As the Make in India campaign launched by Prime Minister Narendra Modi completes two years, the government on September 25 announced that foreign direct investment (FDI) inflows into the country had recorded their highest level on the basis of a yearly comparision. “India records its highest ever…
Tag: FDI
SME body demands separate Ministry in states for sector
Vadodara: An industry body of Micro and Small enterprises has sought for a separate ministry in states to address issues related to sector. The annual general meeting of the Laghu Udhyog Bharti (LUB) will be held on September 25 wherein issues related to the national MSME policy, GST and FDI will…
Recommendations to raise tax holiday sent to Fin Min: Nirmala Sitharaman
Union Minister Nirmala Sitharaman said her Ministry has recommended the Ministry of Finance to raise tax holiday for start-ups from three years to seven with a sense of constructive and positive approach, and was awaiting a response. “They (Finance Ministry) have received the recommendation…
Health care start-ups see low levels of funding: KPMG
The Indian health care sector is expected to be worth $280 billion by 2020 and has been growing at a compound annual growth rate of 16% since 2011. The health care workforce required in India is likely to double to 7.4 mn by 2022 from 3.6 mn in 2013. India received $288,634 mn aggregate foreign […
Focus on MSMEs for creation of jobs, says CEO of KPMG India
As India looks to grow at over 7% in the next two years, it will have to focus on sectors like tourism, retail, textile, leather and construction to create more jobs, said Richard Rekhy, Chief Executive Officer of KPMG India. As per government data, only 1,35,000 jobs were created till October la…
Grofers India seeks govt approval for FDI in food trading
Grocery delivery start-up Grofers has sought government’s approval for foreign direct investment to carry out trading in food products. The government has recently permitted 100 percent FDI under government approval for trading, including through e-commerce, in respect of food products manu…
Food processing sector to treble in coming years: Harsimrat Kaur Badal
India’s food processing industry is expected to treble in the coming years on the back of higher economic growth and government initiatives like 100 per cent FDI in marketing of food items, Union Minister Harsimrat Kaur Badal said. At present, the size of India’s food processing industry is about…
Many reforms coming, GST will get SMEs into value chain: Economic Affairs Secretary
Committing to “many more reforms”, a top Finance Ministry official said implementation of the Goods and Services Tax (GST) will bring Small and Medium Enterprises (SMEs) into the national value chain. “The government is aware that many more reforms need to be taken. After implem…
E-commerce committee meets to discuss sector-related issues
The e-commerce committee headed by NITI Aayog CEO Amitabh Kant held its first meeting to deliberate on issues related with the sector. In the meeting, the Department of Industrial Policy and Promotion (DIPP) and IT body NASSCOM gave detailed presentations to the members on fast the growing e-comm…
Cabinet approves recent changes in FDI policy
Cabinet on August 31 gave its approval to the “radical” changes in the foreign direct investment regime that had sought to increased FDI to 100 percent in defence and liberalised the policy for several other sectors. On June 20, the government had “radically liberalised” t…