TEN POINTS: FDI in India and the latest developments
1. India has been ranked at the third place in global foreign direct investments in 2009 and will continue to remain among the top five attractive destinations for international investors during 2010-11, according to United Nations Conference on Trade and Development (UNCTAD) in a new report on world investment prospects. 2. FDI in India is down by 26% (in Indian rupees) in the period Jan – Mar 2010 corresponding to the same period in the previous year. 3. The annual average FDI and foreign portfolio investment (FPI) for 19972010 shows that inflows to India were lower than those to Argentina, Brazil, China, Korea, Thailand and Malaysia. 4. FDI is proposed to be opened up for Defence sector (currently 26% to 74%) – decision to be taken in Sep 2010 5. DIPP has proposed opening up of FDI in the multi brand retail segment 6. The recommendations include job reservations for local youth, stiff local sourcing requirements and mandatory investments in backward linkages, as a prerequisite to FDI infusion in retail sector 7. RBI has ruled that foreign venture capital funds will have to provide their financial statements for regulatory approval to invest in India 8. The value of private equity- backed deals globally stood at $43.3 billion in the April-June quarter of 2010, registering a 60 per cent jump over the previous quarter, says the latest study 9. During the 2000-2010 period, the maximum foreign direct investment inflows into the country came through the Mauritius route. The Indian Ocean nation has pumped in a whopping USD 47.24 billion into the country during the period, constituting 43 percent of the total FDI inflow. 10. Domestic companies routing their investments through Mauritius may soon have to pay capital gains tax
INTERNATIONAL BUSINESS July 12, 2010 | Class 2 @ HKIMSR (MMS-Sem III)
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