Some from within the government have also slammed the taxation changes.
The RBI’s relentless high interest rates are killing the new entrepreneurial class and has forced India’s growth rate to fall below the average of the past 30 years.
Deals signed included subject areas like homeopathic research, film production and cyber security. Defence cooperation remained under wraps.
Six years after Modi stated FDI in retail would help “Italian businessmen”, his government has done away with mandatory sourcing conditions.
Now foreign companies can invest upto 100% through the automatic route in their single brand retail operations in India.
While synergising state and business interests through ‘single window’ mechanisms helps investors, it can compromise the role of regulatory agencies like the state pollution control board.
Nearly 50% of the $44 billion that came in as foreign direct investment inflows in 2016 went towards brownfield projects.
Asian countries must take steps to rationalise tax competition and build cooperation on tax matters, both at the regional and the global level.
India aims to double the value of exports to $900 billion by 2019. Given sluggish global demand and our own export slump, there is no way that this objective can be achieved.
Data reveals that a substantial portion of India’s FDI inflows comes from foreign investors claiming bigger stakes in Indian start-ups and brownfield ventures across various sectors. What does this mean for job creation?
While Indo-US relations will likely remain the same, an indirect in terms of trade, climate change and security should be watched for.
Long term trends suggest India’s growth story is kept alive through higher government expenditure: GDP from public administration has now surpassed the GDP from the agriculture sector.
The negative growth in overall investment in April-June also knocks the bottom out of the government’s oft repeated claims that India is attracting unprecedented FDI flows because of new policy measures.
The ‘Make In India’ campaign aims to make India a global manufacturing hub, but RBI data suggests that both FDI in manufacturing and the percentage of FDI flowing to manufacturing declined in 2015-16.
Automation is deindustrialising India, which is not sufficiently innovative to face up to the threats posed by artificial intelligence, nor equipped to build on its mainstay capabilities in agriculture and other traditional industries.
A look at the domestic and global impact of the UK leaving the European Union, and whether or not holding a referendum to decide the matter is good idea.
The ‘ease of doing business’ is being promoted at the cost of socio-economic factors including employment generation and agricultural livelihoods.
The key reform decisions makes India the most open economy in the world for foreign direct investment.
The showcause notice said the ED probed the foreign direct investment received by Ms Devas Multimedia Private Limited Bangalore from various overseas investors and found this to violate FEMA and FIPB rules.
As usual, there was a grain of truth along with the exaggeration and sleight-of-hand that we have come to expect from the prime minister.
Modi’s foreign policy and travels have focused on attracting foreign investments, but the task of translating commitments into reality rests with the MEA, which needs greater resources.
Modi has not hidden the fact that the principal goal of his visit was to sell his economic agenda in a city which is one of two great financial centres of the world.