Search Result for : Fipb

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 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% ...

Aamir H Kaki Finance Minister Arun Jaitley said on Friday that the government is now in the final stages of fixing tariffs for different items and that the rules and regulations governing GST have been approved.  “We are now in the final stages of fixing tariffs for different commodities. The formula under which it is being done has also been explained and therefore nobody is going to be taken by surprise. It's not going to be very significantly different and rules and regulations governing GST have been framed,” Jaitley said while inaugurating the Annual Session, 2017 of the Confederation of Indian Industry (CII) on the theme ‘Future of Globalisation: Can India Lead’.  The finance minister released the CII Reports on Transparency in Real ...

The Dollar Business Bureau  Budget 2017-18 has given much to be happy about, in terms of striking a balance between fiscal consolidation and public spending. Amidst shrinking private investment, short-term negative effects of demonetisation, and dim global trade scenario, the Budget was a presentation of hope.  While SMEs have much to celebrate after Jaitley announced 25% tax for companies having a turnover of less than 50 crore, start-ups got their tax holiday extended from 3 out of 5 years (in 2016-17) to 3 out of 7 years (in 2017-18). In the government’s bid to digitalize the economy, it has also caped cash transactions at Rs. 3,00,000.  Overall, the budget refocused the government’s prime policy areas of fiscal consolidation, tax compliance, digitalization, rural upliftment, ...

The Dollar Business Bureau  Inter-ministerial body Foreign Investment Promotion Board (FIPB) will consider 17 proposals of foreign investment on December 28 that includes proposals of Sanofi Synthelabo India Pvt Ltd, Gland Pharma Ltd and Star Den Media Services.  Headed by the Economic Affairs Secretary Shaktikanta Das, FIPB is scheduled to have a meeting on December 28. There are around 17 proposals on the agenda, the Finance Ministry said in its notice. The other proposals of foreign investment on the agenda are Flag Telecom Singapore Pte Ltd, You Broadband India, Idea Cellular Infrastructure Services and AMP Solar India Pvt Ltd.  India permits Foreign Direct Investment (FDI) in most of the sectors via the automatic route. However, in some specific segments, which are considered sensitive for the country and security, the investment proposals have to be first approved by FIPB.  In ...

The Dollar Business Bureau The government has approved four Foreign Direct Investment (FDI) proposals, based on the recommendations of Foreign Investment Promotion Board (FIPB). Apart from this, the Board has deferred eight proposals and rejected four. “Based on the recommendations of FIPB in its 241st meeting held on October 27, 2016, the Central Government has approved four FDI proposals, said an official statement on Thursday. The proposal of BMJ Group India Pvt Ltd, for carrying on the business of printing, publishing and circulating or otherwise dealing in scientific and technical magazines/ specialty journals/periodicals and other publications, but not in any manner dealing with news and current affairs, has been approved. The Board has also cleared the Rs.44.41 crore worth FDI proposal of Oxford University Press for setting ...

The Dollar Business Bureau The Government on Friday approved four proposals of foreign direct investments (FDI), deferring three and rejecting four, while it said that four FDI proposals did not lie before the Foreign Investment Promotion Board (FIPB).  On September 2016, the government held its 240th meetings to consider the FIPB's recommendations on various foreign investment proposals.  Among the four approved proposals was a Rs.2060 crore “acquisition of up to 100% of the share capital of M/s Sharekhan Limited (‘SKL/Sharekhan’) other than the shares held in Sharekhan by M/s Human Value Developers Private Limited (‘HVD’) by M/s BNP Paribas SA France (‘BNPP’) and/or one or more of BNPs French subsidiaries” as divulged by the Ministry of Finance.  The government also gave approval to IBM's proposal ...

The Dollar Business Bureau  In order to attract more foreign investment, the government is planning a proposal to ease FDI (foreign direct investment) in existing pharmaceutical firms. According to a Finance Ministry’s proposal, FDI up to 49 percent should be permitted via the automatic route, through approval of the Foreign Investment Promotion Board (FIPB). The proposal is in the discussion stage with the Finance Ministry and Department of Industrial Policy and Promotion (DIPP). At present, FDI up to 100 percent is allowed in the pharmaceutical sector in new projects. However, in brownfield projects, the foreign investment is permitted through FIPB approval. DIPP has already ordered a study to analyse the impact of FDI in existing pharmaceutical firms, amidst apprehensions over mergers and acquisitions of ...