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<ul><li>India’s new FDI regulations will now allow Apple to set up its own online shop before having a brick-and-mortar store in place.</li><li>The webstore is likely to come up within the next three to five months.</li><li>Apple’s plans for its signature Apple Store are also green lit with the new FDI rules including exports and contract manufacturing as local sourcing.</li></ul>As popular as Apple is worldwide, it has spent too many years under the wing of tough foreign direct investment (FDI) rules in India. Finally, Indian Minister of Commerce Piyush Goel has eased the sourcing norms of single brand retailing, which now allows foreign brands to sell online without a brick-and-mortar presence. This is good news for Apple which hasn’t been able to sell its full range of products online because it doesn’t yet have its signature ‘<a href="https://www.businessinsider.in/apple-store-to-launch-in-mumbai-soon/articleshow/69246612.cms">Apple Stores</a>’ here. "We love our customers in India and we're eager to serve them online and in-store with the same experience and care that Apple customers around the world enjoy," Apple told IANS. Setting up a webstore will allow the company to sell its products directly and offer up its full range of products — from iPhones to MacBooks and iPads. "It will take us some time to get our plans underway and we'll have more to announce at a future date," Apple noted. And users might not have to wait very long. An indian <keyword id="8037445" type="UNKNOWN" weightage="20" keywordseo="apple-webstore">Apple webstore</keyword> will be likely be up and running in the next three to five months, according to company executives who spoke to the <a target="_blank" href="https://m.economictimes.com/tech/hardware/bigger-bite-apple-to-sell-directly-in-india-through-online-first/amp_articleshow/70884943.cms#stickyBanner">Economic Times.</a> The tussle between online and offline sales Until now, Apple had to rely on Amazon India, Flipkart, Paytm Mall and other third party sellers to sell online. These e-commerce portals were offering Apple products at heavy discounts to boost sales — something that executives felt wasn’t quite ‘<a href="https://www.businessinsider.in/apples-iphone-se-6-6plus-6splus-no-longer-for-sale-in-india/articleshow/70226515.cms">on brand</a>’ for Apple. With FDI norms eased, Apple will be able to exercise full control of its products and pricing in a market, which it was directly kept away from. Until now, the government had a rule which said said single-brand retailers will have to source 30% of materials locally, to have a physical presence. Since <a href="https://www.businessinsider.in/apple-iphone-mass-production-is-shifting-from-china-to-india-solving-a-key-problem-for-the-company/articleshow/68891132.cms">most of its manufacturing is already contracted</a>, Apple could not meet the norm to open its signature ‘Apple Stores’ offline. Without an offline store, it couldn’t launch an online store, sucking it into a vicious cycle. Winds of change For years, Apple has been lobbying with the government to relax the FDI norms. The Indian government, which is looking to boost its economy and investments, has now expanded the definition of 30% local sourcing to contract manufacturing and exports as well. While this will boost Apple’s prospects in the country, the US tech giant had already been planning on meeting the earlier norms in order to open its <a href="https://www.businessinsider.in/apple-store-to-launch-in-mumbai-soon/articleshow/69246612.cms">‘Apple Store’ in Mumbai</a>. But now, we could see many more stores, and many more products online; allowing it to compete in Indian premium market better. See also: <a href="https://www.businessinsider.in/a-short-trip-to-india-showed-me-just-how-badly-apple-is-screwing-up-in-the-worlds-biggest-democracy/articleshow/68021591.cms">A short trip to India showed me just how badly Apple is screwing up in the world's biggest democracy</a> <a href="https://www.businessinsider.in/apple-iphone-mass-production-is-shifting-from-china-to-india-solving-a-key-problem-for-the-company/articleshow/68891132.cms">Apple iPhone mass production is shifting from China to India — solving a key problem for the company</a> <a href="https://www.businessinsider.in/oneplus-smartphone-sales-in-india-are-nearly-double-that-of-apple-and-samsung/articleshow/70465846.cms">OnePlus smartphone sales in India are nearly double that of Apple and Samsung</a>

Apple's webstore could be up and running in 5 months as India eases FDI norms

<ul><li><keyword id="6357808" type="DEFINITION" weightage="20" keywordseo="enforcement-directorate">Enforcement Directorate</keyword> (<keyword id="12163" type="COMPANY" weightage="20" keywordseo="Ed">ED</keyword>) has commenced a <keyword id="6360910" type="UNKNOWN" weightage="20" keywordseo="probe">probe</keyword> into <keyword id="6437601" type="ORGANIZATION" weightage="20" keywordseo="etihad">Etihad</keyword> Airways’s investment in <keyword id="6358200" type="ORGANIZATION" weightage="20" keywordseo="jet-airways">Jet Airways</keyword>’ loyalty programme. </li><li>The agency is attempting to establish whether Jet Airways violated foreign exchange protocols when it sold a 50.1% stake in its frequent flyer programme to Etihad in March 2014. </li><li>The ED wants to ascertain whether Etihad received the necessary approvals from the now-defunct Foreign Investment and Planning Board (FIPB) before making the investment. </li></ul>The Enforcement Directorate (ED), India’s financial crime agency, has commenced a probe into Etihad Airways’s investment in Jet Airways’ loyalty programme, as per various <a href="https://www.business-standard.com/article/companies/ed-probes-jet-airways-frequent-flyer-loyalty-programme-deal-with-etihad-119050900046_1.html">media reports</a>. In March 2014, the Abu Dhabi-based Etihad <a href="https://www.business-standard.com/article/companies/etihad-invests-150-million-in-jet-airways-loyalty-biz-114032500747_1.html">bought a $150 million </a>stake in Jet Privilege as part of a larger investment in Jet. The ED is attempting to establish whether Jet Airways violated foreign exchange protocols when it sold a 50.1% stake in its frequent flyer programme to Etihad. It has reportedly been questioning executives from Jet on the structure of the deal. The economic intelligence agency wants to ascertain whether Etihad received the necessary approvals from the now-defunct Foreign Investment and Planning Board (FIPB) before making the investment. India’s foreign investment laws prohibit a foreign shareholding of more than 49% in most sectors. However, Etihad was able to take a majority stake in Jet Privilege because it was reportedly classified<a href="https://www.business-standard.com/article/companies/ed-probes-jet-airways-frequent-flyer-loyalty-programme-deal-with-etihad-119050900046_1.html"> as an “ air transport services” firm</a> - a sector that allows <keyword id="44528" type="ORGANIZATION" weightage="20" keywordseo="FDI">FDI</keyword> of more than 49% through the automatic route . This could be something that ED officials are taking issue with since there is some ambiguity as to whether a frequent flyer programme can be considered an air transport services company. A spokesperson from Etihad told <a href="https://www.livemint.com/companies/news/ed-investigates-etihad-airways-investment-in-jet-privilege-1557343006810.html">Mint</a> that the airline had complied with all regulatory requirements in regards to the Jet Privilege investment. The probe comes at a particularly testy time for Jet Airways. The airline, which has debts of $1 billion, was <a href="https://www.businessinsider.in/jet-airways-last-flight-tonight-will-increase-airline-ticket-cost/articleshow/68925023.cms">forced to temporarily ground its operations </a>in mid-April after its creditors refused to extend a tranche of emergency funding. On May 7th, the pilots' union of the airline <a href="https://www.businessinsider.in/jet-pilots-seek-supreme-courts-help-to-restart-operations/articleshow/69227435.cms">lobbied the Supreme Court </a>to direct the consortium of lenders to release funds to restart operations. Jet’s creditors are currently seeking bids from potential investors to sell a sizeable stake in the company. Bidding closes at the end of this week. If Jet is unable to secure the backing of an investor, it might be the end of the road for the airline. This isn’t the first time that Jet has been the subject of a government probe. In August 2018, the Ministry of Corporate Affairs was said to be investigating the airline for the <a href="https://www.business-standard.com/article/economy-policy/mca-probes-jet-airways-on-suspicion-of-siphoning-funds-sources-118082001278_1.html">alleged diversion of funds. </a> SEE ALSO: <a href="https://www.businessinsider.in/jet-airways-last-flight-tonight-will-increase-airline-ticket-cost/articleshow/68925023.cms">Jet Airways might fly for the last time tonight and that's bad news for travellers</a> <a href="https://www.businessinsider.in/jet-needs-emergency-funding-of-4-billion-to-stay-airborne-until-a-buyer-swoops-in/articleshow/68915745.cms">Jet needs emergency funding of ₹4 billion to stay airborne until a buyer swoops in</a>

India’s financial crime agency is investigating Etihad’s 2014 investment in Jet’s loyalty programme

New Delhi, Dec 25 () The Department for Promotion of Industry and Internal Trade (DPIIT) is expected to soon issue a clarification on the issues raised by certain stakeholders over the government's decision to permit 26 per cent FDI in digital media sector, according to sources.
Certain industry players and experts have stated that the move to cap foreign direct investment (FDI) in digital media sector to 26 per cent throws up questions that need clarifications as some of those who were looking to raise funds could be restricted.
There are mainly two issues -- how the FDI policy of the sector would treat news aggregators and what would happen to those digital media companies where overseas investment is over 26 per cent -- that need clarification.
On these matters, the department is expected to issue clarification soon, a source said.
The DPIIT has already taken views of the Information and Broadcasting Ministry on the issue.
Deloitte India Partner Jehil Thakkar had said that clarity was needed on how to treat cases of television broadcasters that stream news online, but are allowed 49 per cent FDI.
"What happens to those, whether they qualify under 26 per cent or 49 per cent (FDI)? What happens to news websites which are 100 per cent foreign entity?" he said.
Internet and Mobile Association of India too had sought clarification on the issue.
In a representation to the DPIIT, it stated that the decision will have impact on startup ecosystem as continued FDI is critical to enable Indian digital media startups to achieve global scale.
"Several foreign strategic intermediaries have set up their operations in India, as digital media was categorized as 100 per cent FDI under the automatic route. A clarification on the non-applicability of the new FDI measure would be critical for them to continue making massive investments in India," it added. RR BAL

DPIIT to soon issue clarification on 26 pc FDI in digital media sector

<ul><li>Regulation of OTT platforms and digital news providers will now fall under the gambit of the Information and Broadcasting (I&amp;B) Ministry instead of the Ministry of Electronics and Information Technology (MeiTY).</li><li>With the winter session of parliament right around the corner, many are nervous that this could indicate more than just the changing of the guard. </li><li>Here are the burning unanswered questions that the online community is wondering about.</li></ul>The regulation of OTT platforms like <keyword id="128682" type="COMPANY" weightage="20" keywordseo="Netflix">Netflix</keyword>, HotstarDisney+, Amazon Prime Video and others has been pulled from the Ministry of Electronics and Information Technology (MeiTY) and handed off to the Information and Broadcasting (I&amp;B) Ministry. Aside from the changing of the guard, the government is yet to shed light on what it actually means for the OTT channel and news content curators themselves. One can only assume that a new regulatory framework will be put in place to address the challenges that have cropped in recent years. The winter session of Parliament is also right around the corner. “Although there is little to no clarity about what this entails for different types of intermediaries, platform and content creators, it portends a regime with more interference from the Ministry of I&amp;B and less reliance on self-regulation by the OTT platforms extending the censorship heavy legacy to the Internet,” technology lawyer and founder of the Software Freedom Law Center (SFLC) told Business Insider. Despite the ambiguity, Internet Freedom Foundation chair and founder of SaveTheInternet Raman Chima, also believes that this is more than just a reorganisation of departments. “It does indicate government intent. That is definitely worrying. This change was made without any proper public consultation,” he explained on <a href="https://twitter.com/tame_wildcard/status/1326553154893217795">Twitter</a>. Here are some of the unanswered questions around what the change in regulations could mean for OTT platforms and news content providers: <ul><li>Will the government be holding a discussion with stakeholders before implementing new regulations?</li></ul>Some experts believe that there is a trend in the making. First, the government added a regulatory structure around foreign direct investment (FDI) and now, it’s looking to regulate content. <ul><li>Will the new regulations be on par with current regulations currently in place?</li></ul>The key obstacle they will face is that, at a technical level, broadcast, print and digital aren’t the same. This will make treating them as the same increasingly difficult. <ul><li>How will user-generated content be regulated on platforms like YouTube, Facebook and others?</li></ul>While OTT platforms curate content and are responsible for what goes up on the platform, YouTube and Facebook are ‘intermediaries’. This means that they do take any responsibility for the content that is posted on their site, and instead pass the buck onto individual users. <ul><li>How will digital news media be defined? Will personal channels like Dhruv Rathi and Akash Banerjee come under digital news media?</li></ul>The mediums used to dispense the news in the digital era expands well beyond the written word or even structured news publications. There are influencers like Dhruv Rathi analysing the news, personalised newsletters that people can subscribe to, instagram alerts and so much more. The new regulations will have to define what amounts to news, and what does not. <ul><li>Will every news organisation on the internet will have to register itself?</li></ul>Not every news publication exists in the brick-and-mortar world, some are only digital. In fact, the freedom to register a website and dispense content at a minimal cost is of the primary pros of being on the internet. But non-digital news organisations have to register and get government approval before they can take off. If the same applies to the online world, it should lead to a drastic cut in the number of publications able to report the news. <ul><li>Will this mean nobody can post on YouTube or Facebook if they’re not registered?</li></ul>In addition to channels and influencers, day-to-day users also express their opinion and share the news online. Like FM channels, will this mean that those who are not registered will no longer be allowed to post about the news on social networking hubs like Facebook, Twitter and YouTube? Will generic vlogs be flagged or taken down should they make mention of any current events? <ul><li>Will there be a cap on subscriptions and memberships, or a minimum rate that can be charged?</li></ul>News publications and individuals are also offering newsletters and subscriptions. The new slew of regulations hold the potential to cap the number of people who can sign up. They could also dictate a ceiling price that would limit how much can be charged for such services. <ul><li>Is the government going to block any news outfit or OTT that’s not registered in India?</li></ul>In addition to the publications in India, it’s uncertain what the regulations will mean for foreign entities. While they do report on India, without registering with the government on par with print regulations the government may block access. <ul><li>Will content rules for OTT platforms now be the same as the ones for television channels?</li></ul>Television channels have to adhere to strict rules about what can and cannot be said while OTT platforms do not. This has been one of the critical reasons behind the success of shows like Sacred Games, or Mirzapur. <ul><li>Will movies that release exclusively on the internet now require a certification from the licensing board?</li></ul>Movies that get released online don’t need to be licensed by Central Board of Film Certification. But with the I&amp;B Ministry at the helm, they may have to adhere to the rules and regulations of the board, which many fear will restrict creative expression. The way news is disseminated is also diversifying. Publications have alerts on WhatsApp and Telegram, others have personalised newsletters, and most are spread across difficult mediums — from text to video to podcasts. Individual states already have anti fake-news task forces within their ranks that have thus far proven ineffective, other than in cases on anti-government news deemed to be misleading. Given the wide array of complications in implementing blanket regulations, the task will be nearly impossible to execute. So, what remains to be seen, is what the government’s intent is behind bringing a new regulatory authority for OTT platforms and news content providers. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/google-photos-will-no-longer-offer-free-and-unlimited-photo-uploads-starting-june-next-year/articleshow/79184955.cms">Google Photos' most endearing feature is going out the window starting June next year</a> <a href="https://www.businessinsider.in/india/news/psu-bank-employees-wage-revision-finalised-after-three-years-of-waiting-only-a-1500-increase-in-salary-for-officers/articleshow/79166497.cms">PSU bank employees wage revision finalised after three years of waiting — only a ₹1,500 increase in salary for officers</a> <a href="https://www.businessinsider.in/tech/apps/news/instagram-down-users-complain-of-frozen-timelines-and-likes/articleshow/79146012.cms">Instagram down for a second consecutive day — Facebook is working on a fix but has not disclosed what's wrong</a>

Unanswered questions as regulation of OTT platforms and digital news providers moves from one government department to another

If you’ve been waiting for an <keyword id="4746266" type="UNKNOWN" weightage="20" keywordseo="Apple-Store-in-India">Apple store in India</keyword>, here’s some bad news for you. You might have to wait till 2020 for an Apple store to open in India and it’s due to space constraints. As per reports, Apple is looking for at least 10,000 square feet size location in malls, which could take time. Apple wants to open few stories in India at prime locations and replicate the model of its flagship New York City store on Fifth Avenue. "Apple wants to initially set up two stores, one in New Delhi and second one in Mumbai. They want the stores to be truly iconic right from the design to the location. However, getting desired space will take time since 10,000-15,000 square feet of prime location is not readily available," ET quoted a source as saying. ET reported the Indian Apple store will be almost double than that of its average global store size of 8,500 sq ft. Also, Apple has not received the approval from the Indian government for its retail plans in the country. It is noteworthy Apple has already started assembling operations in India for <keyword id="6354606" type="COMPANY" weightage="20" keywordseo="iPhone">iPhone</keyword> SE with partner Wistron. “Last month, a team from the Apple's retail store business visited India to meet realtors and mall managers and understand the retail market,” executives told ET. Apple is eyeing the Asian market now as it opened first Apple Store at Singapore's Orchard Road and first store also in Taiwan.

Waiting for an Apple store in India? You will have to wait for 3-4 years more. Here’s why

As I walked into the office of a highly placed bureaucrat in the <a href="http://www.businessinsider.in/searchresult.cms?query=FINANCE">Finance</a> Ministry yesterday, during one of my usual rounds to pay my obeisance to the people who make some of the most important decisions that impact the country’s economy, I was greeted back with some very good news. 
 
‘I have some very good news for you!’ he told me, even as I looked wide-eyed at him. 
 
So here’s what he told me- The Government has already floated a plan and is working round the clock to iron out the details in order to allow 49% <a href="http://www.businessinsider.in/FDIIn-Retail-May-Flourish-More-As-One-Of-The-Biggest-Fashion-Retailers-Is-Hitting-Indian-Shores/articleshow/26944233.cms">Foreign Direct Investment</a> (<keyword id="44528" type="ORGANIZATION" weightage="80" keywordseo="FDI">FDI</keyword>) in the <keyword id="6354777" type="COMPANY" weightage="80" keywordseo="Media">media</keyword> sector. So far the government allows only 26% FDI in the sector. Now to anyone working in the media industry that would be music to their ears. The media industry, though less acknowledged, has been one of the worst impacted sectors post the 2008 global economic downturn. This industry has also been largely neglected by successive governments, in terms of allowing any incentives for newer technology to take shape, a pre-requisite in this cut-throat sector. 
 
He told me, “While it is clear that this government is in favour of increasing FDI to 49% in media, what we are trying to work out is the issue of editorial say that will shape how organisations with FDI function once we open the sector.” The issue of which party (foreign or Indian) gets more say on the company’s ‘Board’ and in this case the ‘Editorial Board’ was also one of the biggest issues in the Jet-Etihad deal, the multi-million dollar deal that has been the Indian aviation sector’s largest and most complicated deal so far. 
 
Once the details are finalised, a draft proposal will be sent to the various stakeholder ministries for their inputs, before it is sent to the Cabinet for a final approval. “We are still in the process of assessing if and how we can allow editorial control to the minority foreign partner in a news organisation,” he said. Sources who are working on this policy change indicate that a formula could be worked out in which the foreign directors on board a new organisation will have veto powers for all major decisions. 
 
It is no surprise that the Government’s move to revive a long pending demand from major media companies come hot on the heels of Prime Minister <a href="http://www.businessinsider.in/searchresult.cms?query=NARENDRA+MODI">Narendra Modi’s</a> US visit. During his recent trip the PM met top media barons in New York and it is understood that concerns were raised about editorial control of foreign media houses, if they were to invest in India. “Most reputed foreign media houses looking at exploring Indian opportunities are concerned about things like image and editorial say” explained a top source in North Block that houses <keyword id="47209" type="ORGANIZATION" weightage="80" keywordseo="Finance-Ministry">Finance Ministry</keyword>. 
 
So, why is this decision by the Government so crucial for the industry? The answer is simple. The media sector is severely cash-strapped and desperately looking for people who are willing to pour in the moolah. What this will also do is allow big foreign media houses to enter the Indian space with just enough say to shape the way they want their brands to grow here. 
 
Without doubt, India has grown in prominence over the last decade, and more so now, given it is also one of the only emerging markets which is still drawing in enough foreign investments. A recent report ranked it at 55, ahead of China and the US, having collected over $ 37 billion dollars in FDI from Jan-June 2015. That goes a long way, simply because this means that increasingly more foreign companies see India a place safe enough to park in million dollar long-term investments. 
 
Image credit: Indiatimes

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Good for news indeed!

<ul><li>Paytm's stocks saw a sharp downside movement after a block deal that took place where 259,930 shares were sold.</li><li>Sources have confirmed that Chinese group Alibaba is behind the block deal.</li><li>According to sources, Alibaba seems to be making an exit from India as it had sold shares in other investments as well </li></ul> Paytm's stocks on Thursday saw a sharp downside movement after a block deal that took place where 259,930 shares were sold. The shares were sold at Rs 535.90 worth Rs 13.93 crore. Sources have confirmed that Chinese group Alibaba is behind the block deal, thereby selling about 3.1 per cent of its total equity of about 6 per cent. With this block deal, Alibaba, the sources said, seems to be making an exit from India as it had sold shares in other investments such as BigBasket and Zomato. This is expected to bring cheers among investors. With Chinese shareholding reducing their stake, it will benefit the company in their Foreign Direct Investment (FDI) aspect. Paytm shares' intraday low was Rs 528.10. In fact, immediately after the block deal it soon recovered some part of the losses. Paytm's shares had been steadily rising for the past few days after there were several good news floating about the company. Its associate <keyword id="3236791" type="General" weightage="80" keywordseo="paytm-payments-bank" source="Orion">Paytm Payments Bank</keyword> has received <keyword id="30067" type="General" weightage="80" keywordseo="rbi" source="Orion">RBI</keyword> approval to appoint <keyword id="5719896" type="General" weightage="80" keywordseo="surinder-chawla" source="Orion">Surinder Chawla</keyword> as its Managing Director and CEO. The company had posted a strong operating performance update for the October-December quarter. The Paytm Super App continued to see growing consumer engagement with the average Monthly Transacting User for the quarter that ended December 2022 at 85 million, registering a growth of 32 per cent on a yearly basis. The total merchant <keyword id="2185962" type="General" weightage="80" keywordseo="gross-merchandise-value" source="Orion">Gross Merchandise Value</keyword> processed through the platform for the quarter ended December 2022 aggregated to Rs 3.46 lakh crore (USD 42 billion), marking a year-on-year growth of 38 per cent. The number of loans grew 117 per cent yearly to 3.7 million for the month of December, and 137 per cent to 10.5 million cumulative loans for the three months ended December 2022. As a result, total disbursements for the three months ended December 2022 was Rs 9,958 crore, a growth of 357 per cent on year. Paytm believes it continues to be on track for its profitability plans, with robust revenue growth driven by its strong business model. Meanwhile, brokerage and global investment firm <keyword id="48670" type="General" weightage="80" keywordseo="morgan-stanley" source="Orion">Morgan Stanley</keyword>, in a report, pegged Paytm's shares target price to be at Rs 695 going ahead as against Rs 579 at Wednesday's close. It essentially means there is an upside potential of about 20 per cent returns on investment for investors. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/paytm-will-be-key-beneficiary-of-indias-upi-incentive-scheme-morgan-stanley/articleshow/96933995.cms">Paytm will be key beneficiary of India's UPI incentive scheme: Morgan Stanley</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/tcs-revenue-growth-to-slowdown-in-fy24-fitch-ratings/articleshow/96933754.cms">TCS revenue growth to slowdown in FY24: Fitch Ratings</a>

Alibaba exiting India? Paytm among other Alibaba-owned stocks seeing selloff

After alleged territorial incursion, China is slowly, but definitely invading the major driver of <keyword id="6356076" type="UNKNOWN" weightage="100" keywordseo="indian-economy">Indian economy</keyword>, <keyword id="46431" type="CITY" weightage="100" keywordseo="India-Inc">India Inc</keyword>. That said, this time it is good news for the country. Though China became India’s largest trading partner in 2008, it is only now that the <keyword id="6362476" type="ORGANIZATION" weightage="100" keywordseo="investments">investments</keyword> have started flowing into the country. News of plans of Chinese companies to invest $5-10 billion into the country is good news indeed, given the <keyword id="44528" type="ORGANIZATION" weightage="100" keywordseo="FDI">FDI</keyword> by Chinese companies into India during the last decade and a half was less than $ 1.5 billion. Starting this year, the spate of announcements proves that China is on an investment high. Wanda, China's largest commercial <keyword id="6354553" type="COMPANY" weightage="100" keywordseo="real-estate">real estate</keyword> developer, announced investment worth $10 billion in Haryana. <keyword id="64310" type="CITY" weightage="100" keywordseo="SAIC">SAIC</keyword> Motor, China's largest carmaker, proposed to buy GM's Gujarat facility. About 100 small and medium Chinese enterprises have promised investments worth $1 billion. The Chinese incursion has been the best news so far for the start-ups as a major part of these Chinese investments flowed in this sector last year. From Alibaba’s investment in <keyword id="6357120" type="UNKNOWN" weightage="100" keywordseo="PayTM">Paytm</keyword> and <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword> to Didi Kuaidi’s investment in <keyword id="6354720" type="PERSON" weightage="100" keywordseo="Ola">Ola</keyword>, Chinese companies are fast recognising the potential of this sector. The year kickstarted with China's online travel company Ctrip picking up a strategic stake in Makemytrip and Baidu starting discussions with internet startups. This comes after Alibaba's high profile investments in Snapdeal and Paytm last year. Another Chinese internet giant Tencent Holdings, also entered the field with investments on Bangalore-based healthcare startup <keyword id="1165142" type="UNKNOWN" weightage="100" keywordseo="Practo">Practo</keyword> last year. They are also targeting large cap stocks. State Administration of <keyword id="6368276" type="COMPANY" weightage="100" keywordseo="Foreign-exchange">Foreign Exchange</keyword> (SAFE), a fully-owned subsidiary of People's Bank of China recently invested in some of India's pedigree large cap stocks. 

	These investments point towards the country’s growing affiliation towards its neighbour. So much so that many Indian companies are eyeing Chinese investments to top their US investments. Is this a start towards a better future of the bittersweet relation these two countries share!
 

	Have a complete look at the journey here.

	 
	 
	(Image credits: indiatimes)

The Chinese invasion of India Inc

Cash and ATM management companies will soon be allowed to attract 100 per cent foreign direct investment as they are not required to comply with the Private Security Agencies (Regulation) Act (<keyword id="2544663" type="ORGANIZATION" weightage="20" keywordseo="PSARA">PSARA</keyword>), according to news agency PTI. A clarification to this effect is likely to be issued by the home ministry shortly. The clarification will be against the backdrop of the confusion among firms in cash and ATM management relating to compliance with the Act, under which they can receive <keyword id="44528" type="ORGANIZATION" weightage="20" keywordseo="FDI">FDI</keyword> only up to 49 per cent. The issue was discussed at a meeting convened by the Prime Minister's Office (PMO) last month. "In that meeting, it was decided that the home ministry would be asked to issue a clarification that these companies will not have to comply with PSARA and would be eligible to attract 100 per cent FDI," an official said. There are about a dozen cash management players in the country, including Writer Safeguard, SIS Securitas, CMS, Secure Value, Logicash, Brinks Arya, Securitrans and Scientific Security Management Services. According to experts, companies managing cash for banks have so far been caught in a policy tangle, with the home ministry insisting that 100 per cent FDI could not be allowed for them if they provide private security guards or armoured vehicles. Companies that make devices such as currency authenticators and sorting and currency counting machines will also benefit from this clarification, they added. Several players, including TVS Electronics and ITI, are in such businesses. Cash Management companies handle over Rs 40,000 crore of cash per day. The government in 2015 permitted 100 per cent FDI under the automatic route for white label ATM operations with an aim to promote financial inclusion. FDI into the country grew 22 per cent to USD 35.85 billion during April-December of 2016-17. Foreign investment is considered crucial for India, which needs around USD 1 trillion for overhauling its infrastructure such as ports, airports and highways to boost growth. A strong inflow of foreign investments also helps improve balance of payments and strengthen the rupee against other global currencies, especially the dollar.

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