Mrs Bectors Food Specialities IPO allotment today: Here’s how to check share allotment status</a> <a href="https://www.businessinsider.in/business/startups/news/google-microsoft-invest-in-dailyhunt-for-its-short-video-platform-josh-making-it-the-latest-unicorn-in-india/articleshow/79850804.cms">Google, Microsoft invest in DailyHunt for its short video platform Josh – making it the latest unicorn in India</a>

Indian government has reportedly received 120-130 FDI proposals worth ₹12,000 crore from China since April

<ul><li>On Friday, the Central Statistics Office (CSO) in <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword> stated that the Indian economy has grown by 8.2% during <keyword id="6846461" type="UNKNOWN" weightage="20" keywordseo="Q1-2018">Q1 2018</keyword>. </li><li>While this may make India the <keyword id="104231" type="PERSON" weightage="20" keywordseo="fastest-growing-economy">fastest growing economy</keyword> in the world at present, the added benefits of a growing economy are not at par with that pace. </li><li>That being said, the growth numbers for India has resulted in a stronger rupee since the markets opened today morning.</li></ul>While the International Monetary Fund may have <a href="https://www.businessinsider.in/why-the-imf-revised-indias-growth-projection-and-why-it-doesnt-matter/articleshow/65024850.cms">revised</a> its estimates for India’s growth this year, the Central Statistics Office (CSO) <a href="https://www.bloomberg.com/news/articles/2018-08-31/india-s-economic-growth-continues-world-beating-pace-at-8-2">announced</a> that the Indian economy grew by 8.2% between the months of April to June. This puts India at the helm as the world’s fasting growing economy beating China’s top spot., which witnessed a growth of 6.7%. The Finance Minister tweeted that the reforms put in place by government as well as the fiscal prudence shown by the regulators that are allowing the economy to grow even in the midst of global turmoil. That being said, overtaking China might have a lot to do with the ongoing <a href="https://www.businessinsider.in/indian-products-can-be-more-competitive-in-the-shadow-of-the-us-china-trade-war/articleshow/65294615.cms">trade war</a> between the Asian nation and the United States. 
	
	<div type="twitter" handle="arunjaitley" handlename="Arun Jaitley" image="http://pbs.twimg.com/profile_images/378800000828197225/f1d53aeab8f0534c7d73b0fbd5651130_normal.png" favoritecount="13245" retweetcount="3372" status="India’s GDP for the first quarter this year growing at 8.2% in otherwise an environment of global turmoil represent… https://t.co/1aVLJCOifl" createdat="1535725757000" id="1035534996877049856"></div>





 
	
	<div type="twitter" handle="arunjaitley" handlename="Arun Jaitley" image="http://pbs.twimg.com/profile_images/378800000828197225/f1d53aeab8f0534c7d73b0fbd5651130_normal.png" favoritecount="3314" retweetcount="596" status="Reforms and fiscal prudence are serving us well. India is witnessing an expansion of the neo middle class." createdat="1535725836000" id="1035535329036525569"></div>





 The Economics Affairs Secretary, Subhash Chandra Garg, stated that India seems to be on track in its goal of meeting more than 7.5% growth for FY2018-19. 
	
	<div type="twitter" handle="SecretaryDEA" handlename="Subhash Chandra Garg" image="http://pbs.twimg.com/profile_images/893364676943241217/sYceriFF_normal.jpg" favoritecount="338" retweetcount="83" status="Excellent growth performance in I qrtr. 8.2% overall growth, 13.5% growth in manufacturing and over 10% in capital… https://t.co/0MGgQHxxWh" createdat="1535723306000" id="1035524719074635776"></div>





 The driving forces behind this growth are the country’s manufacturing and the consistent increase in the demand of consumption goods. A report <a href="https://www.businessinsider.in/local-phone-manufacturing-saves-india-3-trillion-through-make-in-india/articleshow/65517201.cms">published</a> by the Indian Cellular and Electronics Association (ICEA) analysed that the import substitution of cell phone manufacturing results in saving of ₹3 trillion for India. Growth without the benefits The main benefits of a growing economy, in theory, are employment generation, higher living standards, stimulating new investments, and a greater fiscal dividend. But the fact of the matter is that despite growth, the positive externalities are yet to present themselves. It’s not that jobs aren’t being created or that investments aren’t increasing, but their pace is at parity with the growth trajectory. The most recent report by the<a href="https://www.businessinsider.in/indias-wage-growth-significantly-trails-economic-growth-says-the-ilo/articleshow/65488218.cms"> International Labour Organisation (ILO)</a> highlights how India’s growth hasn’t been inclusive with a gaping rural-urban divide as well as a gender-wage inequality. And, speaking of <keyword id="44749" type="ORGANIZATION" weightage="20" keywordseo="Foreign-Direct-Investment">foreign direct investment</keyword> (FDI), while there has been a steady increase, it’s important to remember that it’s largely <a href="https://www.bloombergquint.com/opinion/2018/05/18/where-is-all-the-fdi-into-india-really-coming-from-and-going-to#gs.hYSow9Y">due to</a> ‘preferential’ tax treaties between India and countries like Mauritius and Singapore. The top three sectors to gain from FDI have been services, telecommunications and computer services. While long-term benefits are yet to pick their pace, in the short run we can see that the rupee has already <a href="https://www.livemint.com/Money/PzIU47dwgmmKyIS2L8WdDP/Rupee-strengthens-against-US-dollar-after-GDP-beats-estimate.html">strengthened</a> against the dollar since the news of India’s growth broke on Friday. It has increased to trading at ₹70.84 a dollar from ₹71 a dollar at market opening on Monday.

India overtakes China to become the world’s fastest growing economy in Q1 2018

The government has permitted <keyword id="44749" type="ORGANIZATION" weightage="20" keywordseo="Foreign-Direct-Investment">foreign direct investment</keyword> (FDI) of up to 74 per cent under the automatic route in the defence sector with a view to attracting overseas investors, according to a press note issued by the DPIIT on Thursday. However, foreign investments in the defence sector would be subject to scrutiny on the grounds of national security and the government reserves the right to review any foreign investment in the sector that affects or may affect national security, the Department for Promotion of Industry and Internal Trade (DPIIT) said in the note. As per the current FDI policy, 100 per cent overseas investments are permitted in the defence industry -- 49 per cent under the automatic route, while beyond that government approval was required. According to the Press Note 4 (2020 series): "FDI up to 74 per cent under automatic route shall be permitted for companies seeking new industrial licences". It also said that infusion of fresh investment up to 49 per cent, in a company not seeking industrial licence or which already has government approval for FDI in defence, shall require "mandatory" submission of a declaration with the defence ministry in case change in equity/shareholding pattern or transfer of stake by existing investor to new foreign investor for FDI up to 49 per cent, within 30 days of such change. Proposal for raising FDI beyond 49 per cent from such companies will require government approval, it added. "The decision will take effect from the date of FEMA (Foreign Exchange Management Act) notification," it said. The decision to permit up to 74 per cent FDI in the <keyword id="2377476" type="PERSON" weightage="20" keywordseo="defence-manufacturing">defence manufacturing</keyword> through the automatic route was announced by Finance Minister Nirmala Sitharaman in May while announcing the fourth tranche of the Rs 20 lakh crore stimulus package for the coronavirus-hit economy. In July 2018, the government had relaxed foreign direct investment norms in the defence sector by allowing up to 49 per cent FDI under the automatic route. The move was aimed at boosting domestic industry as India imports about 70 per cent of its military hardware. According to the DPIIT data, defence industries has received FDI equity inflows of USD 9.52 million (Rs 56.88 crore) during April 2000 and March 2020. Under the government route, foreign investors have to take prior approval of the respective ministry/department, while in the automatic route, the investor just has to inform the RBI after the investment is made. Total FDI into India increased by 18 per cent to USD 73.45 billion in 2019-20. SEE ALSO: <a href="https://www.businessinsider.in/sports/news/dailyhunt-app-founders-confirm-ipl-2020-associate-sponsorship/articleshow/78169667.cms">EXCLUSIVE: Dailyhunt founders confirm IPL 2020 associate sponsorship — promise new release for Josh ahead of India’s biggest cricket tournament</a> <a href="https://www.businessinsider.in/stock-market/markets/news/hcl-tech-enters-the-list-of-top-10-most-valued-companies-in-india/articleshow/78165311.cms">HCL Tech enters the list of top 10 most valued companies in India</a> <a href="https://www.businessinsider.in/science/space/news/first-intact-planet-found-circling-a-dead-star-this-jupiter-sized-anomaly-is-in-orbit-rather-than-being-pulled-apart-at-the-seams/articleshow/78166938.cms">First 'intact' planet found circling a dead star — this Jupiter-sized anomaly is in orbit rather than being pulled apart at the seams</a>

Foreign investors can now pump in up to 74 % FDI under automatic route in India's defence sector

<ul><li><keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> India is curtailing its wholesale business to comply with new <keyword id="436047" type="COMPANY" weightage="20" keywordseo="Ecommerce">ecommerce</keyword> norms. </li><li>It has almost stopped dealing in direct buying of products from companies. </li><li>The online shopping platform has asked suppliers to directly connect with sellers on its ‘Alpha’ and ‘Beta’ intermediary platforms.</li><li>This move has come amid massive changes in e-commerce norms especially for foreingn companies under <keyword id="44749" type="ORGANIZATION" weightage="20" keywordseo="Foreign-Direct-Investment">foreign direct investment</keyword>. </li></ul>Flipkart is looking to stop buying products directly from companies, in a move to wind up its wholesale business. It is now taking the long route of asking their suppliers to connect with its preferred sellers instead. This came after the new e-commerce regulations put in place by the government, late last year. The law now bars online retailers from clinching exclusive deals with product sellers thereby affecting market dynamics. The rules also said that online marketplaces cannot control or possess their own inventories. Sellers who source more than 25% of goods from affiliates, will be considered as ‘owned’ by Flipkart. At arm’s length In response, the Walmart-owned company is changing its role in sourcing. It will now act as a platform for its suppliers where they can directly choose their best sellers. Flipkart had earlier developed two intermediary platforms codenamed ‘Alpha’ sellers and ‘Beta’ sellers for wholesale purposes. Yet, this is not a long-term solution, not after the regulations. And, the e-commerce giant is taking the first step of exiting wholesale business all-together. This will help them maintain an arm’s length distance for regulatory purposes, while keeping the supply going. “The <keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword> owned company is yet to decide whether to completely fold Flipkart India, the wholesale entity, or scale it down to service only small sellers or brick-and-mortar channels,” company executives selling products at Flipkart told <a href="https://tech.economictimes.indiatimes.com/news/internet/flipkart-checks-direct-buying-from-companies/70166500">Economic Times</a>. It is also known that the company had started this exercise in April this year. SEE ALSO: <h1 style="margin-top: 0px; margin-bottom: 10px; padding-bottom: 20px; border-bottom: 1px solid rgb(238, 238, 238); font-variant-numeric: normal; font-variant-east-asian: normal; font-stretch: normal; font-size: 28px; line-height: 1.2em; font-family: LabGrotesque-Black, Helvetica, Arial, sans-serif; vertical-align: baseline; color: rgb(17, 21, 22); background-color: rgb(255, 255, 255);"><a href="https://www.businessinsider.in/amazon-flipkart-might-end-deep-discounts-of-products/articleshow/70155152.cms">Amazon, Flipkart ask brands to take the lead on ‘discounting’</a> </h1>

You Searched For "Foreign Direct Investment" and got 6 results

Govt eases FDI norms in space sector; 100% in making components for satellites

PTI

Cabinet approves ₹2,480 crore FDI in ATC Telecom

IANS

Indian government has reportedly received 120-130 FDI proposals worth ₹12,000 crore from China since April

PTI

India overtakes China to become the world’s fastest growing economy in Q1 2018

Prabhjote Gill

Foreign investors can now pump in up to 74 % FDI under automatic route in India's defence sector

PTI

Flipkart is looking to exit wholesale business to toe the government's line, says report

BI India Bureau

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