India has a liberal Foreign Direct Investment (FDI) policy wherein most of the sectors are open to Foreign Direct Investment (FDI) on the automatic route except a few which are either prohibited or restricted for FDI. The clearances and permissions for setting up industries are granted by various authorities at the central and state level. Data on the permissions granted/denied is not centrally maintained.
There is no proposal to increase the FDI limit in broadcasting, print and electronic media.
The Insurance Laws (Amendment) Bill, 2008 proposes to raise the FDI limit in Indian insurance companies from 26% to 49%.
Government has held consultations with concerned Ministries including the Ministry of Home Affairs to address the issues raised by them including security related issues.
Government has approved an amendment in the definition of ˜control™ under the FDI policy, in order to expand the definition to cover ˜control™ exercisable inter-alia, through management and policy decisions, shareholding, management rights, shareholders agreements and to ensure alignment with the definition in the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and the definition proposed in the Companies Bill, 2012.
Decisions by companies on shifting their offices from one place to another are private business decisions, information on which is not centrally maintained.
Government plays an active role in the promotion of investment in all sectors and from all countries, through dissemination of information on policies, regulations and investment opportunities in the country.
Government has also set up ˜Invest India™, a joint venture company between Department of Industrial Policy & Promotion and FICCI as a single window facilitator for prospective overseas investors.
This information was given by the Minister of Commerce & Industry, Shri Anand Sharma in a written reply in the Lok Sabha today.
Tags: Anand Sharma, Department of Industrial Policy & Promotion, FDI, FICCI, foreign direct investment, India, Lok Sabha, Ministry of Home Affairs