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Signed by Maharashtra Industrial Development Corporation, MoUs come with proposed investment of nearly Rs. 15,260 crore and potential to generate direct employment for 10,851 people.
Union minister Ashwini Vaishnav said 9 structural reforms were approved in the sector, adding these measures are expected to ease the cash flow issues being faced by some people.
The company said Yahoo account, mail and search will continue to operate. The new laws limit foreign investment in digital media companies to 26%.
The Modi-led central government is looking at the LIC IPO, slated to be India’s largest ever, to help narrow its budget gap to 6.8% of GDP in the year through March 2022.
Restrictions on banking led to limited capacity for new entrepreneurs to have access to resources. It allowed the old elite to continue dominating. This order must be shaken up now.
Average yearly FDI inflows were at $63 bn during Modi govt tenure beginning 2014, compared to average annual inflow of $30 bn during 10 yrs of UPA.
The increase in FDI to 27% from $51 billion in 2019 was pushed up by acquisitions in the information and communication technology industry due to the pandemic, the UN report said.
In terms of top investor countries, Singapore is at the top with 29 per cent share. It was followed by the US with 23 per cent and Mauritius with 9 per cent during the last fiscal.
Ministry of Commerce and Industry says policy reforms, investment facilitation and ease of doing business resulted in the jump in FDI inflows.
Rajya Sabha Thursday cleared bill that allows more foreign investment flowing into India. Find out how this could change the industry, what are the safeguards for policy holders & more.