FDI Current Affairs

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FDI inflow increases by 18% to $46 billion in 2016: DIPP

According to data released by the Department of Industrial Policy and Promotion (DIPP), India attracted $46 billion foreign direct investment (FDI) in 2016.

It shows that, India’s FDI grew by 18% in 2016 as compared to $39.32 billion FDI inflows in 2015.

Key Facts
  • The main sectors which attracted the highest FDI inflows included services, telecom, trading, computer hardware and software and automobile.
  • Bulk of the FDI came in from Singapore followed by Mauritius, Netherlands and Japan.
Background
  • Foreign investments are considered crucial for India as it needs around 1 trillion dollars for overhauling its infrastructure sector such as ports, airports and highways to boost growth.
  • Strong inflow of foreign investments mainly helps to improve the country’s balance of payments (BoP) situation and also strengthen the rupee value against other global currencies, especially dominant US dollar.
  • To attract inflow of foreign investments, the central government has announced several measures including liberalisation of FDI policy and improvement in business climate.
  • In the Budget 2017-18, Finance Minister further announced relaxation of foreign investment norms and also abolished Foreign Investment Promotion Board (FIPB).

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FIPB clears 6 FDI proposals worth Rs 1,187 crore

The Inter-ministerial body Foreign Investment Promotion Board (FIPB) approved six investment proposals envisaging foreign investments of Rs 1,186.5 crore.  Decision in this regard was taken by FIPB meeting headed by Economic Affairs Secretary Shaktikanta Das.

It has approved the proposals of Sanofi Synthelabo India, Star Den Media Services, Idea Cellular Infrastructure Services, Boehringer Ingelheim India Pvt. Ltd, Menarini India Private Limited and Recipharm Participation B.V. Netherlands.

Background

India allows FDI in most sectors through the automatic route, but in certain segments considered sensitive for the economy and security, then those proposals first have to be cleared by FIPB. The Union Government has taken a slew of measures in the recent past to boost foreign direct investment into the country. The FDI in the country has grown to $40 billion in the financial year 2015-16 as against $30.94 billion in the previous FY 2014-15.

About Foreign Investment Promotion Board (FIPB)

  • The FIPB is inter-ministerial body that offers a single window clearance for applications on Foreign Direct Investment (FDI) that are under the approval route.
  • The finance secretary is the chairman of the FIPB. It is housed in the Department of Economic Affairs, Union Ministry of Finance. Presently, FDI proposals up to 3,000 crore rupees are cleared by the FIPB.
  • However, those proposals involving FDI of more than 3,000 crore rupees are given final clearance by the Cabinet Committee on Economic Affairs (CCEA) headed by Prime Minister.

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FIPB clears 6 FDI proposals worth Rs 1,200 crore

The Foreign Investment Promotion Board (FIPB) has approved six Foreign Direct Investment (FDI) proposals worth Rs 1,200 crore. Decision in this regard was taken by FIPB meeting headed by Economic Affairs Secretary Shaktikanta Das.

It has approved the proposals of, Star Den Media Services, Sanofi Synthelabo India, Idea Cellular Infrastructure Services, Menarini India, Boehringer Ingelheim India and Recipharm Participation.

Background

India allows FDI in most sectors through the automatic route, but in certain segments considered sensitive for the economy and security, then those proposals first have to be cleared by FIPB. The Union Government has taken a slew of measures in the recent past to boost foreign direct investment into the country. The FDI in the country has grown to $40 billion in the financial year 2015-16 as against $30.94 billion in the previous FY 2014-15.

About Foreign Investment Promotion Board (FIPB)

The FIPB is inter-ministerial body that offers a single window clearance for applications on Foreign Direct Investment (FDI) that are under the approval route. The finance secretary is the chairman of the FIPB. It is housed in the Department of Economic Affairs, Union Ministry of Finance. Presently, FDI proposals up to 3,000 crore rupees are cleared by the FIPB. However, those proposals involving FDI of more than 3,000 crore rupees are given final clearance by the Cabinet Committee on Economic Affairs (CCEA).

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