Published: Sat, January 13, 2018
Money | By Armando Alvarado

India woos foreign cos with new norms

India woos foreign cos with new norms

While there have been efforts by previous governments to divest part of all of the state's stake in Air India, none has shown as much commitment and intensity as the current National Democratic Alliance. These are meant to liberalise and simplify the FDI policy so as to provide ease of doing business in the country.

"Allowing 100 per cent FDI in single-brand retail trade will further increase the hardship of traditional retail trade sector which is the second biggest livelihood giver after agriculture and expedite the ruin of the traditional retail trade sector", Sen said. As a major move that will ease foreign investments, the government has approved 100 percent FDI through automatic routing, which will be heavily useful. The Cabinet has allowed 100% FDI via automatic route in single brand retail trading and construction, while it has raised the existing limit in power exchanges and aviation sectors. It will lead to larger FDI inflows contributing to growth of investment, income and employment.

However, the Government has clarified that "FDI in Air India including that of foreign Airlines should not exceed 49% either directly or indirectly and substantial ownership and effective control of the national carrier will continue to remain in Indian national".

Lauding the government's move to liberalize the Foreign Direct Investment (FDI) norms for single brand retail and Construction development, Anil Khaitan, President, PHD Chamber of Commerce and Industry on Wednesday hoped that the decision will create job the opportunities in the country.

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The study found 553,742 persons experienced homelessness on a single night in 2017, an increase of.7 percent since previous year . Housing Secretary Ben Carson said the grants "support our broader goal of ending or preventing homelessness as we know it".

While India has seen its economy slowing recently, it has managed to secure a lot of foreign capital even without the new opportunities in place for entrepreneurs from overseas. However, foreign investors' purchases were restricted to the secondary market only.

The SBRT entity will be required to meet the 30 per cent sourcing norms directly towards its India operation, on an annual basis, after the five-year period, a government release said. "This should also generate employment and give the Indian consumers access to several worldwide brands", said Pinakiranjan Mishra, partner and national leader, consumer products and retail, EY.

Opening up of FDI for real estate brokers will surely help the sector in India.

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