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PMO all too powerful, ministers powerless? Rajan fires fresh salvo

The starting point to address this slowdown will be for the Modi govt to acknowledge the problem, he said.

FDI in India

Dec 08, 2019, 04.43 PM IST

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FDI IN INDIA

Modi government taking several steps to incentivise renewable energy sector: R. K. Singh

The government is facilitating developers by allowing Foreign Direct Investment (FDI) of up to 100% through the automatic route. Moreover, Inter State Transmission System (ISTS) charges and losses for inter-state sale of solar and wind power shall also be waived for renewable projects commissioned by December 2022.

From a 10-year view, Indian stocks better than US ones: Chris Wood

Wood said the government has the political will to do PSU divestments

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  • While the idea is to look at all overseas players, the focus is on firms from countries such as China, which are seen to be sensitive. The talks for a set of possible restrictions come at a time when the Centre is weighing the option of allowing Chinese telecom major Huawei to participate in 5G trials.

    The economic unit of RSS said the move to divest companies such as Air India, BSNL and BPCL was “opposed to national interest and prone to being misused by corrupt officials to benefit special business houses”.

    Sept 30 every year is the deadline for ecomm firms to ready their annual compliance reports as per FDI norms.

    "Against Sl. No. 15.2.3, for entry (p), the following entry shall be substituted, namely-(p) e-commerce marketplace entity with FDI shall have to obtain and maintain a report of statutory auditor by 30th of September every year for the preceding financial year confirming compliance of the e-commerce guidelines," the gazatte notification said

    "On the economic front in particular, the prime minister has set a goal of becoming a five trillion dollar economy by 2024. While this is an ambitious aspiration, we are on track and fully committed to the same," said Principal Secretary to the Prime Minister Pramod Kumar Misra.

    Indian Ambasador to USA Harsh Vardhan Shringla also suggested that bilateral relationship between India and the United States is evolving fast both in the strategic and economic domains and this is key to India’s growth story. His comments are significant ahead of the 2+2 ministerial level dialogue on December 18.

    The government had last month asked top two e-commerce firms Flipkart and Amazon to share details of their top five sellers and total business quantum for each seller, variations of commission agreements they have with various sellers, and how investments from their parents are disbursed.

    The Confederation of All India Traders (CAIT) claimed that small retailers have suffered at the hands of Amazon, Flipkart and other e-commerce portals for the last one year, leading to decline in their business. "These companies can easily be termed as economic terrorists and a major roadblock in making India a USD 5 trillion economy vision of PM Modi," the CAIT said.

    To increase the flow of foreign funds, govt may ease restrictions on FDI by JVs or WOS of an Indian company.

    Jeff Bezos, the Amazon chief is said to be worried about the changing eCommerce rules in India.

    Under the Draft Defence Production Policy 2018, the Indian government eyes $5 billion defence exports by 2025. "On the one hand this target is ambitious, but at the same time it's encouraging that India's defence exports have grown almost six-fold in the last two years," Defence Minister Rajnath Singh said.

    The Swedish manufacturer is in the running to supply 114 Gripen fighters in a deal valued at more than $15 billion as PM Modi seeks to modernize armed forces reliant on mostly Soviet-era equipment in the face of threats from Pak and China. Saab faces a requirement that at least 85% of the planes be built locally in partnership with Indian firms.

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