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A decision on the contentious issue of allowing foreign direct investment (FDI) in multi-brand retail is likely to be taken before the Monsoon session of Parliament, sources said. However, there will be tough riders on the global retail chains for launching their operations. These would include hand-holding the small kirana shop-keepers who fear they could be wiped out by the giant retailers.
New Delhi: Investors seeking government approval for Foreign Direct Investment (FDI) will now have to obtain electronically generated unique number from the concerned authorities before filing requests with the Foreign Investment Promotion Board. The government’s move is expected to streamline as well as expedite the process of clearing FDI proposals in key sectors such as telecom, defence, direct-to-home and commodity exchange.
UNITED BIOTECH PVT. LTD. Versus ORCHID CHEMICALS AND PHARMACEUTICALS LTD. AND ORS (Delhi HC) – The Petitioner UBPL states that it is, inter alia, engaged in the manufacturing and selling of pharmaceutical preparations including injections bearing the trade mark FORZID. UBPL claims that since 2002 it took steps to launch CEFTAZIDIME injections in the market under the trade mark FORZID. It entered into a licence agreement with M/s. Oscar Remedies Pvt. Ltd. („ORPL‟), Haryana for manufacturing FORZID injections. UBPL made an application for registration of the said trade mark under No. 1144258 dated 18th October 2002 in Class 5. The said mark was advertised in Journal Mega dated 25th November 2003. The registration was granted unopposed. The sales figures of UBPL‟s products under the trade mark FORZID for the years 2002-03 till 2006-07 have been set out in the writ petition.
Asking India to liberalise its foreign investment policies, particularly in the financial services sector, the US today said further opening these areas can add about 1.5% to the country’s economic growth.
Amid a debate within the government on allowing foreign direct investment in multi- brand retail, the nodal Consumer Affairs Ministry is insisting on a FDI cap of 49% in the sensitive sector, sources said.
As part of its inclusive approach to the formulation of various policies, this Department has been engaging in prior public consultations on important issues on which policy reform is contemplated. These structured discussions are triggered by the publication of Discussion Papers (DPs) outlining such issues. The Department has, so far, published eight discussion papers, of which five have a direct nexus with FDI policy. Of these five, policy action has been completed in respect of three DPs and is ongoing in respect of two DPs.
IRDA had earlier required that portability of health insurance policies across non-life insurance companies including stand alone health insurance companies would be introduced with effect from 1st July, 2011. The modalities of such portability to be effective and consumer friendly have been discussed with the non-life insurers in the country.
Need to Explore Innovative Approaches to Sustain High Growth With Stability; Challenge is to Harness this Growth to Make the Development Process More Inclusive, Strengthen Food Security, Improve Education Opportunities and Health Facilities Both in Rural and Urban Areas ;Discussions Underway to Build Consensus on Further Liberalisation of the FDI Policy in Retail and Defence Sector: FM
Montage Enterprises Pvt. Ltd versus Employees Provident Fund – 1. Conveyance allowance is included in the definition of basic wages because it is universally, necessarily and ordinarily paid to all across the board. 2. Special allowance is included in the basic wages since it is paid to all the workers and there are no specific criteria to determine the amount of special allowance.
Retirement fund body EPFO will appoint the multiple fund managers to manage its huge corpus of Rs 3.5 lakh crore by July 31, a month ahead of its latest deadline. Employees’ Provident Fund Organisation (EPFO) will be able to wind up the process of appointment of fund managers by July 31, a Labour Ministry official said.
