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FM Nirmala Sitharaman reviews progress of proposed LIC IPO : Rashtra News #Nirmala #Sitharaman #reviews #progress #proposed #LIC #IPO Finance minister Nirmala Sitharaman on Friday reviewed the progress of the proposed initial public offering (IPO) of Life Insurance Corporation of India (LIC). The review comes amid hectic preparations for the upcoming budget. The government has
India’s decision to revise its Foreign Direct Investment (FDI) norms for the space sector is expected to bring in fresh foreign investments up to $25 billion over the next decade and result in a wave of collaborations between Indian and foreign companies, said a senior official of SIA-India. �� Union Cabinet Gives Nod for up to 100% FDI in Space Sector: Space Industry Welcomes New Norms, Expects USD 25 Billion Fresh Investment in 10 Years.
“Under the amended FDI policy, 100% FDI is allowed in space sector,” a press release said.
“We believe once the FDI policy is in place, funds will flow from Indian big companies once they become profitable. There will be financial incentives to private players to be able to operate and they will be able to get finances not only from the country, but from international sources too,” Bhatt said.
The e-commerce industry has suggested that the government should permit foreign direct investment in inventory-based online trade for export purposes. Currently, the country's FDI policy only allows it in firms operating through a marketplace model. The Director General of Foreign Trade (DGF) is working on steps to promote exports through e-commerce, including reexamining the FDI policy and exploring schemes like 'composition levy scheme' for smaller players.