FOREIGN DIRECT INVESTMENT
RBI mandates payment of inward remittances on same business day
The Reserve Bank of India is speeding up money transfers from abroad. Banks must now credit foreign payments to accounts on the same business day. This change aims to make remittances faster for everyone. Banks have six months to get ready. This move will help millions of people receive money quicker. India is the world's top recipient of these funds.
India doing better than Asian peers, well placed to attract more foreign investment: RBI
India's economy shows strong resilience, outperforming other Asian nations. Central bank governor Sanjay Malhotra highlighted attractive valuations and growth potential, positioning India for increased overseas investment. The nation is projected for robust GDP expansion, making it a prime investment destination. Fiscal and monetary policies will drive growth and manage price pressures.
India's attractiveness as investment destination to improve this year: RBI DG Gupta
India's investment appeal is set to rise this year. Strong economic foundations and better valuations are attracting investors. Remittance flows are also expected to remain stable despite regional crises. Foreign investors are anticipated to return, drawn by India's growth story.
Japan’s JFE Engineering to buy 25% stake in Antony Waste Handling's Andhra waste-to-energy projects
Antony Waste Handling Cell Ltd is joining forces with Japan's JFE Engineering Corporation. They will build two waste-to-energy plants in Andhra Pradesh. This marks Japan's first foreign direct investment in India's waste-to-energy sector. The projects will process municipal solid waste and generate power. Construction is expected to finish within 24 months.
Nykaa eyes Deepika Padukone's 82°E; Wipro seals $1B deal
Nykaa is in talks with Deepika Padukone’s premium skincare brand 82°E to buy a majority stake. This and more in today's ETtech Top 5.
Avendus ropes in UBS’s Gaurav Arora to lead infrastructure vertical
Avendus Capital has appointed Gaurav Arora as its new Managing Director and Head of Infrastructure. Arora previously held key roles at UBS, Deutsche Bank, and Jefferies. This strategic hire follows the departure of veteran banker Prateek Jhawar.
$15 billion investment: Google to kick off data centre project on April 28
So far, Google and its subsidiaries have data centres in 11 countries - the United States, Taiwan, Japan, Singapore, Ireland, the Netherlands, Denmark, Finland, Germany, Belgium, and Chile, spread across 29 geographic locations. The data centre cluster in Visakhapatnam is expected to be Asia's largest.
Japan to create special cell to push FDI into India
Japan's Foreign Ministry is launching a new center to help Japanese companies invest in India. This initiative aims to overcome challenges like complex regulations and tax systems. The center will also foster cooperation in AI, startups, and critical minerals. This move supports a goal of 10 trillion yen in private sector investment by 2035.
Sanjay Malhotra’s baptism by fire amid West Asia war's economic consequences
RBI's Malhotra faces a critical test as war disrupts global markets. Inflation and growth are key concerns. The Reserve Bank of India must navigate these uncertainties to manage interest rates and the rupee's value. The governor's decisions will shape the nation's economic outlook. Balancing inflation control with growth support is paramount.
MIB revamps decade-old TV ratings system, expands scope, tightens norms
India's TV audience measurement system is set for a major overhaul. New rules mandate tracking viewership across all screens, including OTT platforms. Landing page viewership will no longer count towards ratings. Panel sizes will significantly increase to ensure accuracy. These changes aim to boost competition and transparency in the advertising market.
Press Note 3 of 2020 amendment provides for beneficial ownership definition: Govt to Parliament
New rules define beneficial ownership for countries sharing land borders with India. Investors from these nations can hold up to 10% ownership via the automatic route. FDI inflows are at a record high, showing strong returns for foreign capital. Production Linked Incentive schemes have attracted significant investment and created jobs.
Centre relaxes Land Border norms for BHEL tenders
India has removed guardrails for companies from neighboring countries bidding on Bharat Heavy Electricals Limited (BHEL) projects. A five-year relaxation from prior registration requirements has been granted for 21 critical items, allowing Chinese bidders to participate. This exemption covers advanced industrial materials not readily available domestically.
Attracting FDI: The Reform Imperative
India faces an opportune moment to attract substantial Foreign Direct Investment (FDI) amidst global capital shifts. While reforms for Foreign Portfolio Investments (FPI) have progressed, a sharper focus on simplifying FDI regulations and execution pathways is crucial. Addressing legacy issues, revisiting pricing norms, and streamlining corporate restructuring can unlock significant long-term capital.
RBI takes stock, asks banks to detail West Asia exposure
The Reserve Bank of India is assessing bank exposure to West Asia. This move follows the Iran war's impact on global bonds and energy supply chains. Banks are asked for details on direct and indirect exposures. This includes companies with regional subsidiaries and retail banking through NRIs. The RBI aims to plan potential relief measures if the situation prolongs.
China to recoup 2% share in Indian FDI after Press Note 3 changes: Crisil
India's revised 'Press Note 3' rules are poised to boost Chinese FDI to pre-2020 levels, potentially reaching over 2%. This easing is expected to unlock pending proposals, accelerating technology partnerships and M&A. The move aims to strengthen domestic capabilities and reduce import reliance, with a 60-day approval window for key sectors simplifying collaborations.
FPI vs FII vs FDI: What is difference between categories of foreign investors
If you are confused by personal finance terms, jargon and calculations, here’s a series to simplify and deconstruct these for you. In the 95th part of this series, Riju Mehta explains the difference between the different investor categories.
Delhi HC quashes look-out circular against NDTV founders Prannoy, Radhika Roy
The Delhi High Court has quashed the look-out circular issued against NDTV founders Prannoy and Radhika Roy. The court's decision comes after cases were registered against them by the CBI. The couple has been asked to cooperate with the ongoing investigation. This development follows petitions filed by the Roys challenging the circulars opened against them in 2021.
FTAs to boost FDI, manufacturing in India: Audi India Brand Director
India's new trade agreements with the UK and European Union are expected to drive significant foreign investment and manufacturing growth. Balbir Singh Dhillon of Audi India believes these pacts will boost wealth creation and the stock market. This economic expansion will increase demand for luxury goods, including premium vehicles.
India eases FDI rules: PN-3 tweak allows ESOPs, trades for NRIs in China, Nepal and Hong Kong
Indian companies can now offer stock options to employees in China, Nepal, and Hong Kong. Non-resident Indians and expats in these regions can also invest directly in Indian stocks. This change follows a subtle alteration in New Delhi's foreign direct investment rules. The move aims to ease talent management and hiring.
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