Union Budget proposals unsettle foreign investors

By Sawant Singh and Davis Kanjamala, Phoenix Legal
0
1371
LinkedIn
Facebook
Twitter
Whatsapp
Telegram
Copy link

The 2012-13 Union Budget presented by India’s finance minister, Pranab Mukherjee, was eagerly anticipated by the global investment community as an opportunity for the government to shake off negative perceptions of policy paralysis by outlining a definitive road map signalling its commitment to sustained growth and creation of a conducive investment climate. This column outlines key budget proposals of interest to foreign stakeholders in the Indian economy.

Foreign investment

In his address, the minister stated that the government was seeking to establish a widespread consensus in favour of permitting foreign investment in multi-brand retail up to 51%. Previously, the decision to allow such investment had to be hastily withdrawn in the wake of strident protests following its announcement.

Sawant Singh Partner Phoenix Legal
Sawant Singh
Partner
Phoenix Legal

Foreign investors, which could add significant value to the domestic setup in terms of technology transfer and management policies, have long awaited the chance to participate in India’s retail sector, which is among the fastest growing markets in the world.

You must be a subscribersubscribersubscribersubscriber to read this content, please subscribesubscribesubscribesubscribe today.

For group subscribers, please click here to access.
Interested in group subscription? Please contact us.

你需要登录去解锁本文内容。欢迎注册账号。如果想阅读月刊所有文章,欢迎成为我们的订阅会员成为我们的订阅会员

已有集团订阅,可点击此处继续浏览。
如对集团订阅感兴趣,请联络我们

Sawant Singh is a partner and Davis Kanjamala is an associate at the Mumbai office of Phoenix Legal.

PL

New Delhi

Second Floor,

254, Okhla Industrial Estate,

Phase III, New Delhi-110020

India

Tel +91 11 4983 0000

Fax: +91 11 4983 0099

Email: delhi@phoenixlegal.in

Mumbai

First Floor, CS-242,

Mathuradas Mill Compound,

NM Joshi Marg, Lower Parel

Mumbai – 400 013, India

Tel: +91 22 4340 8500

Fax: +91 22 4340 8501

Email: mumbai@phoenixlegal.in

LinkedIn
Facebook
Twitter
Whatsapp
Telegram
Copy link