GOVT TO EASE FDI RULES
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Govt mulls curbs on foreign firms in ‘strategic areas’
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.
Under partial credit guarantee scheme: Govt aims at approving proposals worth Rs 20,000 crore over next two weeks
Govt aims to propel retail which will help pick the economy up from a six-year low growth rate.
Govt asks e-commerce firms to file FDI compliance report annually
"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
Govt on track to make India $5 trillion economy by '24: Misra
"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.
Govt asks Snapdeal, Paytm Mall to give business details
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.
New norms to ease restrictions on FDI by joint ventures of Indian companies
To increase the flow of foreign funds, govt may ease restrictions on FDI by JVs or WOS of an Indian company.
Govt working on suggestions to create Rs 5k cr stressed asset fund: Secretary MSME Arun Kumar Panda
Issues around access to finance, lack of cutting edge technology and asymmetry of information are some of the primary issues Indian MSMEs today face.
Government looks to ease more FDI rules to attract investments
The department for promotion of industry and internal trade (DPIIT) has initiated an in-house exercise to identify additional sectors for easier FDI rules before it takes them up with the ministries concerned, sources said.
Annual deadline for ecommerce's FDI compliance check: September 30
Sept 30 every year is the deadline for ecomm firms to ready their annual compliance reports as per FDI norms.
Retailers' body is "cautiously optimistic" on implementation of FDI rules for e-commerce
Department of Industrial Policy and Promotion under Ministry of Commerce and Industry had issued clarifications in December last year pertaining to FDI rules in the e-commerce sector. Now that the govt is tightening the rules for foreign direct investment in e-commerce sector, Retailers Association of India is "cautiously optimistic" on its effective implementation.
Govt eases rule for change of address in KYC dealings
The changes were made by amending the Prevention of Money Laundering Rules, as per a gazette notification.
Reform push to labour laws, green nod will spur investment: Piyush Goyal
The government has made upfront released Rs 70,000 crore to state-run banks and made additional provision for lending and liquidity of Rs 5 lakh crore to increase credit flow to industries, said Goyal. He said while global growth is forecast at 3% for 2019, India continues to grow faster than the rest of the world.
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