Foreign Direct Investment
The FDI limit in the insurance sector, the minister said, has increased significantly after the government decided to raise the cap from 26 per cent to 49 per cent in 2015.
It helps in the systematic classification of goods across the globe.
In the first paperless Union Budget, Finance Minister Nirmala Sitharaman also said investor charter would be introduced as a right of all financial investors across all financial products.
The decline in FDI inflows was concentrated in developed countries, where fund flows fell by 69 per cent to an estimated USD 229 billion.
Addressing the inaugural session of CII's Partnership Summit 2020, through virtual means, Minister of Railways, Commerce & Industry, Consumer Affairs and Food & Public Distribution Goyal invited foreign investors to be a part of India's growth story.
Singapore with USD 8.30 billion foreign inflows continued to be the top source of FDI for India in April-September 2020-21.
Sensex was trading 264.26 points higher at 39,838.83 and the broader NSE Nifty rose 69 points to 11,731.40.
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Singapore emerged as the largest source of FDI in India during the last fiscal with USD 14.67 billion investments.
India has received nearly Rs 30,000 crore worth of FDI in the private sector insurance firms since 2015, when the government increased FDI limit from 26 percent to 49 percent.
"In the process, the government is giving fixed timelines for indigenous production of specific weapons and platforms. It will make sure that there is accountability."
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"So there is a steady growth and therefore negative growth, which it showed in September and October, has been corrected and we are on a positive growth trajectory."
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