General Motors, Walmart invest in the new American Dream
The Dollar Business Bureau Probably never in the political history of the United States has a President caused such ripples in the economic environment even before being sworn in. Walmart and General Motors, in tandem with the new stance adopted by US Presidency on aggressive job creation in the manufacturing sector, have both announced robust investments and job creation in the USA in 2017. GM proposed an additional $1 billion investment over and above the already announced figure of $2.6 billion in 2016. The dominant automobile player plans to create 7000 new jobs in the US over the next two to three years. This net number includes IT jobs it's going to bring back home from overseas, 450 jobs in the axle production and 1,500 jobs that ...
Walmart eyes opening food retail chains in India
The Dollar Business BureauGlobal retail giant Walmart is eyeing India’s food processing industry following the government’s decision to relax foreign investment rules. "Walmart is showing a lot of interest. Now we are hoping that they will come on their own and will add to the growth story of this country," Food Processing Secretary A K Srivastava said. Indicating the sudden impact of relaxing norms, Srivastava said a leading Brazilian poultry firm has expressed interest in collaborating with Future Group to sell products in the Indian market. "A Brazilian company claiming to be world's leading exporter in poultry sector met us on Tuesday. They want to tie up with Biyani's Future Group to use their retail outlets," he added. The government had recently allowed 100% foreign investments ...
Food processing industry to get 100% FDI through FIPB route
This will benefit farmers, give impetus to food processing industry and create vast employment opportunities, the Minister added Vanita Peter D’Souza | The Dollar Business Prior to this proposal, 100% FDI was allowed in the food processing industry through the automatic route while 49% FDI was allowed through FIPB route With a view to give an extra boost to the agrarian sector, Finance Minister Arun Jaitley relaxed the FDI regulation in the food processing industry and announced a 100% FDI through FIPB route. The Finance Minister while presenting his third Union Budget said, “Our foreign direct investment (FDI) policy has to address the requirements of farmers and food processing industry. A lot of fruits and vegetables grown by our farmers either ...
