Gujarat is one of India’s most industrialized states with a wide variety of industries, chief amongst them being general and electrical engineering, textile manufacture, vegetable oils, chemicals, soda ash and cement but new industries in fertilizers and petrochemicals are as well emerging.
India’s FDI in January this year fell by 25% margin. Foreign Investments India totaled $2.04 billion, a marked fall from the previous years close. The total cumulative amount of FDI inflows in India were Rs 563,656 million, about US$129,656 million over a decade from 1991 to January 2010. The country attracted FDI inflows of US$1.74 billion as at November 2009. That marked a 60 per cent increase that was achieved in November 2008 which stood at US$1.08 billion. The cumulative amount of FDI inflows tabulated from 1991 to end of December 2009 was US$127.46 billion.
As India’s foremost outsourcing hub, Gurgaon offers lots of investment opportunities. It is home to renowned, major multinational companies. Gurgaon houses Alcatel, British Airways, Ericsson, Hewitt, Coca cola, General Motors, GSK etc. The presence of these multinationals has had tremendous impacts on its economy. As an investment hub, the city offers employment opportunities with the vast major investments that litter its economy. For investors keen on starting an industry or service production, this city makes for a superb location.
The Indian government may ask companies that have less than 50% foreign equity to request approval from Foreign Investment Promotion Board before making any downstream investment. This new proposed regulation policy on foreign investments in India has been agreed on by the major stakeholders in India’s FDI regime. The regulation aims at putting such investments by these companies into areas where Caps on FDI are in place or places in which there are no automatic routes. Such investments would be done through the FIPB.
Investors in India have every reason to be confident with the Indian government. In a plan to encourage more investments, the government plans to set up National Manufacturing and Investments Zones across India. These Zones are meant to offer investors proper infrastructure, a dynamic exit strategy, green and clean technologies support, investment incentives and an environment that encourages business with a friendly approval mechanism. The commerce and industry ministry hopes to be able to achieve greater manufacturing potential that can create jobs.
Andhra Pradesh attracts foreign direct investments in India in the Property, petrochemicals, Automotive, textiles, Aerospace, renewable energy, food processing and the leather sectors. Its employment intensive sectors of the economy aim at ameliorating the imbalances that exist. A policy framework aimed at invigorating the MSME sector in the state is geared towards attracting green energy investments. With readily available resources, prominence in Andhra Pradesh has been laid on small scale industries that generate employment.
Foreign Direct Investment in India is mainly being brought by increased consumer confidence and positive sentiment around the world. India remains the third largest country in terms of direct FDI. The Indian government confirmed today that it won’t review its FDI policies for its banking sector. It had been widely expected to pronounce changes in the Indian banking sector. With this refusal to review its FDI, some entities such as HDFC have had to do with their foreign entity status. These banks had earlier requested a clarification of the issue.
Vestas India and Sustainable Energy Australasia Limited are in discussion to set up wind-power projects in India. At this time Vestas have proposed a 6.6 Megawatt wind farm to be jointly developed in Vandhiya, Gujarat.
Gujarat state has a total power generation capacity of 13565 MW with thermal power accounting for 78% of the generation. Renewable energy sources account for 12% of the State's power capacity. The state government recently unveiled a new policy to enourage further solar and wind energy development.
The Indian sports scene has changed dramatically on the back of the Indian Premier League. Coupled with the trend taking place in the United Kingdom and other countries, it has become somewhat of a status symbol for wealthy individuals to own sporting teams.