Published: Sat, January 13, 2018
People | By Leon Thompson

Come Fly With Us, India Tells Foreign Investors

These are meant to liberalise and simplify the FDI policy so as to provide ease of doing business in the country.

"It has been made a decision to permit single brand retail trading entity to set off its incremental sourcing of goods from India for global operations during initial five years, beginning April 1 of the year of the opening of first store against the mandatory sourcing requirement of 30% of purchases from India", the statement said.

Foreign carriers can buy up to 49 per cent in the loss-making national airline, the government said.

Opposing the disinvestment of Air India, Mahajan said the finances of national airline are in deep trouble, but allowing foreign investment is not the best of the solutions for ending its troubles.

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"Deloitte India Partner Anil Talreja said allowing 100 per cent foreign direct investment (FDI) in single brand retail trade should act as a catalyst for a large number of retailers that have been exploring Indian market". As a major move that will ease foreign investments, the government has approved 100 percent FDI through automatic routing, which will be heavily useful. A consultant has been appointed; the process is expected to start in February; and now, there's the announcement that foreign airlines can hold 49% as long as control and management is with Indians or Indian companies.

The Centre of Indian Trade Unions (CITU) on Thursday denounced the decision of the government to allow 49 per cent foreign direct investment (FDI) in Air India and said it was aimed at expediting the privatisation of the national carrier. This brings Air India, which previously had to be fully locally owned, in line with the country's other local airlines in which foreign investment is allowed. Overseas investment policy has also been liberalised in case of power exchanges.

"Measures undertaken by the government have resulted in increased FDI inflows in to the country".

"During the year 2014-15, total FDI inflows received were $45.15 billion as against $36.05 billion in 2013-14". Accordingly, the Government has chose to introduce a number of amendments in the FDI Policy. In the financial year 2016-17, total FDI of USA $ 60.08 billion has been received, which is an all-time high.

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