Commerce and Industry Minister Nirmala Sitharaman informed the Parliament that since the Make In India program was launched, Foreign Direct Investment grew 46%, from $42.3billion to $61.8 billion, between October 2014 and May 2016. She added that the government is taking various measures and FDI related reforms to improve the ease of doing business.
Sign Up for Our Newsletters
Get notified of latest industry interviews and insights!
You May Also Like
Quarth, which runs the mobile payments app X-Pay has been acquired by taxi hailing app Ola on Monday. X-Pay, a mobile payments app which is run by Quarth, is second investment for Ola after the company had picked up a minority stake in ZipCash Card Services Pvt. Ltd, a company which obtained a wallet licence from the RBI last year.
News of the deal comes soon after the Union Cabinet allowed sharing of airwaves between telcos. The deal will give Reliance Jio access to continuous airwaves in the 800 MHz spectrum in 10 circles. The move is key to building a high-quality 4G network which Jio will launch at the end of the year. Jio is stitching together 2300 MHz and 800 MHz bands to build a better network.