RBI to put data on Overseas Direct Investment on web
The report will consist of name of the Indian Company / Party, name of the Joint Venture / Wholly Owned Subsidiary (JV / WOS), name of the country where the investment is made, major activity of the JV / WOS, financial commitment of the parent company in the JV / WOS comprising equity, loan and guarantee issued in USD million. The data in respect of previous period from July 2007 till May 2011 is also being released, a release said.
The initiative has been taken as part of the endeavour of the RBI and the Govt. for wider dissemination of information and bringing about more transparency as the JV/WOS have been perceived as an effective medium of economic co-operation between India and other countries. Such overseas investments catalyze growth in our exports, transfer of technology and skill, sharing of results of R and D, access to wider global market, promotion of brand image, generation of employment and utilization of raw materials available in India and in the host country.
Indian overseas investment policies have been progressively liberalized and simplified to meet the changing needs of a growing economy in a globalized environment. The policy which was evolved as one of the strategies for export promotion and strengthening economic linkages with other countries, has been streamlined significantly in scope and size, especially after the introduction of FEMA in June 2000. In the post 2003 period, the policy has enabled corporate entities and registered partnerships to invest in bonafide businesses abroad, currently to the extent of 400 percent of their net worth, under the automatic route. (UNI -Posted on / )
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