I&B Ministry
Climate favourable for FDI, Flag, Crest, You & Netmagic in queue
MUMBAI: The business climate seems to be favourable for more and better inflow of foreign direct investments into India. As the government took steps to improve ease of doing business and relax regulations, foreign direct investment into India grew by 60 per cent to US$ 4.68 billion in November 2016 as compared to US$ 2.93 billion the previous November.
Star Den Media Services and Idea Cellular are among six proposals recently cleared by the government for receiving foreign direct investment (FDI) of around Rs 1,200 crore.
Among the proposals that have been deferred for further discussions are — Flag Telecom Singapore Pte Limited, Crest Premedia Solutions Pvt. Ltd, You Broadband India Limited and Netmagic Solutions Pvt. Ltd. Flag Telecom is an indirect wholly-owned subsidiary of Reliance Communications (RCom).
A proposal by M/s Crest Premedia Solutions Pvt. Ltd seeking approval for issuance of equity shares to the non-resident shareholders of M/s Springer SBM Holding Ltd., a Mauritius Company under a Scheme of Amalgamation was also deferred.
M/s You Broadband India Limited had sought post facto approval for acquisition of 9,79,875 equity shares of its downstream company M/s Digital Outsourcing Private Limited (DOPL) in lieu of issue of 20,58,759 equity shares to its resident shareholders by way of swap of shares but this was deferred.
A proposal by Netmagic Solutions Pvt. Ltd for the increase in the shareholding of NTT Communications Corporation, Japan in the company from 81.63 per cent to 100 per cent was deferred.
Cumulatively, India attracted US$ 32.49 billion foreign inflows in April-November period of the current fiscal as against US$ 24.81 billion in the same period previous year.
The main sectors which have attracted foreign inflows during the eight months period of 2016-17 include telecom (US$ 5.47 billion) and information & broadcasting (US$ 1.06 billion).
Foreign investments are considered crucial for India, which needs around US$ 1 trillion for overhauling its infrastructure sector such as ports, airports and highways to boost growth.
Also Read:
Idea, Star Den among Rs-1200 cr FDI proposals approved; latter to switch to investing biz
I&B Ministry
Government sets up AI governance group to steer policy
AIGEG to align ministries, assess jobs impact, guide AI deployment.
MUMBAI: If artificial intelligence is the engine, the government is now building the dashboard and making sure everyone reads from the same screen. The Centre has constituted a new inter-ministerial body to coordinate India’s approach to AI, formalising a key recommendation from its governance framework and the Economic Survey. The AI Governance and Economic Group (AIGEG), set up by the Ministry of Electronics and Information Technology, will act as the central platform to align AI-related policy across ministries, regulators and departments, an attempt to bring coherence to what has so far been a fragmented and fast-evolving landscape.
The group will be chaired by union minister Ashwini Vaishnaw, with minister of state Jitin Prasada as vice chairperson. Its composition reflects both technological and economic priorities, bringing together the principal scientific adviser, the chief economic adviser, and the CEO of NITI Aayog, alongside key secretaries from telecommunications, economic affairs and science and technology. A representative from the National Security Council Secretariat is also part of the group, while the MeitY secretary will serve as member convenor.
At its core, AIGEG is designed to do two things: coordinate and anticipate. On the policy front, it will review existing regulatory mechanisms, issue guidance across sectors and ensure companies remain compliant with evolving legal frameworks. Beyond that, it will oversee national initiatives on AI governance, with a focus on enabling responsible innovation rather than merely regulating it.
The economic dimension is equally central. The group has been tasked with assessing how AI-driven automation could reshape jobs identifying which roles are most at risk, where those impacts may be geographically concentrated, and whether technology will augment or replace human labour. Based on these assessments, it will develop mitigation strategies and transition plans, signalling a more proactive stance on workforce disruption.
In parallel, AIGEG will work with industry stakeholders to chart a long-term roadmap for AI adoption, categorising use cases into “deploy”, “pilot” or “defer” buckets depending on readiness factors such as data availability, skill levels and regulatory clarity. The aim is to move from broad ambition to structured execution deciding not just what can be built, but what should be built now.
The group will function as the apex layer in India’s AI governance architecture, supported by a Technology and Policy Expert Committee that will track global developments, emerging risks and regulatory priorities. Together, the two bodies are expected to shape both the pace and direction of AI adoption in the country.
In a landscape where technology often outruns policy, the creation of AIGEG signals an attempt to close that gap ensuring that India’s AI journey is not just rapid, but also coordinated, accountable and economically grounded.
