Tag: Narendra Modi

Radical changes in FDI regime; Most sectors on automatic FDI route

MUMBAI: The Union Government has radically liberalized the FDI regime today, with the objective of providing major impetus to employment and job creation in India. The decision was taken at a high-level meeting chaired by Prime Minister Narendra Modi today. This is the second major reform after the last radical changes announced in November 2015. Now most of the sectors would be under automatic approval route, except a small negative list. With these changes, India is now the most open economy in the world for FDI.

In last two years, Government has brought major FDI policy reforms in a number of sectors viz. Defence, Construction Development, Insurance, Pension Sector, Broadcasting Sector, Tea, Coffee, Rubber, Cardamom, Palm Oil Tree and Olive Oil Tree Plantations, Single Brand Retail Trading, Manufacturing Sector, Limited Liability Partnerships, Civil Aviation, Credit Information Companies, Satellites- establishment/operation and Asset Reconstruction Companies. Measures undertaken by the Government have resulted in increased FDI inflows at US$ 55.46 billion in financial year 2015-16, as against US$ 36.04 billion during the financial year 2013-14. This is the highest ever FDI inflow for a particular financial year. However, it is felt that the country has potential to attract far more foreign investment which can be achieved by further liberalizing and simplifying the FDI regime. India today has been rated as Number 1 FDI Investment Destination by several International Agencies.

Accordingly the Government has decided to introduce a number of amendments in the FDI Policy. Changes introduced in the policy include increase in sectoral caps, bringing more activities under automatic route and easing of conditionalities for foreign investment. These amendments seek to further simplify the regulations governing FDI in the country and make India an attractive destination for foreign investors. Details of these changes are given in the following paragraphs:

1. Radical Changes for promoting Food Products manufactured/produced in India

It has now been decided to permit 100% FDI under government approval route for trading, including through e-commerce, in respect of food products manufactured or produced in India.

2. Foreign Investment in Defence Sector up to 100%

Present FDI regime permits 49% FDI participation in the equity of a company under automatic route. FDI above 49% is permitted through Government approval on case to case basis, wherever it is likely to result in access to modern and ‘state-of-art’ technology in the country. In this regard, the following changes have inter-alia been brought in the FDI policy on this sector:

i. Foreign investment beyond 49% has now been permitted through government approval route, in cases resulting in access to modern technology in the country or for other reasons to be recorded. The condition of access to ‘state-of-art’ technology in the country has been done away with.

ii. FDI limit for defence sector has also been made applicable to Manufacturing of Small Arms and Ammunitions covered under Arms Act 1959.

3. Review of Entry Routes in Broadcasting Carriage Services

FDI policy on Broadcasting carriage services has also been amended. New sectoral caps and entry routes are as under:

4. Pharmaceutical

The extant FDI policy on pharmaceutical sector provides for 100% FDI under automatic route in greenfield pharma and FDI up to 100% under government approval in brownfield pharma. With the objective of promoting the development of this sector, it has been decided to permit up to 74% FDI under automatic route in brownfield pharmaceuticals and government approval route beyond 74% will continue.
5. Civil Aviation Sector

(i) The extant FDI policy on Airports permits 100% FDI under automatic route in Greenfield Projects and 74% FDI in Brownfield Projects under automatic route. FDI beyond 74% for Brownfield Projects is under government route.

(ii) With a view to aid in modernization of the existing airports to establish a high standard and help ease the pressure on the existing airports, it has been decided to permit 100% FDI under automatic route in Brownfield Airport projects.

(iii) As per the present FDI policy, foreign investment up to 49% is allowed under automatic route in Scheduled Air Transport Service/ Domestic Scheduled Passenger Airline and regional Air Transport Service. It has now been decided to raise this limit to 100%, with FDI up to 49% permitted under automatic route and FDI beyond 49% through Government approval. For NRIs, 100% FDI will continue to be allowed under automatic route. However, foreign airlines would continue to be allowed to invest in capital of Indian companies operating scheduled and non-scheduled air-transport services up to the limit of 49% of their paid up capital and subject to the laid down conditions in the existing policy.

6. Private Security Agencies

The extant policy permits 49% FDI under government approval route in Private Security Agencies. FDI up to 49% is now permitted under automatic route in this sector and FDI beyond 49% and up to 74% would be permitted with government approval route.

7. Establishment of branch office, liaison office or project office

For establishment of branch office, liaison office or project office or any other place of business in India if the principal business of the applicant is Defence, Telecom, Private Security or Information and Broadcasting, it has been decided that approval of Reserve Bank of India or separate security clearance would not be required in cases where FIPB approval or license/permission by the concerned Ministry/Regulator has already been granted.

8. Animal Husbandry

As per FDI Policy 2016, FDI in Animal Husbandry (including breeding of dogs), Pisciculture, Aquaculture and Apiculture is allowed 100% under Automatic Route under controlled conditions. It has been decided to do away with this requirement of ‘controlled conditions’ for FDI in these activities.

9. Single Brand Retail Trading

It has now been decided to relax local sourcing norms up to three years and a relaxed sourcing regime for another five years for entities undertaking Single Brand Retail Trading of products having ‘state-of-art’ and ‘cutting edge’ technology.

Today’s amendments to the FDI Policy are meant to liberalise and simplify the FDI policy so as to provide ease of doing business in the country leading to larger FDI inflows contributing to growth of investment, incomes and employment.

June 20, 2016
Radical changes in FDI regime; Most sectors on automatic FDI route

MUMBAI: The Union Government has radically liberalized the FDI regime today, with the objective of providing major impetus to employment and job creation in India. The decision was taken at a high-level meeting chaired by Prime Minister Narendra Modi today. This is the second major reform after the last radical changes announced in November 2015. Now most of the sectors would be under automatic approval route, except a small negative list. With these changes, India is now the most open economy in the world for FDI.

In last two years, Government has brought major FDI policy reforms in a number of sectors viz. Defence, Construction Development, Insurance, Pension Sector, Broadcasting Sector, Tea, Coffee, Rubber, Cardamom, Palm Oil Tree and Olive Oil Tree Plantations, Single Brand Retail Trading, Manufacturing Sector, Limited Liability Partnerships, Civil Aviation, Credit Information Companies, Satellites- establishment/operation and Asset Reconstruction Companies. Measures undertaken by the Government have resulted in increased FDI inflows at US$ 55.46 billion in financial year 2015-16, as against US$ 36.04 billion during the financial year 2013-14. This is the highest ever FDI inflow for a particular financial year. However, it is felt that the country has potential to attract far more foreign investment which can be achieved by further liberalizing and simplifying the FDI regime. India today has been rated as Number 1 FDI Investment Destination by several International Agencies.

Accordingly the Government has decided to introduce a number of amendments in the FDI Policy. Changes introduced in the policy include increase in sectoral caps, bringing more activities under automatic route and easing of conditionalities for foreign investment. These amendments seek to further simplify the regulations governing FDI in the country and make India an attractive destination for foreign investors. Details of these changes are given in the following paragraphs:

1. Radical Changes for promoting Food Products manufactured/produced in India

It has now been decided to permit 100% FDI under government approval route for trading, including through e-commerce, in respect of food products manufactured or produced in India.

2. Foreign Investment in Defence Sector up to 100%

Present FDI regime permits 49% FDI participation in the equity of a company under automatic route. FDI above 49% is permitted through Government approval on case to case basis, wherever it is likely to result in access to modern and ‘state-of-art’ technology in the country. In this regard, the following changes have inter-alia been brought in the FDI policy on this sector:

i. Foreign investment beyond 49% has now been permitted through government approval route, in cases resulting in access to modern technology in the country or for other reasons to be recorded. The condition of access to ‘state-of-art’ technology in the country has been done away with.

ii. FDI limit for defence sector has also been made applicable to Manufacturing of Small Arms and Ammunitions covered under Arms Act 1959.

3. Review of Entry Routes in Broadcasting Carriage Services

FDI policy on Broadcasting carriage services has also been amended. New sectoral caps and entry routes are as under:

4. Pharmaceutical

The extant FDI policy on pharmaceutical sector provides for 100% FDI under automatic route in greenfield pharma and FDI up to 100% under government approval in brownfield pharma. With the objective of promoting the development of this sector, it has been decided to permit up to 74% FDI under automatic route in brownfield pharmaceuticals and government approval route beyond 74% will continue.
5. Civil Aviation Sector

(i) The extant FDI policy on Airports permits 100% FDI under automatic route in Greenfield Projects and 74% FDI in Brownfield Projects under automatic route. FDI beyond 74% for Brownfield Projects is under government route.

(ii) With a view to aid in modernization of the existing airports to establish a high standard and help ease the pressure on the existing airports, it has been decided to permit 100% FDI under automatic route in Brownfield Airport projects.

(iii) As per the present FDI policy, foreign investment up to 49% is allowed under automatic route in Scheduled Air Transport Service/ Domestic Scheduled Passenger Airline and regional Air Transport Service. It has now been decided to raise this limit to 100%, with FDI up to 49% permitted under automatic route and FDI beyond 49% through Government approval. For NRIs, 100% FDI will continue to be allowed under automatic route. However, foreign airlines would continue to be allowed to invest in capital of Indian companies operating scheduled and non-scheduled air-transport services up to the limit of 49% of their paid up capital and subject to the laid down conditions in the existing policy.

6. Private Security Agencies

The extant policy permits 49% FDI under government approval route in Private Security Agencies. FDI up to 49% is now permitted under automatic route in this sector and FDI beyond 49% and up to 74% would be permitted with government approval route.

7. Establishment of branch office, liaison office or project office

For establishment of branch office, liaison office or project office or any other place of business in India if the principal business of the applicant is Defence, Telecom, Private Security or Information and Broadcasting, it has been decided that approval of Reserve Bank of India or separate security clearance would not be required in cases where FIPB approval or license/permission by the concerned Ministry/Regulator has already been granted.

8. Animal Husbandry

As per FDI Policy 2016, FDI in Animal Husbandry (including breeding of dogs), Pisciculture, Aquaculture and Apiculture is allowed 100% under Automatic Route under controlled conditions. It has been decided to do away with this requirement of ‘controlled conditions’ for FDI in these activities.

9. Single Brand Retail Trading

It has now been decided to relax local sourcing norms up to three years and a relaxed sourcing regime for another five years for entities undertaking Single Brand Retail Trading of products having ‘state-of-art’ and ‘cutting edge’ technology.

Today’s amendments to the FDI Policy are meant to liberalise and simplify the FDI policy so as to provide ease of doing business in the country leading to larger FDI inflows contributing to growth of investment, incomes and employment.

June 20, 2016
India and US working on a joint Cyber Relationship document

NEW DELHI: India and the United States have agreed to ensure shared understanding of technology access policy, including dual use technologies sought to be controlled by either country, including through such mechanisms as the bilateral High Technology Cooperation Group.

It was decided during the current visit of Prime Minister Narendra Modi to the United states that the complete Framework for the U.S.-India Cyber Relationship will be signed within 60 days.

According to a government release, reiterating a commitment to promote the free flow of information, the two countries will work towards an open, interoperable, secure, and reliable cyberspace environment; and a commitment to promote the Internet as an engine for innovation, economic growth, and trade and commerce.

It was announced after a meeting between Modi and President Barrack Obama that cooperation on cyber issues is a key component of the bilateral relationship between India and the United States.

The two countries have a strategic cyber relationship that reflects their shared values, common vision, and shared principles for cyberspace. Both sides recognize the value of enhancing and further institutionalizing their broad-based cooperation on cyber issues.

The two countries intend to complete a framework that will include a commitment to promote cooperation between and among the private sector and government authorities on cybercrime and cybersecurity.

There will be recognition of the importance of bilateral and international cooperation for combating cyber threats and promoting cybersecurity, and a commitment to respect cultural and linguistic diversity, and promote international security and stability in cyberspace through a framework that recognizes the applicability of international law, in particular the UN Charter, to state conduct in cyberspace and the promotion of voluntary norms of responsible state behaviour in cyberspace.

There will be a commitment to the multistakeholder model of Internet governance that is transparent and accountable to its stakeholders, including governments, civil society and the private sector, and promotes cooperation among them.

There will be recognition of the leading role for governments in cyber security matters relating to national security, of the importance of and a shared commitment to cooperate in capacity building in cyber security and cyber security research and development, and a ommitment to promote closer cooperation among law enforcement agencies to combat cybercrime between the two countries.

Other subjects relate to strengthening the security and resilience of critical information infrastructure; Identifying, coordinating, sharing, and implementing cybersecurity best practices; sharing information on a real time or near real time basis, when practical and consistent with existing bilateral arrangements, about malicious cybersecurity threats, attacks and activities, and establishing appropriate mechanisms to improve such information sharing; and developing joint mechanisms for practical cooperation to mitigate cyber threats to the security of ICT infrastructure and information contained therein consistent with their respective obligations under domestic and international law.

June 8, 2016
India and US working on a joint Cyber Relationship document

NEW DELHI: India and the United States have agreed to ensure shared understanding of technology access policy, including dual use technologies sought to be controlled by either country, including through such mechanisms as the bilateral High Technology Cooperation Group.

It was decided during the current visit of Prime Minister Narendra Modi to the United states that the complete Framework for the U.S.-India Cyber Relationship will be signed within 60 days.

According to a government release, reiterating a commitment to promote the free flow of information, the two countries will work towards an open, interoperable, secure, and reliable cyberspace environment; and a commitment to promote the Internet as an engine for innovation, economic growth, and trade and commerce.

It was announced after a meeting between Modi and President Barrack Obama that cooperation on cyber issues is a key component of the bilateral relationship between India and the United States.

The two countries have a strategic cyber relationship that reflects their shared values, common vision, and shared principles for cyberspace. Both sides recognize the value of enhancing and further institutionalizing their broad-based cooperation on cyber issues.

The two countries intend to complete a framework that will include a commitment to promote cooperation between and among the private sector and government authorities on cybercrime and cybersecurity.

There will be recognition of the importance of bilateral and international cooperation for combating cyber threats and promoting cybersecurity, and a commitment to respect cultural and linguistic diversity, and promote international security and stability in cyberspace through a framework that recognizes the applicability of international law, in particular the UN Charter, to state conduct in cyberspace and the promotion of voluntary norms of responsible state behaviour in cyberspace.

There will be a commitment to the multistakeholder model of Internet governance that is transparent and accountable to its stakeholders, including governments, civil society and the private sector, and promotes cooperation among them.

There will be recognition of the leading role for governments in cyber security matters relating to national security, of the importance of and a shared commitment to cooperate in capacity building in cyber security and cyber security research and development, and a ommitment to promote closer cooperation among law enforcement agencies to combat cybercrime between the two countries.

Other subjects relate to strengthening the security and resilience of critical information infrastructure; Identifying, coordinating, sharing, and implementing cybersecurity best practices; sharing information on a real time or near real time basis, when practical and consistent with existing bilateral arrangements, about malicious cybersecurity threats, attacks and activities, and establishing appropriate mechanisms to improve such information sharing; and developing joint mechanisms for practical cooperation to mitigate cyber threats to the security of ICT infrastructure and information contained therein consistent with their respective obligations under domestic and international law.

June 8, 2016
‘Mission 11 Million’ to engage children in football from October

NEW DELHI: All states and Union Territories have been urged to take necessary steps to popularize and promote the sport of football in their territory in order to make the FIFA U-17 World Cup a huge success by including Football in various programmes of the State Governments.

In a letter sent to all chief secretaries of states and union territories, Department of Sports secretary Rajiv Yadav said that FIFA U-17 World Cup is going to be held in India in October 2017 and it is the first time that this prestigious tournament will be held in India.

Referring to Prime Minister Narendra Modi’s ‘Mann ki Baat’ programme on 27 March, the letter said that Modi had called for building an atmosphere and fervour of football in the country as a run up to the FIFA U-17 World Cup. He wants football to be played in every nook and corner of the country.

The communication said that following the call of the Prime Minister, the Department of Sports had initiated a series of steps to popularize football throughout the country. Several rounds of discussion have been held with FIFA, AIFF, KVS, CBSE, Subroto Mukerjee Sports Education Society and other stakeholders to firm up appropriate programmes.

As a result, ‘Mission 11 Million’ programme has been formulated and will be launched in coordination with FIFA in about 30 cities across the country. The letter said the primary objective of the programme is to engage more than 11 million children in activities relating to football. It said the programme is likely to be launched in October this year.

May 28, 2016
‘Mission 11 Million’ to engage children in football from October

NEW DELHI: All states and Union Territories have been urged to take necessary steps to popularize and promote the sport of football in their territory in order to make the FIFA U-17 World Cup a huge success by including Football in various programmes of the State Governments.

In a letter sent to all chief secretaries of states and union territories, Department of Sports secretary Rajiv Yadav said that FIFA U-17 World Cup is going to be held in India in October 2017 and it is the first time that this prestigious tournament will be held in India.

Referring to Prime Minister Narendra Modi’s ‘Mann ki Baat’ programme on 27 March, the letter said that Modi had called for building an atmosphere and fervour of football in the country as a run up to the FIFA U-17 World Cup. He wants football to be played in every nook and corner of the country.

The communication said that following the call of the Prime Minister, the Department of Sports had initiated a series of steps to popularize football throughout the country. Several rounds of discussion have been held with FIFA, AIFF, KVS, CBSE, Subroto Mukerjee Sports Education Society and other stakeholders to firm up appropriate programmes.

As a result, ‘Mission 11 Million’ programme has been formulated and will be launched in coordination with FIFA in about 30 cities across the country. The letter said the primary objective of the programme is to engage more than 11 million children in activities relating to football. It said the programme is likely to be launched in October this year.

May 28, 2016
DD Bharati telecasts mutual interest programs coinciding with Prez’s visit to China

NEW DELHI: Doordarshan and China’s pubcaster CCTV (China Central Television) are telecasting series of programmes aimed at fostering better people to people understanding between the two countries to coincide with the visit of president Pranab Mukherjee to China.

The president is in China from today to 27 May and this has led to an interesting exchange of programmes between the public broadcasters of two countries..

This exchange of programmes comes under the ambit of an MOU signed in May 2015, when prime minister Narendra Modi and Chinese premier Li Keqiang expanded the cooperation between the two countries from films to television co-productions.

Prasar Bharati CEO Jawahar Sircar had played an instrumental role in the signing of this agreement with CCTV President Nie Chen Xi.

The telecast of the selected programmes on the two platforms is on gratis basis. The genre of the programmes range from art, culture, education, science, wildlife, entertainment, tourism, adventure sports, news and current affairs along with human interest, development and success stories.

DD Bharati scheduled four documentaries of which the first telecast last night was titled‘Laughing Meat Balls’. This documentary gave viewers a valuable peep into the biopic of the founder of the Laughing Meat Balls club. Narrating the overall achievements and qualities of this theatre group, the documentary clearly highlights the essence of traditional Chinese opera.

A documentary titled ‘A Family of Bowyers’ will be telecast on today at 7:30 pm. The repeat telecast will air on 25 May at 3:30 am and at 11:30 am. This documentary outlines the traditional family trade of quality bow making.

A third documentary titled ‘My Solo Tour to France’ will be telecast on 25 May at 7:30 pm. The repeat telecast will air on 26 May at 3:30 am and at 11:30 am. It is a story about a person who takes his bicycle to tour the extensive journey of France. The cyclist narrates his experiences and happening during his tour in France.

The fourth documentary titled ‘Wildlife Photographer’ on 26 May at 7:30 pm will be repeated on 27 May at 3:30 am and at 11:30 am. The film highlights the wildlife photography in China. Apart from the traditional equipment the film also highlight usage of latest electronic and other professional accessories to achieve the best result.

May 24, 2016
DD Bharati telecasts mutual interest programs coinciding with Prez’s visit to China

NEW DELHI: Doordarshan and China’s pubcaster CCTV (China Central Television) are telecasting series of programmes aimed at fostering better people to people understanding between the two countries to coincide with the visit of president Pranab Mukherjee to China.

The president is in China from today to 27 May and this has led to an interesting exchange of programmes between the public broadcasters of two countries..

This exchange of programmes comes under the ambit of an MOU signed in May 2015, when prime minister Narendra Modi and Chinese premier Li Keqiang expanded the cooperation between the two countries from films to television co-productions.

Prasar Bharati CEO Jawahar Sircar had played an instrumental role in the signing of this agreement with CCTV President Nie Chen Xi.

The telecast of the selected programmes on the two platforms is on gratis basis. The genre of the programmes range from art, culture, education, science, wildlife, entertainment, tourism, adventure sports, news and current affairs along with human interest, development and success stories.

DD Bharati scheduled four documentaries of which the first telecast last night was titled‘Laughing Meat Balls’. This documentary gave viewers a valuable peep into the biopic of the founder of the Laughing Meat Balls club. Narrating the overall achievements and qualities of this theatre group, the documentary clearly highlights the essence of traditional Chinese opera.

A documentary titled ‘A Family of Bowyers’ will be telecast on today at 7:30 pm. The repeat telecast will air on 25 May at 3:30 am and at 11:30 am. This documentary outlines the traditional family trade of quality bow making.

A third documentary titled ‘My Solo Tour to France’ will be telecast on 25 May at 7:30 pm. The repeat telecast will air on 26 May at 3:30 am and at 11:30 am. It is a story about a person who takes his bicycle to tour the extensive journey of France. The cyclist narrates his experiences and happening during his tour in France.

The fourth documentary titled ‘Wildlife Photographer’ on 26 May at 7:30 pm will be repeated on 27 May at 3:30 am and at 11:30 am. The film highlights the wildlife photography in China. Apart from the traditional equipment the film also highlight usage of latest electronic and other professional accessories to achieve the best result.

May 24, 2016
Modi lauds AIR for Mann ki Baat simulcast across radio, TV, DTH, internet

NEW DELHI: Prime Minister Narendra Modi has lauded All India Radio for broadcasting his monthly Mann ki Baat in regional languages on the day he talks to the nation.

The broadcast is visually adapted by Doordarshan and other private TV and news channels in India simultaneously. Similarly, radio in the private sector patches AIR. All DTH operators also carry it.

It is live streamed for global audience and is accessible through mobile app, allindiaradio.gov.in, apart from the narendramodi.in/mankibaat, mygov.in, and the Narendra Modi app.

During his monthly broadcast for this month, he said he was also gratified that people were writing to him either on the Narendra Modi app, or mygov.in.

This was the twentieth time that he talked to the nation through the broadcast which coincided with the completion of two years of his government which assumed office on 20 May 2014.

He said that initially, a ten-digit missed call had to be made to get a call back to listen to his broadcast. But now one had to dial 1922 toll free and listen to him.

The broadcast by the entire network of AIR includes all stations, all AIR FM channels (FM Gold and FM Rainbow), local radio stations, Vividh Bharati Stations and five community radio stations.

It is also broadcast by the Urdu and Hindi Services of the External Services of All India Radio for listeners in the Indian sub-continent and the Indian diaspora spread across the globe.

The regional versions of the Mann Ki Baat are played at capital AIR stations in non-Hindi speaking zones at 8.00 pm hours on the same day. The regional versions are relayed by all AIR stations including local radio stations in the respective states. The English version of Mann Ki Baat is also broadcast by AIR Delhi at 8.00 pm the same day and also broadcast by the General Overseas Service.

May 23, 2016
Modi lauds AIR for Mann ki Baat simulcast across radio, TV, DTH, internet

NEW DELHI: Prime Minister Narendra Modi has lauded All India Radio for broadcasting his monthly Mann ki Baat in regional languages on the day he talks to the nation.

The broadcast is visually adapted by Doordarshan and other private TV and news channels in India simultaneously. Similarly, radio in the private sector patches AIR. All DTH operators also carry it.

It is live streamed for global audience and is accessible through mobile app, allindiaradio.gov.in, apart from the narendramodi.in/mankibaat, mygov.in, and the Narendra Modi app.

During his monthly broadcast for this month, he said he was also gratified that people were writing to him either on the Narendra Modi app, or mygov.in.

This was the twentieth time that he talked to the nation through the broadcast which coincided with the completion of two years of his government which assumed office on 20 May 2014.

He said that initially, a ten-digit missed call had to be made to get a call back to listen to his broadcast. But now one had to dial 1922 toll free and listen to him.

The broadcast by the entire network of AIR includes all stations, all AIR FM channels (FM Gold and FM Rainbow), local radio stations, Vividh Bharati Stations and five community radio stations.

It is also broadcast by the Urdu and Hindi Services of the External Services of All India Radio for listeners in the Indian sub-continent and the Indian diaspora spread across the globe.

The regional versions of the Mann Ki Baat are played at capital AIR stations in non-Hindi speaking zones at 8.00 pm hours on the same day. The regional versions are relayed by all AIR stations including local radio stations in the respective states. The English version of Mann Ki Baat is also broadcast by AIR Delhi at 8.00 pm the same day and also broadcast by the General Overseas Service.

May 23, 2016