Tuesday, August 23, 2016
Some Encouraging Points Concerning the NDA government
(i) Foreign direct investment during October 2014 and May this year grew 46 per cent to USD 61.58 billion after the launch of Make in India programme. To further boost investment environment and bring in foreign capital, the NDA government is taking various measures like opening up FDI in many sectors, carrying out FDI related reforms and improving ease of doing business.
(ii) Sectors that attracted maximum FDI include services, trading, automobile and power.
(iii) The NDA government has approved as many as 259 proposals for setting up of special economic zones relating to IT/ITeS and electronic hardware sector in many parts of the country. During the last four years and the current financial year (up to July 15), the Board of Approval, under the ministry, gave more time to as many as 139 developers of SEZs, including the IT/ITeS sector, to complete their projects.
(iv) Some of the biggest global investors such as Morgan Stanley, Macquarie and Ivanhoe Cambridge (an arm of Canada's CDPQ) are re-entering Indian real estate after a long gap. These three investors are looking to forge joint ventures worth Rs.4,000 crore. These investors, along with others such as Goldman Sachs, Citigroup, Merrill Lynch, Credit Suisse, Lehman Brothers and Deutsche Bank, had either exited Indian real estate or became dormant after the global financial crisis of 2008, as they sought to clean their balance sheets and concentrate on home markets.