The government raised about Rs 23,830 crore offloading stake in 7 state-run firms during 2012-13. 39 percent of this amount came from FIIs, union government said in a press release. Only about 25 percent came from Insurance Companies including LIC and less than 10 percent from banks including Public Sect
Tag: foreign institutional investment
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FIIs show interest in deploying capital
Foreign investors are showing strong interest in deploying capital on the Indian debt instruments as is evident from the recent auction of quotas to them. Foreign investors bid for quotas to invest in Rs 259.05 billion ($4.34 billion) worth of debt, while
only Rs 236.61 billion worth of debt was on offer, media repo
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Press notes on FDI notified by RBI
Press notes 2 and 3 of the Department of Industrial Policy and Promotion (DIPP) have been notified by the Reserve Bank of India (RBI) recently. The notes, which have been pending for the last four years, relate to guidelines for foreign direct investment (FDI), defining control over the company and transfer of ownership. The press notes provide definition of 'owned or controlled', a term which is essential to determine whet
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DIPP to consult ministries on FDI hike proposal
Department of Industrial Policy and Promotion (DIPP) will consult with different central government ministries separately on the proposal to raise the foreign direct investment limit in different sectors. It may be recalled that the Mayaram Committee recommended raising FDI limit in almost all sectors to 49 per cent through the automatic
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Govt to announce more economic reforms to revive growth
Union Finance Minister informed that the government would unleash more economic reforms in the coming days and weeks in order to rev up the investor sentiment and spur growth momentum. The government is expected to expedite implementation of around 40 projects out of the 250 private sector projects that can quickly take off the ground and, thereby, boost economic growth, reports indicate
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Govt to take steps to support foreign investment
Raghuram G Rajan, Chief Economic Adviser, Ministry of Finance assured that the government will continue to implement measures to ease foreign investor portfolio inflows and some will be done very shortly. He also said that the government continues to undertake measures to ensure the current account deficit (CAD) is safely financed. In the coming weeks, the government will be recommending the policies to enha
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Govt to remove ambiguity on FDI policy
Government is reportedly working on removing ambiguities in the definition of foreign direct investment (FDI) and foreign institutional investment (FII) and it is expected to issue clarification on the same. Recently, Commerce and Industry Minister Anand Sharma has reportedly discussed the issue with Finance Minister P Chidambaram. After the meeting, Sharma said the g
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Govt may implement change in FDI control definition prospectively
In an interview to a leading newspaper, Union Commerce Minister Anand Sharma that the proposed changes in the definition of foreign ‘control and ownership’ would be applicable prospectively. Applying the proposed change in definition is necessary to protect the interest of foreign companies that entered into joint-ventures, partnerships or inves
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FM hopes Indian economy would get back to 8% growth
Finance Minister P Chidambaram remarked that the Indian economy is poised for a potential growth rate of 8 per cent and the country has not fixed the limit to foreign investments. While attracting investors from Canada and the USA, he said the Indian economic downturn is a temporary phenomenon. Between 2004 and 2012, India had a growth rate of 8 per cent for six years and four
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RBI to circulate paper on FDI, FII classification
The Reserve Bank of India (RBI) would circulate a discussion paper within the next 15-20 days on the classification of foreign direct investment (FDI) and foreign institutional investment (FII) into the country. In his Budget speech, Union Finance Minister P Chidambaram had proposed to follow the international practice with regard to defining FDI and FII
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