Menu
BW CFO World
Community for Finance Professionals, Consultants and allied businesses
  • Home
  • News
  • Videos
  • Articles
    • Credit & Capital
    • Economic Trends
    • Financial Compliance
    • Financial Leadership
    • Financial Management
    • Financial Reporting
    • Financial Strategy
    • Risk Management
    • Taxation
  • Featured
  • Nominate for Awards
Close Menu
FDI
September 21, 2021

Max FDI Proposals In 3 Departments From Neighbouring Countries

admin Credit & Capital

The major sectors under which these FDI proposals mainly came included manufacturing of heavy machinery, automobile, auto components; computer software and hardware; trading, e–commerce, and manufacturing of light engineering and electrical.

The government has received maximum Foreign Direct Investment (FDI) proposals in three departments being electronics and IT, industry and internal trade, and heavy industries from countries sharing land border with India, an official said. In April 2020, the Government had made its prior approval mandatory for foreign investments from countries that share land border with India to curb opportunistic takeovers of domestic firms following the COVID-19 pandemic.

Countries which share land borders with India are China, Bangladesh, Pakistan, Bhutan, Nepal, Myanmar and Afghanistan. As per that decision, FDI proposals from these countries need government approval for investments in India in any sector. The major sectors under which these FDI proposals mainly came included manufacturing of heavy machinery, automobile, auto components; computer software and hardware; trading, ecommerce, and manufacturing of light engineering and electrical, the official said.

Besides, these three departments, the ministry of new and renewable energy and department of pharmaceuticals have also received several proposals from these countries, the official added. Further, pending FDI proposals received under this decision up to June 15 this year in the Ministry of Electronics and IT; Department for Promotion of Industry and Internal Trade (DPIIT); and Ministry of Heavy Industries are over 40.

Most of the foreign investment proposals have come from China and Hong Kong. Besides, Nepal, Bhutan and Bangladesh too have submitted certain applications.

In April this year, the Department for Promotion of Industry and Internal Trade (DPIIT) came out with a press note stating that a company or an individual from a country that shares land border with India can invest in any sector here only after getting government approval. An inter-ministerial committee has been formed by the government to scrutinise these proposals, they said adding most of the investments are for brownfield projects (means in existing Indian companies). All administrative ministries and departments have been advised to have dedicated FDI cells to process these proposals expeditiously. India has received USD 17.6 billion worth of FDI during April-June this fiscal.

(PTI)

→

55 Per Cent Biz Leaders State Increase In Costs, Peg Inflation At 5.59 Per Cent: IIMA Study Deloitte CEO: FDI Key For India’s Aspirations Of USD 5 Trillion Economy

Related Posts

Chandrasekar-K-1

Credit & Capital, Economic Trends

Leading with empathy is the correct mantra for success

20220331_113353

Credit & Capital, Economic Trends

Govt orders probe into fire incident involving Ola

indian rupee

Credit & Capital, Economic Trends

Asian stocks rise as Ukraine peace talks appear to progress

Movements

  • adobe danDan Durn Appointed As Adobe’s New Chief Financial Officer
  • Vineet Mahajan_Vineet Mahajan Appointed As New CFO Of Avanse Financial Services On Sept 27
  • bharat pet director financeVetsa Ramakrishna Gupta To Lead Bharat Petroleum As Director Finance
  • tender cuts cfoTenderCuts Names Satya Rakesh as New CFO
  • dailmer CFOManish Thakore Helms Daimler India Commercial Vehicles as CFO

Selected Stories

  • Chandrasekar-K-1Leading with empathy is the correct mantra for success

    Read more

  • 20220331_113353Govt orders probe into fire incident involving Ola

    Read more

  • indian rupeeAsian stocks rise as Ukraine peace talks appear to progress

    Read more

  • economyTata Coffee rallies nearly 13 pc; Tata Consumer jumps over 5 pc

    Read more

  • rupeeRupee rises 4 paise to 75.69 against US dollar in early trade

    Read more

Categories

  • Accounting
  • CFO Stance
  • Credit & Capital
  • Economic Trends
  • Featured
  • Financial Compliance
  • Financial Leadership
  • Financial Management
  • Financial Reporting
  • Financial Strategy
  • Financial Technologies
  • Global News
  • Interview
  • Movements
  • Risk Management
  • Taxation

Recent Comments

    Back To Top
    BW CFO World
    • Home
    • News
    • Videos
    • Articles
      • Credit & Capital
      • Economic Trends
      • Financial Compliance
      • Financial Leadership
      • Financial Management
      • Financial Reporting
      • Financial Strategy
      • Risk Management
      • Taxation
    • Featured
    • Nominate for Awards
    © Copyright BW BUSINESSWORLD 2018. All Rights Reserved.