Search Result for : Department Of Industrial Policy Promotion Dipp

The Dollar Business Bureau India’s foreign direct investment (FDI) in the food processing sector was $6.49 billion during the period 2010-11 to 2016-17.  “According to Department of Industrial Policy & Promotion (DIPP), Ministry of Commerce & Industry, there has been FDI equity inflow of $6.49 million in the food processing sector during 2010-11 to 2016-17,” Minister of State for Food Processing Sadhvi Niranjan Jyoti informed the Parliament on Tuesday.  In food processing industries, 100% FDI was allowed via automatic route subject to applicable regulations, laws, sectoral rules and security conditions.  According to the recent Annual Survey of Industries (ASI) conducted by the Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation in 2014-15, the overall capital invested by registered food processing entities was at ...

The Dollar Business Bureau Keeping with its aim to promote ease of doing business, the Government has simplified the process for processing proposals of foreign direct investment (FDI) by doing away with the need to send the applications to the Revenue Department. By doing amendments in the provision of standard operating mechanism for processing of foreign investment proposals, the Department of Industrial Policy and Promotion (DIPP) said on Tuesday that “marking of proposals to the revenue department for their comments has been discontinued with immediate effect.” The step taken by the Department is aimed to further promote ease of doing business in India in order to attract more overseas investments. Previously all the proposals of FDI were sent ...

The Dollar Business Bureau The next edition of consolidated FDI policy details were released by the Ministry of Commerce  on Aug 28, incorporating the changes made last year. The Department of Industrial Policy and Promotion (DIPP) in its press release said that the ‘new circular will take effect’ from today ie, Aug 28, 2017. The consolidated FDI policy is a compilation of the various decisions taken by the government in the past year and the DIPP which deals with FDI related matters, compiles all policies related to foreign investment regime into a single document to make it simple and easy for investors to understand. This enables an investor friendly climate for foreign investors who would otherwise have to go through various press notes and ...

The Dollar Business Bureau  Foreign direct investment (FDI) into India surged by 37% to $10.4 billion during the April-June quarter of current financial year, Department of Industrial Policy and Promotion (DIPP) said on Monday.  According to the DIPP data, India had received FDI amounting to $7.59 billion during the first quarter of 2016-17.  The key sectors which attracted the maximum inflow of foreign investments include services, trading, telecom, automobile and computer software and hardware.  The countries from where the bulk of FDI came into India are Japan, Mauritius, the Netherlands and Singapore.  The Government has announced various measures for attracting foreign inflows that include improvement in business climate and liberalisation of FDI policy.  FDI is considered vital for India as it needs about $1 trillion to ...

The Dollar Business Bureau A US-based technology group Information Technology Industry Council (ITI) has prodded the Trump government to take steps in overcoming barriers in digital trade and alleged that various countries including China and India are biased in their policies which unfairly disadvantage US companies.  In addition, the technology group named countries like Canada, Indonesia, Russia, South Korea, Mexico and Vietnam, which have followed discriminatory policies against American companies.  “Multiple foreign governments have turned to discriminatory or otherwise harmful policies that unfairly disadvantage American companies and impede the ability of technology products and services to drive growth,” ITI said in a report to the President.  The countries in which rules that treat foreign and domestic companies differently are Colombia, China, India, Indonesia, Russia, South Korea and ...

The Dollar Business Bureau (sourced from PIB) European Union (EU) and India on Friday announced the establishment of an Investment Facilitation Mechanism (IFM) for EU Investments in India. The mechanism will allow for a close coordination between the EU and the Government of India with an aim to promote and facilitate investments from the EU in India. This agreement builds on the Joint Statement of the 13th EU-India Summit held in Brussels in March 2016, where the EU had welcomed India's readiness to establish such a mechanism and leaders from both sides had reaffirmed their shared commitment to oppose protectionism and to work in favour of a fair, transparent and rule-based trade and investment environment. As part of the IFM, the EU Delegation to ...

The Dollar Business Bureau In a move to attract major foreign investment, the Government on Monday approved an investment of around $500 million proposed by e-commerce giant Amazon for opening retail food stores in India. This is the first proposal for foreign direct investment (FDI) in food retail that got the government’s approval. This is also the first FDI case that gets an in-principle approval after the recent shut down of the Foreign Investment Promotion Board (FIPB). This proposal was pending with the FIPB. Therefore, the Department of Industrial Policy and Promotion (DIPP) has given its nod to the proposal. According to the proposal, the American ecommerce major will open a fully-owned arm in India for carrying out the business of storing food products and sell them online. Presently, the Government allows 100% ...

The Dollar Business Bureau  American tech giant Apple Inc has sought changes in the phased manufacturing programme (PMP) of the government as the iPhone maker plans to establish a manufacturing unit in India. The Ministry of Electronics and IT came out with the PMP with the objective to boost indigenous manufacturing of mobile phones by offering tax sops and other incentives on accessories and components used in the devices. This programme will be implemented over a period of time. “The department of electronics and information technology (DeitY) is looking at this. They want alignment of duty structures on the mobile components which it proposes to make here. In the current PMP, Apple's plan is not fitting,” an official told to PTI. DeitY is having ...