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| Jan 01, 1970 | Daily Report |
| RISING BHARAT | News Count (102264) | |
21891. Insurance sector thrown open: FDI hike to 74% sets stage for its takeoff
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
English
India
Indian Express
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- Foreign inflows in insurance companies will also enable them to become more effective vehicles for household savings, creating long-term assets in the economy.
- “I propose to amend the Insurance Act, 1938 to increase the permissible FDI limit from 49% to 74% in Insurance Companies and allow foreign ownership and control with safeguards,” said Nirmala Sitharaman (FM).
- “I propose to amend the Insurance Act, 1938 to increase the permissible FDI limit from 49% to 74% in Insurance Companies and allow foreign ownership and control with safeguards,” said Sitharaman.
21892. FDI easing in defence production to attract investments: DPIIT Secy
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
English
India
Financial Express
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- Various projects are expected to come in the defence production as the government has liberalised foreign direct investment (FDI) norms in the sector
- The FDI limit in the defence manufacturing under automatic route has now been raised from 49 per cent to 74 per cent.
- About promoting the growth of startups, the secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Guruprasad Mohapatra said the department is working on a credit guarantee fund scheme, which would provide comfort to banking and non-banking financial institutions to lend to budding entrepreneurs.
21893. India attracted FDI inflow of $67.54 billion during April-December 2020
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
English
India
Mint
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- FDI equity inflow grew by 40% in the first 9 months of 2020-21 (US$ 51.47 billion) compared to the year ago period ($ 36.77 billion)
- It is the highest ever for the first ninth months of a financial year and 22% higher as compared to the first ninth months of 2019-20 (USD 55.14 billion).
- Measures taken by the Government on the fronts of FDI policy reforms, investment facilitation and ease of doing business have resulted in increased FDI inflows into the country.
21894. India bags highest ever FDI at $67.5 billion in first 9 months of FY21
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
English
India
Business Today
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- During the period between April and December last year, FDI equity inflows jumped by 40 per cent to $51.47 billion compared to $36.77 billion during the year-ago period With this, total FDI flows were 22 per cent higher during April-December 2020 compared to $55.14 billion in the corresponding period last year, as per an official release issued by the Ministry of Commerce and Industry.
- It grew nearly 19 per cent after declining around 3 per cent in the previous two matching periods. FDI inflows have constantly grown since August 2020 on a yearly basis; it recorded a substantial growth of 81 per cent in the month of November.
- Measures taken by the government on the fronts of FDI policy reforms, investment facilitation and ease of doing business have resulted in increased FDI inflows into the country," the ministry said.
21895. [Startup Bharat] Why these 2 college students decided to start a hyperlocal Hindi news app
Innovation and startups, ISRO/Defense/Water infrastructure/EV and other sectors
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Startups in Bharat
English
India
Your Story
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- Udaipur-based media tech startup Namaste Gaon started by Shubham Soni and Pulkit Khatri focuses on providing hyperlocal news from cities, towns, and villages across Rajasthan.
- “We understood that people in every small town depended heavily on newspapers for updates. But newspapers have limited coverage of geographical areas, and it is often difficult for people staying outside the district to stay updated,” Shubham says.
- The hyperlocal Hindi news app provides breaking news in all sectors: politics, crime, sports, business, technology, agriculture, and entertainment.
21896. Cabinet clears amendments to Insurance Act for raising FDI to 74%
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
English
India
Financial Express
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- Currently, the permissible FDI limit in life and general insurance stands at 49% with ownership and management control with Indians.
- The Union Cabinet gave its nod for amendments in the Insurance Act, paving way for 74 per cent foreign direct investment in the sector.
- According to sources, the Cabinet in its meeting has approval for amendments in the Insurance Act, 1938.
21897. Agritech startup INI Farms enters D2C commerce after disrupting fruit supply chain and exports
Innovation and startups, ISRO/Defense/Water infrastructure/EV and other sectors
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Startups in Bharat
English
India
Your Story
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- Co-founders and husband-wife duo Pankaj and Purnima Khandelwal started INI Farms which owns and controls the entire supply chain for non-seasonal fruits from ‘farm to table’— from sourcing (directly from farmers) to sorting and grading to packaging, branding, and exporting to 35 international markets.
- Its sub-brand Kimaye-branded fruits are also available off the shelf at supermarkets like FoodHall, Star Bazaar, BigBazaar, More, and on BigBasket.
- The startup works with over 5,000 farmers across eight states, and is one of the top three exporters of bananas and pomegranates from India. Over 80 percent of INI Farms’ sales happen in international markets.
21898. [The Turning Point] Why two friends decided to start a milk revolution in non-metro towns with dairy startup Puresh Daily
Innovation and startups, ISRO/Defense/Water infrastructure/EV and other sectors
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Startups in Bharat
English
India
Your Story
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- 1) Manish Piyush, an IIM graduate, who had worked in 14 countries was visiting his hometown Ranchi when he realised the problem: the lack of focus on non-metro towns, especially in his state, Jharkhand.
- 2) Manish joined hands with his childhood friend, Aditya Kumar, to start milk subscription app Puresh Daily Foods in 2019.
- 3) To ensure nutritious milk, Puresh Daily grows its own vegetables and herbs on its farm to feed its cows. At present, Puresh has about 80-100 cows, and a team of 40 people.
21899. 44 companies given FDI approvals for joint production of defence items with foreign companies: Naik
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
English
India
Outlook
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- A total of 44 Indian companies, including public sector units, have got approvals related to foreign direct investment (FDI) till now for joint production of defence items with foreign companies, said Minister of State for Defence Shripad Naik on Monday. "So far, FDI inflows of about Rs 4191 crore have been reported by the companies operating in defence and aerospace sector in the country," Naik said in a written reply to a question in Rajya Sabha.
- As on date, FDI approvals have been given to 44 companies -- including DPSUs -- for joint ventures or co-production of various defence items, he stated.
- These items include fixed-wing aircrafts, aerospace and aero structures components, simulator, unmanned aerial systems, optical goods and optical instruments, radar systems, mortars and tactically protected vehicles, he added. On September 17 last year, the government had permitted FDI in defence production up to 74 per cent under automatic route.
21900. Bootstrapped with Rs 80K, Bengaluru-based WedMeBae plans weddings of all sizes and budgets
Innovation and startups, ISRO/Defense/Water infrastructure/EV and other sectors
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Startups in Bharat
English
India
Your Story
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- Founded in 2017, WedMeBae expanded its geographical presence by starting a new office in Lucknow last year.
- Adarsh Shukla, Founder of Bengaluru-based WedMeBae says “ WedmeBae differentiates itself as being the wedding planner irrespective of the scale and size the clients demand.”
- Bengaluru-based WedMeBae has organised over 30 weddings in only three years and soon plans to expand to other geographies.