Government has taken a series of measures to attract more foreign direct investments in the country. Replying supplementaries in the Rajya Sabha on Wednesday, the Commerce Minister Mr. Anand Sharma said that his ministry is examining how the operationalization of the existing guidelines can be made more effective. He made it clear that government and the corporate sector has launched a company Invest India to facilitate those companies to invest who have not their offices in this country. Mr. Sharma said for a down stream investment, the investing company has to be both owned and controlled by Resident Indians. Giving details of the measures taken by the government he said the companies having 51 per cent share holding by Indians are being considered as Indian companies. A group of ministers recently made a recommendation to this effect which was approved by the cabinet.
News On AIR | August 4, 2010 1:13 PM
Govt takes series of measures to attract more FDI