Western India hot destination for corporate investment

September 10th, 2009 NEW DELHI - The Union Cabinet today approved the proposal of the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry for the formation of a company 'Invest India' under Section 25 of the companies Act, 1956, for promotion of foreign investments during the XI Five Year Plan. The proposed company which will be a joint venture between the Government of India, Federation of Indian Chambers of Commerce and Industry and the State Governments will be responsible for promoting Foreign investments into the country in a more focussed, comprehensive and structured manner.

September 10th, 2009 NEW DELHI - The government Thursday gave its approval for constituting a joint venture company, Invest India, to promote the country as an investment destination for foreign companies. The proposed company will be a joint venture between the government of India, Federation of Indian Chambers of Commerce and Industry and the state governments, an official statement said.

September 10th, 2009 NEW DELHI - The Union Cabinet on Thursday approved the formation of a company 'Invest India' for the promotion of foreign investments under the Ministry of Commerce and Industry. Announcing the formation of 'Invest India,' Commerce and Industry Minister Anand Sharma said "The company will be a joint venture between the Government of India, the Federation of Indian Chambers of Commerce and Industry (FICCI) and the State Governments will be responsible for promoting foreign investments into the country in a more focused, comprehensive and structured manner." The new company is expected to assist the government in its efforts towards projecting India as an attractive investment destination for foreign investors.

September 1st, 2009 LONDON - Parts of the agreement spelling out the policy and regulatory framework for foreign investment into India's roads infrastructure will be changed by the end of September to meet investor concerns, Road Transport and Highways Minister Kamal Nath announced here Tuesday. There have been concerns about some aspects of our Model Concession Agreement (MCA).

August 6th, 2009 India investment to grow despite slowdownMUMBAI, India — Capital expenditure will continue to rise in India despite slowing economic growth thanks to pent-up demand and banks picking up the slack from reduced foreign investment, according to a survey of 500 industrial projects. In the next three years, Indian companies will pour 10.5 trillion rupees ($215.25 billion) into industrial expansion, research and ratings agency CRISIL said in the report covering 11 sectors of the economy released Thursday.

July 15th, 2009 NEW DELHI - India along with China will again emerge as the preferred destinations for foreign investors, the research arm of global rating agency Moody's said Wednesday. "Investment opportunities in China and India will soon be in hot demand again.

June 15th, 2009 Foreign direct investment in China falls 17.8 pctBEIJING — Foreign direct investment in China fell in May for the eighth straight month as the global economic crisis battered trade and corporate finance, the Commerce Ministry said Monday. Foreign direct investment in May totaled $6.4 billion, down 17.8 percent from the same month last year, while the number of new approved foreign companies reached 1,649, down 32 percent year-on-year, ministry spokesman Yao Jian said at a news conference.

June 15th, 2009 CHICAGO - India has emerged the most attractive retail destination for investors among 30 emerging markets, says a report by US-based global management consulting firm AT Kearney. According to the company's Global Retail Development Index (GRDI), India tops the list of most attractive retail destination followed by Russia and China.

June 9th, 2009 New Delhi, June 9 IANS) Dubai-based jewellery and watch trading company Damas has secured approval for a single brand retail joint venture in India with an investment of Rs.1.8 billion ($36 million), an official statement said Tuesday. The group's proposal, among the 22 others approved by the Foreign Investment Promotion Board with an investment of Rs.5.6 billion (around $110 million), calls for a joint venture in India with 51 percent equity.

April 26th, 2009 NEW DELHI - The land of pharaohs and pyramids, Egypt, is hard selling itself in India as a destination for leisure as well as meetings, incentives, conventions and exhibitions. The northern African country is cheaper and more attractive than destinations in Europe and Africa, director of Egyptian tourism in India Magdi Selim said.

April 24th, 2009 NEW DELHI - Despite the global slowdown and recession in Europe and the US, India expects at least $40 billion as foreign direct investment (FDI) in the current fiscal, a senior industry ministry official said here Friday. 'The overall outlook for foreign investment is positive.

April 12th, 2009 NEW DELHI - With merely 18 months left for the 2010 Delhi Commonwealth Games, India needs to allow 100 percent foreign investment in tourism infrastructure projects to boost tourism, says an industry lobby. According to the Federation of Indian Chambers of Commerce and Industry (FICCI), 100 percent foreign investment in developing tourism infrastructure in India will give a major boost to this sector.

February 22nd, 2009 KOLKATA - Post Nandigram and Singur fiascos, West Bengal slipped to 13th position in 2008 from fourth in the previous year among India's major investment-centric states, according to a paper brought out by the Associated Chambers of Commerce and Industry of India (Assocham). The paper highlights that the state received robust investment announcements worth Rs.2,434.89 billion in calendar year 2007, which fell to a meagre Rs.900.95 billion last year.

February 14th, 2009 PATNA - Disillusioned at no response from NRIs to investing in Bihar, Chief Minister Nitish Kumar Sunday described the annual Pravasi Bharatiya Diwas as a 'picnic'. 'It is nothing but a picnic.

January 16th, 2009 KOLKATA - The Rs.70 billion (Rs.7,000-crore/$1.43 billion) Satyam Computer Services scam is an 'isolated' case in the corporate sector of India, External Affairs Minister Pranab Mukherjee said here Saturday. 'The Satyam scam has undoubtedly impacted our securities market.