Page 7 - Latest Updates on FDI
Supreme Court to hear stayed ruling on tax residency certificates in March
The Delhi High Court had in January 2023 said that TRC is sufficient for a foreign investor's claim to pay zero or lower tax under treaties between India and foreign jurisdictions
 "Supreme Court to hear stayed ruling on tax residency certificates in March")
India's outward FDI nosedives to $2.25 billion in December: RBI data
Outbound FDI, expressed as a financial commitment, comprises three components: equity, loans, and guarantees
 "India's outward FDI nosedives to $2.25 billion in December: RBI data")
Outgrowing Apple
India must approach its industrial policy with a lighter and practical, reform-oriented touch instead of trying to deal with individual companies like Apple or Tesla
 "Outgrowing Apple")
Tamil Nadu govt's 3rd Global Investors Meet set to begin on January 7
A host of representatives from several multinational companies, over 450 international delegates, and representatives from 50 countries are expected to attend the two-day event
 "Tamil Nadu govt's 3rd Global Investors Meet set to begin on January 7")
'Vibrant Gujarat summits helped state get $55 bn FDI in two decades'
The Vibrant Gujarat Global Summit (VGGS) has grown in tandem with the state economy, and since its humble beginning, it proved to be a gateway for foreign investment in state, industry leaders said
PM Modi to inaugurate Vibrant Gujarat Global Summit on January 10
The previous Vibrant Gujarat Summit was held in 2019. Due to the coronavirus outbreak and subsequent lockdown, it could not be organised in the last few years
 "PM Modi to inaugurate Vibrant Gujarat Global Summit on January 10")
Foreign investments into Indian bonds reached six-year high in 2023
The U.S. 10-year bond yield has fallen to around 3.85% on rate cut hopes, widening the spread with its Indian peer to 335 basis points from around 240 bps in late October
 "Foreign investments into Indian bonds reached six-year high in 2023")
Maharashtra now preferred destination for overseas investments: CM Shinde
Maharashtra has become a preferred destination for investments from various countries, reflecting the state's conducive business environment, Chief Minister Eknath Shinde has said
 "Maharashtra now preferred destination for overseas investments: CM Shinde")
Gujarat received FDI worth Rs 2.39 trn from Oct 2019 to March 2023
Gujarat has received foreign direct investment worth Rs 2.39 lakh crore or $31 billion between October 2019 and March 2023 and is among the top Indian states in attracting FDI
 "Gujarat received FDI worth Rs 2.39 trn from Oct 2019 to March 2023")
National e-commerce policy in final stages, may be announced soon: Goyal
In August, the Department for Promotion of Industry and Internal Trade (DPIIT) held a detailed discussion with representatives of e-commerce firms and a domestic traders' body on the proposed policy
 "National e-commerce policy in final stages, may be announced soon: Goyal")
India's private space industry seeks bold reforms, clarity on FDI
According to industry estimates, the private space sector in India accounts for about two per cent of the global space economy and is projected to grow to about 10 per cent by 2040
 "India's private space industry seeks bold reforms, clarity on FDI")
Revitalising FDI
India will need to increase its appeal
FDI inflows can rise as India remains preferred investment destination
In the January-September period this year, Foreign Direct Investment (FDI) into the country declined 22 per cent to $ 48.98 billion. The inflow was at $ 62.66 billion in the year-ago period
 "FDI inflows can rise as India remains preferred investment destination")
Net FDI into India touches 21-month high at $5.9 billion in October
April-October 23 FDI declines to $10.4 bn
 "Net FDI into India touches 21-month high at $5.9 billion in October")
Outward FDI halves Y-o-Y to $1.55 billion in November, shows RBI data
Outbound FDI, expressed as a financial commitment, comprises three components - equity, loans, and guarantees
 "Outward FDI halves Y-o-Y to $1.55 billion in November, shows RBI data")
BBC World Service India to restructure shareholding for FDI norm compliance
In response to the Centre's FDI guidelines, BBC World Service India, 99.99 per cent owned by BBC, may initiate a shareholding restructuring, potentially involving stake offerings to key executives
 "BBC World Service India to restructure shareholding for FDI norm compliance")
Germany remains Europe's top destination for foreign direct investment
Other countries such as Switzerland and France have also noted declines as companies lean towards mergers and acquisitions rather than investments in an uncertain economic environment
 "Germany remains Europe's top destination for foreign direct investment")
Out of Rs 1 trn worth of FDI proposals from bordering nations, half cleared
Countries which share land borders with India are China, Bangladesh, Pakistan, Bhutan, Nepal, Myanmar and Afghanistan
Sharp decline in FDI into India from Cayman Islands, Cyprus during H12023
FDI from Cayman Islands dipped 75 per cent to $145 million during April-September from $582 million in the same period last fiscal, the data showed
India to act as automaker Toyota Motor Corporation's regional Hub
Last month TKM announced fresh investments of Rs 3,300 crore for setting up of a new plant by 2026, with an annual production capacity of 1 lakh units, while generating around additional 2,000 jobs
 "India to act as automaker Toyota Motor Corporation's regional Hub")
