South Africa seeks foreign investments from BRICS members
The Dollar Business Bureau Pitching South Africa as an attractive investment destination, the BRICS business delegates from the country said South Africa has always regarded manufacturing as the heartbeat of its industrial policy and action plan, while serving as the gateway to Africa. “South Africa is moving towards a knowledge based economy with focus on high infrastructure and accessibility, ICT and connectivity through road, railways and airways. With emphasis on trade, South Africa is strategically located as an export platform and that the export partners have diversified over the years,” said Invest South Africa Head Yunus Hoosen, while addressing the session on ‘Investment Opportunities in South Africa’ at the BRICS Trade Fair in New Delhi. Hoosen highlighted his country’s priority sectors for foreign direct investments (FDI) included ...
New defence procurement policy to be launched soon
Source: Deepak Kumar The government on Monday announced that it will soon launch a new defence procurement policy in order to give a boost to the Prime Minister Narendra Modi-led “Make in India” initiative. “A lot has happened in the last one year. Some major decisions have been taken, especially in the defence sector. I think we will have a new defence procurement policy coming up soon,” said Amitabh Kant, Secretary of the Department of Industrial Policy & Promotion (DIPP). Speaking at the “Indo-German Business Roundtable” conference on Monday, Kant urged the German business delegation to increase investments in India and said the government was ready to relook the FDI rule and it could enhance FDI to 100% from 49% in cases of ...
FDIs worth Rs 981.15 crore cleared
Source: PIB, Government of India Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its 220th meeting held on July 3, 2015, Government has approved 07 proposals of Foreign Direct Investment amounting to Rs. 981.15 crore approximately. Details of Proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on July 3, 2015 Following 07 (seven) proposals have been approved: S.no Name of the applicant Gist of the proposal Sector Proposed FDI 1. M/s Celon Laboratories Limited, Hyderabad, Telangana Approval has been sought by M/s Celon Laboratories Limited, a Brownfield pharma company for downstream investment in another brownfield pharma company. Pharma Rs. 16 crore 2. M/s Keppel Puravankara Development Private Limited, Bangalore Approval has been sought by M/s Keppel Puravankara Development Private Limited for redemption of preference shares issued to the ...
India keen to develop sectors where China is strong: PM
The Dollar Business Bureau Many Chinese companies have the possibility of investing in India to take advantage of India’s potentials. The potential lies in Manufacturing, processing as well as in infrastructure. The above statement was made by Prime Minister, Narendra Modi while speaking at the India-China Business Forum on Saturday, said a PIB release. Stating that his government is keen to develop the above sectors where China is strong, Modi called for China’s involvement in tapping the scope and potential of the infrastructure and related developments in India. Modi went on to add that his government’s initial measures have helped in building up an enhanced investor confidence. The sentiments for private investment and inflow of foreign investment are positive. FDI ...
Australia willing to support India with Coal supplies
The Dollar Business Bureau India and Australia discussed various issues related to the strengthening of the bilateral ties which include the ways for setting up of Bilateral Investment and Trade (BIT) Agreement and Foreign Trade Agreement (FTA) among others. As a part of her four-day visit to India, Julie Bishop, Australian Foreign Minister, on Monday, met the Indian Finance Minister, Arun Jaitley. In the meeting, both the sides discussed issues regarding BIT, India’s measures to attract foreign direct investments (FDI) in the recent months, issues on various reforms like opening up of insurance sector, among others. The Union Finance Minister briefed the Australian Minister with the steps being taken by the Government of India towards providing an ‘ease of ...
