Foreign Direct Investment (FDI) in India dipped by 3 per cent to $22.03 billion in 2013, according to data from the Department of Industrial Policy and Promotion (DIPP). In 2012, India attracted $22.78 billion of FDI. Services, pharmaceuticals, automobiles, construction development, telecom, computer software and hardware, chemicals and power were among the sectors that attracted FDI in 2013.
Category: Infrastructure Finance
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IDFC and Bandhan get banking licence
The Reserve Bank of India (RBI) has decided to issue permits to IDFC and Bandhan, the country's largest micro lender based in Kolkata. After the Election Commission gave its clearance to grant of new licences, RBI's committee of central board met to deliberate on the two names placed before it and decided to give its in-principle approval. IDFC and Bandhan will get a year and a half to begin operations, failing which their licences could be cancelled.
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100 AIFs to operate in India
Securities Exchange Board of India (SEBI) has allowed 100 entities to set up Alternative Investment Funds (AIFs) - newly created class of pooled-in investment vehicles for
real estate, private equity and hedge funds - in less than two years. The 100 AIFs have been registered with SEBI since July 2012. Out of this, about 11 entities got market regulator's approval to operate in the country so far this year, 67 in 2013 and the remaining 22 in 2011.
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UAE, India investment protection pact
According to the Department of Economic Development (DED), India and the UAE are working towards giving the final shape to a Bilateral Investment Promotion and Protection Agreement (BIPPA) to enhance investments between the two countries.The agreement is aimed at driving investments into India from the UAE.
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Govt to set up $1-bn fund for telecom equipment manufacturing
The National Manufacturing Competitiveness Council (NMCC) has floated a proposal to the government for setting up a $1 billion venture capital fund (Rs 6,200 crore) to encourage manufacturing of telecom equipment and devices.
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Creating financially sustainable cities in India
The HPEC Report on Indian Urban Infrastructure and Services (2011) estimates that India will need urban infrastructure investment amounting to Rs 39.2 lakh crore in 20 years between 2012 and 2031.
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Urban projects: Chequered growth
The Cabinet Committee on Investment (CCI), according to latest reports, has unlocked 144 stalled infrastructure projects worth Rs 5.27 lakh crore. But experts don't see this reviving the fortunes of the Indian economy owing to the long gestation period of these projects.
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Telecom Commission to introduce graded penalty system
The Telecom Commission will soon decide on a new graded financial penalty system for telecom operators. The penalties will range from Rs1 lakh as a warning to Rs 50 crore for a severe infraction.
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ADB loan to three projects
The Asian Development Bank (ADB) and the Government of India signed loan agreements worth about $605 million (around Rs 3,760 crore) for three separate projects to better rail services, power and roads in the country.
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bilateral investment pacts to be reviewd
The government said it was reviewing all its bilateral investment promotion and protection pacts, amid global firms raising concerns about IndiaĆĀ“s investment policies. So far India has implemented 83 bilateral investment promotion and protection agreements (BIPPAs) with various countries.