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Sunday, May 19th 07:10 AM IST
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Foreign Direct Investment In India GALLERY.
Activists and supporters of India's Bharat Swabhiman Trust shout slogans as they stand in front of a burning effigy representing foreign direct investment (FDI) during a protest in New Delhi on October 2,2012. The protest was organised to protest against foreign direct investment (FDI) in multi-brand retail, a recent decision of the Indian government which has thrown open the retail and aviation sectors. Activists and supporters of India's
Activists and supporters of India's Bharat Swabhiman Trust shout slogans against foreign direct investment (FDI) and 'black money' during a protest in New Delhi on October 2,2012. The protest was organised to protest against foreign direct investment (FDI) in multi-brand retail, a recent decision of the Indian government which has thrown open the retail and aviation sectors. Activists and supporters of India's
The Indian joint venture of Wal-Mart Stores has suspended its chief financial officer and other employees as it investigates alleged violations of US anti-bribery laws, a development that could hamper India's efforts to open its domestic supermarket sector to foreign investment. The development comes at a time when Parliament is hotly debating the decisions taken by the government to allow foreign direct investment ( FDI) in multi-brand retail. a href=http://in.reuters.com/article/2012/11/23/walmart-india-probe-idINDEE8AM01Z20121123An emEconomic Times/em repor/at says now Bharti Walmart will go slow on planned rollouts of its cash-and-carry stores until this investigation reaches a conclusion. Investigators from KPMG and GreenbergTraurig are probing cases from 2009 onwards, the year the company opened its first wholesale store in Amritsar. [caption id=attachment_532799 align=alignleft width=380 The Indian joint venture of Wal-Mar
Indian traders shout slogans in front of an effigy representing a Foreign Direct Investment (FDI) Ravana in New Delhi on October 23, 2012. The rally was organised to protest against the foreign direct investment (FDI) in multi-brand retail, a recent decision of the government which has thrown open the retail and aviation sectors, a day ahead of the Hindu festival of Dussehra during which a giant effigy of Ravana is burnt and which celebrates the victory of good over evil. Indian traders shout slogans in fro
Indian police prevent Left parties activists from entering Bharathi Wallmart during a protest against Foreign Direct Investment (FDI) in Hyderabad on November 19, 2012. The rally was organised to protest against Foreign Direct Investment (FDI) in multi-brand retail, a recent decision of the government which has thrown open the retail and aviation sectors. Indian police prevent Left parties
Indian Left parties activists shout slogans outside Bharathi Wallmart during a protest against Foreign Direct Investment (FDI) in Hyderabad on November 19, 2012. The rally was organised to protest against Foreign Direct Investment (FDI) in multi-brand retail, a recent decision of the government which has thrown open the retail and aviation sectors. Indian Left parties activists shout
Members of the opposition Bharatiya Janata Party(BJP) shout slogans at a bike rally during a protest against Foreign Direct Investment (FDI) in Hyderabad on November 21, 2012. The rally was organised to protest against Foreign Direct Investment (FDI) in multi-brand retail, a recent decision of the government which has thrown open the retail and aviation sectors. Members of the opposition Bharatiya
Members of the opposition Bharatiya Janata Party(BJP) take out a bike rally during a protest against Foreign Direct Investment (FDI) in Hyderabad on November 21, 2012. The rally was organised to protest against Foreign Direct Investment (FDI) in multi-brand retail, a recent decision of the government which has thrown open the retail and aviation sectors. Members of the opposition Bharatiya
Major global companies consider India their third most favoured destination after China and the United States, a UN report said on Thursday, and investment inflows could increase by more than 20 percent both this year and next. Foreign direct investment (FDI) flows into India leapt 30 percent to nearly $32 billion in 2011, though held back by slow pace of reforms, it still remains a long way down the league table of FDI recipients. China drew $124 billion last year, while Brazil attracted nearly $67 billion and Russia $53 billion. [caption id=attachment_368829 align=alignleft width=380 Major global companies consider Ind
Opposition Bharatiya Janata Party (BJP) supporters and traders participate in a protest rally against foreign direct investment (FDI) in multi-brand retail and the UPA government's coal scam in New Delhi on August 23, 2012. The BJP held the protest against the FDI in retail demanding that the government review a deal struck with the EU, India's biggest trading partner, since June 2007 to liberalise trade in goods, services and investment through a free trade agreement. Opposition Bharatiya Janata Party (
An activist from the Socialist Unity Centre of India (SUCI) burns a portrait of India's Prime Minister Manmohan Singh during a protest against rise in fuel prices and Foreign Direct Investment (FDI) in Kolkata September 15, 2012. India opened its retail sector to foreign supermarkets on Friday, a major economic reform that has been stalled for months by political gridlock and came as part of a package of measures aimed at reviving growth. An activist from the Socialist Unit
Members of Parliament (MP) from The Trinamool Congress Party (TMC) stage a protest against the Congress-led United Progressive Alliance (UPA) government and Foreign Direct Investment (FDI) at the Winter Session of Parliament in New Delhi on November 23, 2012. The WInter Session of India's Parliament suffered more disruption for a second day as protests by opposition parliamentarians once more led the Speaker to adjourn proceedings. The decision to allow foreign supermarkets into the retail sector did not require a vote and has become law, but proposals to open up the gigantic insurance and pensions markets will need parliamentary approval. Members of Parliament (MP) from The
strongDavos:/strong US-based global retail giant Walmart today said it is studying the conditions related to India's allowing foreign direct investment in multi-brand retail before making the final announcement on its entry plans. Doug McMillon, CEO Walmart International met Commerce and Industry Anand Sharma on the sidelines of the annual World Economic Forum meeting being held here. McMillon conveyed that Walmart is excited about India and they are studying the conditions before making the final announcement, said a statement issued by the Commerce and Industry Ministry. It said that Sharma has asked them to send request for clarification, if any, in the written form to the ministry. [caption id=attachment_601336 align=alignleft width=380 strongDavos:/strong US-based global
Leaders appeal to traders to protest against foreign direct investment or FDI in the retail sector, as a girl dressed as Mother India stands in front, in New Delhi, India , Thursday, March 7, 2013. The traders were against opening doors to foreign retailers claiming that big retail chains like Wal-Mart will gradually replace the small time traders. Leaders appeal to traders to protes
India's Finance Minister Palaniappan Chidambaram (L) meets with Japan's Prime Minister Shinzo Abe at Abe's official residence in Tokyo April 1, 2013. India's economy is capable of absorbing $50 billion in foreign direct investment per year, Chidambaram said on Monday, adding that the government is committed to reforms to tackle a large current account deficit. India's Finance Minister Palaniappa
Chief Executive Officer (CEO) of British supermarket giant Tesco, Philip Clarke (R) shakes hands with Indian Minister for Commerce and Industry, Anand Sharma during a meeting at Ministry of Commerce in New Delhi on May 10, 2013. British supermarket giant Tesco's chief executive officer Philip Clarke said that a meeting with India's trade minister to clarify the multi-brand retail policy was reassuring. Clarke who was in New Delhi to seek clarifications from the government over the Foreign Direct Investment (FDI) policy in retail sector said he met the trade minister Anand Sharma to discuss 'some of the small concerns.' Chief Executive Officer (CEO) of Br
strongBy Shanmuganathan Nagasundaram/strong In what was probably his most significant day as a Prime Minster of India in his second term, Manmohan Singh initiated a slew of reforms that included increasing diesel prices, allowing foreign direct investment (FDI) in multi-brand retail and aviation and raising resources through divestments in public sector units (PSUs). The markets responded positively with the currency also showing significant appreciation as a reaction to these bold initiatives (though the other significant contributor to these moves would have to be the QE (quantitative easing) to infinity' plans announcement of Ben Bernanke). Manmohan certainly needs to be appreciated for these initiatives. In what's been a frustrating wait, all that Manmohan found time for was to indulge in all kinds of populist and non-market interventions and very few real reforms have happened in the last eight years. And even these initiatives, bold as they sound, are so only in the context of Manmohan Singh's past under-achievements. In absolute terms, we are still barely scratching the surface in terms of meaningful reforms that are required to meet the aspirations of the growing middle-class - or for that matter, even to prevent a sovereign downgrade, for whatever the rating is worth. (I think all paper currencies should be rated Junk anyway). [caption id=attachment_457934 align=alignleft width=380 strongBy Shanmuganathan Nagasundara
People shop for clothes at a roadside store at a market in Mumbai September 14, 2012. India opened its supermarkets to foreign direct investment and allowed foreign airlines to invest in local carriers in a spate of reform initiatives on Friday, a day after New Delhi raised the price of heavily subsidised diesel. People shop for clothes at a roadsi
Bharat Solanki (L), a mom and pop grocery store owner, speaks with his employee inside his shop at a residential locality in Mumbai September 14, 2012. India opened its supermarkets to foreign direct investment and allowed foreign airlines to invest in local carriers in a spate of reform initiatives on Friday, a day after New Delhi raised the price of heavily subsidised diesel. Bharat Solanki (L), a mom and pop g
Cautioning against over- dependence on FIIs, which brings in hot money, Chief Economic Adviser Raghuram Rajan today said the government should focus on Foreign Direct Investment (FDI) and open more sectors to such inflows. We have to be careful that we are not overtly dependent on external investors that this is an environment when the external investor is quite fickle..., Rajan said in his first media interaction. Betting high on India's reform initiatives, foreign investors have pumped in more than Rs 9,000 crore (about $1.67 billion) in the country's equity market this month. [caption id=attachment_468243 align=alignleft width=380 Cautioning against over- dependence
Shares in Indian retailers fell on media reports that government coalition members Samajwadi Party and leftist parties have opposed allowing foreign direct investment into multi-brand retail outlets. Leaders from these parties have written to Prime Minister Manmohan Singh expressing their opposition, newspapers including the Times of India report on Monday. Shares in Pantaloon Retail fell 5.2 percent. India's top retailer had surged 26.4 percent since the end of May to Friday's close, far outperforming Nifty's 6.5 percent gain, on hopes the government would open up the retail sector. [caption id=attachment_387177 align=alignleft width=380 Shares in Indian retailers fell on
Local trade union members display rotis, or Indian bread, during a protest against Foreign Direct Investment (FDI) in Allahabad, India, Wednesday, Sept. 19, 2012. A key ally of India's ruling coalition withdrew its support from the government Tuesday to protest recent economic reforms, including a move to open the country's huge retail sector. Local trade union members display r
Local trade union members display rotis, or Indian bread, during a protest against Foreign Direct Investment (FDI) in Allahabad, India, Wednesday, Sept. 19, 2012. A key ally of India's ruling coalition withdrew its support from the government Tuesday to protest recent economic reforms, including a move to open the country's huge retail sector. Local trade union members display r
Foreign Direct Investment (FDI) in the country declined by over 65 percent to $4.64 billion during April-June 2012-13 year-on-year amid global economic slowdown. The FDI inflows were $13.4 billion in April-June 2011-12 period. According to latest data of the Reserve Bank of India (RBI), the FDI inflow in the country was $1.32 billion in June as against $5.73 billion in the same month last year. The data revealed that the net FDI-difference between FDI inflow and outflow-plunged 58 percent to $3.83 billion in the first three months of the fiscal. The net FDI inflow was $9.04 billion in the same period of 2011-12. [caption id=attachment_414567 align=alignleft width=380 Foreign Direct Investment (FDI) in
strongNew Delhi:/strong Only four states and UTs have so far indicated their support for allowing FDI in multi-brand retail, a development which will further delay entry of global chains like Walmart and Carrefour in India. Till date, written communications, indicating support for foreign direct investment (FDI) in multi-brand retail trade, have been received from the governments of Delhi, Manipur and from Daman & Diu and Dadra Nagar Haveli, Minister of State for Commerce and Industry Jyotiraditya Scindia informed the Rajya Sabha today in a written reply. [caption id=attachment_410969 align=alignleft width=380 strongNew Delhi:/strong Only four s
strongNew Delhi:/strongstrong India has attracted foreign direct investment (FDI) of $22.78 billion in 2012, a decline of 34 percent over the previous year due to global economic uncertainties. The country had attracted FDI of $34.62 billion in 2011, according to the Department of Industrial Policy and Promotion data.[caption id=attachment_654459 align=alignleft width=380 strongNew Delhi:/strongstrong India
strongNew Delhi:/strong India's Foreign Direct Investment (FDI) inflows declined to a nearly two-year low of $1.05 billion in November 2012, mainly due to global economic uncertainties. In November 2011, the country had attracted FDI worth $2.53 billion. [caption id=attachment_599867 align=alignleft width=380 strongNew Delhi:/strong India's For
A broker looks at a computer screen as he talks on a phone at a stock brokerage firm in Mumbai December 3, 2012. India shares fell on Monday, retreating from a 19-month high, as recent outperformers such as HDFC Bank were hit by profit-taking on worries over the parliament's impending vote on foreign direct investment in multi-brand retail. A broker looks at a computer screen
From all accounts, today is going to be the UPA's Big Bang Day. Unfazed by the frontal offensive launched by the opposition and allies like Trinamool Congress and DMK, Prime Minister Manmohan Singh is chairing three back-to-back cabinet and cabinet committee meetings to clear some of the big economic reform packages, including politically-sensitive foreign direct investment (FDI) in retail and aviation. A senior government official summarised the reason for this sudden activism as emkaro ya maro/em (Do, or die), a phrase borrowed from Mahatma Gandhi's Quit India movement. The Prime Minister will first hold a full cabinet meeting in the afternoon, followed by a session of the Cabinet Committee on Economic Affairs, and then a Cabinet Committee on Infrastructure. Senior officials in the government are promising some big announcements. If this is not going to be enough, the Planning Commission, chaired by the Prime Minister, will meet tomorrow to formulate policies on issues relating to health and education, with emphasis on skill development, for giving a boost to the manufacturing sector. For now, the government is also ruling out a rollback in diesel prices or removing the cap on subsidised LPG despite protests by allies and the Opposition. Where is the government going to get money for its key social sector programmes if it continues to cross-subsidise petro-prices for all time? asked the official. The Food Security Bill, considered to be a pet project of UPA chairperson Sonia Gandhi, is still pending even as Congress strategists believe this will be a game-changer like NREGA in 2009. [caption id=attachment_455555 align=alignleft width=380 From all accounts, today is going t
Indian daily wages laborers rest in front of closed shops during a daylong strike at a wholesale market in New Delhi, India, Thursday, March 7, 2013. Traders have called the strike to protest against foreign direct investment fearing big retail chains like the Walmart will gradually replace small time traders. Indian daily wages laborers rest in