Page 14 - Latest Updates on FDI
Govt refuses to budge on FDI compliance by e-commerce companies
According to the notification by the finance ministry, e-commerce companies have to obtain statutory auditor report by September-end for the preceding financial year
 "Govt refuses to budge on FDI compliance by e-commerce companies")
Govt tells e-commerce companies to file FDI-compliance report annually
According to government sources, this decision will help in ensuring compliance of FDI policy in the e-commerce sector
 "Govt tells e-commerce companies to file FDI-compliance report annually")
Total FDI inflow into India increased by $62 bn in 2018-19, says govt
Goyal's response came in response to a question by Congress MP Abdul Khaleque on whether the Foreign Direct Investments into India have declined in 2018-19
 "Total FDI inflow into India increased by $62 bn in 2018-19, says govt")
Govt exploring options to ease FDI norms to attract bidders for Air India
The government for long has been trying to sell debt-ridden Air India but could not attract bidders. It has now again decided to call bids for sale next month
 "Govt exploring options to ease FDI norms to attract bidders for Air India")
7-Eleven tweaks convenience store format for India roll-out next year
Experts say the emphasis on eating out at 7-Eleven in India is linked in part to curbs on foreign direct investment in multi-brand retail in the country
 "7-Eleven tweaks convenience store format for India roll-out next year")
Odisha topples Maharashtra in attracting new investments in H1 FY20
Corners 18% of virgin investments drawn by all states, compare to Maharashtra's 16%
 "Odisha topples Maharashtra in attracting new investments in H1 FY20")
100% FDI in coal mining will help India to reach 300 MT target: Deloitte
In August, the government had allowed 100 per cent foreign investment in coal mining and contract manufacturing
 "100% FDI in coal mining will help India to reach 300 MT target: Deloitte")
Set up panel to look into allegations against Flipkart: CAIT to govt
In a statement, CAIT has levelled several allegations against Flipkart which include circumventing the law, causing huge GST and Income Tax revenue loss to the governmen, bypassing the FDI policy
 "Set up panel to look into allegations against Flipkart: CAIT to govt")
Centre prioritises coking coal contracts over foreign mine purchases
Company may at best consider picking up stakes in coking coal companies instead of going for an outright purchase
Govt to set up mega parks near ports to attract FDI: Textile secretary
Addressing a conference, Textile Secretary Ravi Capoor said there has been a "very good response" from state governments on the proposed mega parks
 "Govt to set up mega parks near ports to attract FDI: Textile secretary")
Letter to BS: Govt needs to focus on increasing its revenue from GST
The government needs to focus on increasing the revenue on GST and help the retailers achieve a good margin.
 "Letter to BS: Govt needs to focus on increasing its revenue from GST")
Inter-ministerial group discusses possibility of further easing FDI norms
Under government route, foreign investor has to take prior approval of respective ministry/department
 "Inter-ministerial group discusses possibility of further easing FDI norms")
PM Modi invites global investors to benefit from India's start-up ecosystem
The Prime Minister reiterated his government's commitment to make India a $5 trillion economy by 2024
 "PM Modi invites global investors to benefit from India's start-up ecosystem")
India to invest $100 bn in refining, pipeline, gas terminals by 2024: PM
Prime Minister Narendra Modi is attending the Future Investment Initiative, dubbed 'Davos in the desert', in Saudi Arabia
 "India to invest $100 bn in refining, pipeline, gas terminals by 2024: PM")
Walmart CEO pens a letter to PM on data privacy, regulatory stability
He also appreciated the prime minister for listening to the retailer's concerns on regulatory stability and uniform implementation of regulations in the e-commerce and retail sectors
 "Walmart CEO pens a letter to PM on data privacy, regulatory stability")
Turmoil in the marketplace
FDI norms for e-commerce should be relaxed
Opening up of commercial coal mining to 100% FDI unlikely to boost sector
Allowing 100% FDI in commercial coal mining doesn't augur well for the sector at a time when global capital is fleeing coal
 "Opening up of commercial coal mining to 100% FDI unlikely to boost sector")
Trying to negotiate with CIL workers; things to normalise soon: Prahlad
Last week, the trade unions had declined to attend a meeting with Joshi to discuss their demand of withdrawing 100 per cent FDI in coal mining
Coal India workers strike against 100% FDI; production, dispatch halted
Coal India is likely to lose around 1.5 million tonne of production due to the stir
 "Coal India workers strike against 100% FDI; production, dispatch halted")
India Inc hails tax cuts, says move will boost investments, spur demand
MNCs may relocate new factories to India as tax cut to 15% for new factories
 "India Inc hails tax cuts, says move will boost investments, spur demand")
