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    Financial Intelligence Unit India (FIU IND) issues compliance Show Cause Notices to nine offshore Virtual Digital Assets Service Providers (VDA SPs)
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    Indo-Pacific Economic Framework for Prosperity (IPEF) Supply Chain Agreement signed by the 14 IPEF Partners
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December 29, 2023
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Virtual digital asset service provider compliance enforced; show-cause notices issued and URLs sought to be blocked for non-registration.
FIU IND has issued compliance Show Cause Notices to nine offshore Virtual Digital Asset Service Providers and asked the Ministry of Electronics and Information Technology to block their URLs for operating without registering as Reporting Entities under the Prevention of Money Laundering Act. VDA service providers performing exchanges, transfers, custody or enabling control over virtual assets are subject to activity-based registration with FIU IND and must comply with PMLA reporting, recordkeeping and other obligations regardless of physical presence in India.
December 18, 2023
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Official statistics leadership secured, enabling standard-setting and faster, quality-assured data publication through technological reforms.
MoSPI emphasizes strengthening official statistics through international engagement and technical standard-setting, adopting CAPI and cloud-based validation to improve data quality and reduce publication time lags, introducing website data visualization and user consultations, and implementing revised guidelines and a digital portal for MPLADS fund-flow and lifecycle monitoring, while publishing environmental, gender, and SDG indicator frameworks.
November 17, 2023
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Supply Chain Agreement signed, enabling coordinated regional cooperation on clean technologies and strengthened anti-corruption measures.
14 IPEF partners substantially concluded negotiations under the Clean Economy and Fair Economy pillars and signed the IPEF Supply Chain Agreement, creating cooperative frameworks and institutional arrangements to advance implementation. The Clean Economy pillar focuses on R&D, commercialization and deployment of climate-friendly technologies and investment facilitation, including hydrogen supply chain work and proposals on biofuels and e-waste recycling. The Fair Economy pillar targets stronger anti-corruption and tax measures, emphasising information sharing, asset recovery, and enhanced cross-border investigations and prosecutions.
October 16, 2023
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Institutionalizing swachhata through an administrative campaign to liquidate pendencies and improve record management across units.
Departmental Special Campaign 3.0 mobilizes a Preparatory Phase of target identification and awareness activities, and an Implementation Phase directing participating units to liquidate pendencies in public grievances, appeals, parliamentary and state references, inter ministerial and executive references, and rules/procedures, while conducting physical file review and weeding to institutionalize cleanliness and record management.
September 5, 2023
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Cross-border payments innovation: tech solutions and CBDC architectures to make international transfers faster, cheaper and more inclusive.
The address frames the G20 TechSprint 2023 as a collaborative initiative to develop technology solutions for cross-border payments, focusing on three problem streams: AML/CFT and sanctions-screening technologies to reduce illicit finance risk; forex and liquidity mechanisms to enable settlement in more EMDE currencies; and multilateral cross-border CBDC platform architectures to promote interoperability, lower costs and increase efficiency. It links these priorities to India's fintech ecosystem, institutional innovations (FinTech Department, RBI Innovation Hub, Regulatory Sandbox) and a pilot Public Tech Platform for Frictionless Credit aimed at reducing integration frictions in credit delivery.
August 7, 2023
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PM GatiShakti approach institutionalizes whole-of-government infrastructure planning and training using GIS-enabled master planning across public institutes.
Institutionalize training on the PM GatiShakti National Master Plan by integrating its GIS-enabled planning principles and tools into CTI and ATI curricula to support a whole of government approach for multimodal infrastructure planning, digital surveys, and area development; demonstrated benefits include accelerated surveys, optimized alignments, cost and time savings, and enhanced planning for social-sector and connectivity projects.
July 19, 2023
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International financial cooperation advances MDB reform, sovereign debt coordination, DPI led financial inclusion, and crypto regulatory roadmaps.
The meeting advanced international economic cooperation focusing on climate related macroeconomic risks, MDB reform including a roadmap for capital adequacy to unlock lending, coordinated approaches to sovereign debt vulnerabilities, endorsement of policy recommendations and a three year Financial Inclusion Action Plan leveraging Digital Public Infrastructure, and progression of a crypto asset regulatory Roadmap accommodating EMDE risks and FATF implementation, with these deliverables consolidated in an Outcome Document and Chair's Summary to inform G20 Leaders.
June 12, 2023
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Productivity growth: reversing the secular slowdown needs technology adoption, sustained investment, skills and supportive policy reforms.
A multi pronged policy response is needed to reignite productivity growth: deepen technological capital through ICT infrastructure and digital adoption; expand long term investment in R&D and innovation ecosystems; raise skills via education and retraining; improve physical infrastructure and business enabling reforms to reduce trade and regulatory costs; and broaden access to finance for SMEs. Central banks should incorporate productivity analysis into macroeconomic and financial stability assessments to inform calibrated policy aimed at sustaining non inflationary growth.
June 6, 2023
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Cybersecurity in financial systems: international cooperation and common standards to strengthen resilience and incident response across banks.
Cyber risk to the banking and financial system arises from increased digitalisation and interconnections that can disrupt operations and undermine trust; traditional capital and liquidity measures may not mitigate such effects. The Reserve Bank emphasizes non-disruptive innovation with customer protection through mandates like two-factor authentication, tokenisation, continuous settlement availability, supervisory cyber exercises, and institution-building. Internationally, six strategies-mapping interdependencies, a minimum common cybersecurity framework, information sharing, coordinated incident response, enforcement to deter perpetrators, and capacity building-are proposed to strengthen systemic cyber resilience and support secure digital financial inclusion.
March 25, 2023
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Foreign direct investment liberalization: NSWS portal streamlines government approvals and delegates processing to ministries.
All proposals requiring government approval under the foreign direct investment framework must be filed on the National Single Window System (NSWS) portal; DPIIT facilitates the process while concerned ministries and departments process applications under a detailed standard operating procedure, following abolition of the former centralized approval board.
February 8, 2023
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Industrial corridor project sanctions lead to SPV funding, land allotment, and advanced infrastructure development across multiple nodes.
Government sanctioned eight projects under NICDIT, allocated equity and debt funds to project SPVs, completed major trunk infrastructure and land allotment in four greenfield industrial regions, and advanced planning, environmental clearance, land transfers, and infrastructure works for four additional nodes across DMIC and CBIC corridors.
February 8, 2023
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Integrated infrastructure planning through PM GatiShakti NMP promotes GIS-driven, cross-ministry coordination and prioritized project selection for efficiency.
PM GatiShakti NMP establishes an integrated cross-ministry framework with a GIS-enabled platform and a three-tier institutional mechanism - Empowered Group of Secretaries, Network Planning Group, and Technical Support Unit - to enable synchronized, data-driven infrastructure planning, identify critical gaps, and prioritise projects that reduce logistics costs and improve cost and time efficiencies.
February 7, 2023
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Money laundering risks in digital lending curtailed by PMLA investigations and RBI delisting plus KYC and disbursal safeguards.
ED is investigating money laundering under the PMLA where proceeds from illegal loan apps have been identified and assets attached or seized; seizures under FEMA section 37A have also been effected. RBI provided a list of authorised Digital Lending Apps to MeitY for delisting unauthorised apps from app stores. Preventive measures include RBI master circulars on KYC/AML/CFT and the digital lending guidelines requiring due diligence of Loan Service Providers, direct lender-to-borrower disbursals without pooling, and publication of DLA and LSP lists to reduce anonymity.
February 6, 2023
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International collaboration is essential to regulate borderless crypto assets and prevent regulatory arbitrage through AML and KYC enforcement.
Crypto assets are borderless and require international collaboration for effective regulation, common taxonomy and standards. Domestic enforcement has pursued crypto related money laundering and foreign exchange violations: investigations under the Prevention of Money Laundering framework have led to asset restraints, arrests and prosecutions, while foreign exchange actions include asset seizures and show cause proceedings; the central bank has warned users and directed regulated entities to apply KYC, AML and CFT controls and comply with foreign exchange obligations for virtual currency transactions.

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PMLA, Black Money & ED

National Single Window System (NSWS) Portal used for all proposals seeking Govt. approval under FDI route

March 25, 2023

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To promote foreign investment, the Government has put in place an investor  friendly policy, wherein most sectors, except certain strategically important sectors, are open for 100% FDI under the automatic route, the Minister of State in the Ministry of Commerce and Industry, Shri Som Parkash said in reply to a parliamentary question. Further, the policy on FDI is reviewed on an ongoing basis, to ensure that India remains an attractive and investor friendly destination. To simplify the approval process of foreign Investment and to promote ease of doing business, the erstwhile Foreign Investment Promotion Board (FIPB) has been abolished in May 2017 and a new regime  has been put in place. Under the new regime, process for granting FDI approvals   has been simplified wherein the work relating to processing of applications for FDI has been delegated to the concerned Ministries/ Departments and DPIIT is the nodal department  for facilitating the process. Detailed standard operating  procedure for approval process has been issued by DPIIT. Further, all proposals seeking Government approval under FDI route are now filed on National Single   Window System (NSWS) Portal.

FDI policy provisions have been progressively liberalized and simplified across various sectors in the last eight years, such as Pension, Other Financial Services, Asset reconstruction Companies, Broadcasting, Pharmaceuticals, Single Brand Retail Trading, Construction & Development, Power Exchanges, e- commerce activities, Coal Mining, Contract  Manufacturing, Civil Aviation etc. In the recent past, reforms in the FDI Policy have been undertaken in sectors such as Defence, Insurance, Petroleum & Natural Gas and Telecom. FDI in defence sector is now allowed up to 74% (from earlier 49%) through automatic route for companies seeking new industrial license. In insurance sector, FDI limit has been raised from 49% to 74% for insurance companies under the automatic route and foreign ownership and control has been allowed with safeguards. FDI up to 20% in Life Insurance Corporation of India (LIC) has been permitted under automatic   route. Further, FDI up to 100% under the automatic route has been permitted in Telecom sector. Details of Sectors wherein in FDI has increased in past 8 years, as compared to preceding 8 years is placed below:

Details of Sectors wherein in FDI has increased in past 8 years, as compared  to preceding 8 years, in descending order of FDI Equity Inflow from April 2014 to March 2022 (excluding reinvested earnings, other capital and equity in incorporated bodies)

SECTOR-WISE COMPARISON of Amount of FDI  Equity Inflow (In USD Million) (Approx.)

 

Sl. No

 

Sector

April 2006 to  March 2014

April 2014 to  March 2022

Growth %

(1)

(2)

(3)

(4)

(5)

1

COMPUTER SOFTWARE & HARDWARE

9,599

72,700

657

 

2

SERVICES SECTOR

(Fin., Banking, Insurance, Non Fin/Business, Outsourcing, R&D, Courier, Tech. Testing and Analysis, Other)

 

37,628

 

54,689

 

45

3

TRADING

5,132

29,440

474

4

CONSTRUCTION (INFRASTRUCTURE)

ACTIVITIES

2,575

25,407

887

5

TELECOMMUNICATIONS

12,098

24,168

100

6

AUTOMOBILE INDUSTRY

8,580

23,030

168

7

CHEMICALS (OTHER THAN FERTILIZERS)

8,864

9,785

10

8

HOTEL & TOURISM

6,880

9,269

35

9

METALLURGICAL INDUSTRIES

7,644

8,940

17

10

NON-CONVENTIONAL ENERGY

2,997

8,618

188

11

ELECTRICAL EQUIPMENTS

2,927

7,369

152

12

EDUCATION

941

6,777

620

13

INFORMATION & BROADCASTING

(INCLUDING PRINT MEDIA)

3,511

5,962

70

14

HOSPITAL & DIAGNOSTIC CENTRES

2,163

5,644

161

15

CONSULTANCY SERVICES

1,939

5,524

185

16

RETAIL TRADING

107

3,856

3515

17

SEA TRANSPORT

1,051

3,715

254

18

INDUSTRIAL MACHINERY

2,668

3,413

28

19

AIR TRANSPORT (INCLUDING AIR

FREIGHT)

476

3,050

541

20

CEMENT AND GYPSUM PRODUCTS

2,190

2,612

19

21

TEXTILES (INCLUDING DYED,PRINTED)

1,217

2,583

112

22

ELECTRONICS

803

2,267

182

23

MINING

952

2,252

136

24

FERMENTATION INDUSTRIES

1,604

1,995

24

25

RUBBER GOODS

1,360

1,838

35

26

PRINTING OF BOOKS (INCLUDING LITHO

PRINTING INDUSTRY)

370

1,799

386

27

MEDICAL AND SURGICAL APPLIANCES

700

1,629

133

28

SOAPS, COSMETICS & TOILET

PREPARATIONS

653

1,506

131

29

PRIME MOVER (OTHER THAN ELECTRICAL

GENERATORS)

1,058

1,471

39

30

GLASS

331

859

160

31

DIAMOND,GOLD ORNAMENTS

387

780

102

32

RAILWAY RELATED COMPONENTS

470

721

53

33

AGRICULTURAL MACHINERY

187

641

243

34

VEGETABLE OILS AND VANASPATI

383

623

63

35

FERTILIZERS

263

394

50

36

BOILERS AND STEAM GENERATING

PLANTS

61

314

411

37

EARTH-MOVING MACHINERY

145

313

117

38

SUGAR

45

184

310

39

SCIENTIFIC INSTRUMENTS

129

164

28

40

GLUE AND GELATIN

9

138

1374

41

TIMBER PRODUCTS

85

129

52

42

LEATHER, LEATHER GOODS AND PICKERS

95

109

15

43

DYE-STUFFS

17

83

398

44

DEFENCE INDUSTRIES

5

8

55

 Details of top 10 sectors that comprise more than 75% of FDI Equity inflow (excluding reinvested earnings, other capital and equity in incorporated bodies) received in the country during the last three financial years (from April 2019 to March 2022) are as under:

STATEMENT ON TOP SECTOR-WISE FDI EQUITY INFLOW FROM April 2019 TO March 2022

 

Sr. No.

 

Sector

Amount of FDI

Equity Inflow

(In USD Million)

%age of Total

FDI Equity Inflow

(1)

(2)

  (3)

  (4)

1

COMPUTER SOFTWARE

& HARDWARE

48,279

29

 

 

2

SERVICES SECTOR (Fin.,

Banking, Insurance, Non Fin/Business, Outsourcing, R&D, Courier, Tech. Testing and Analysis, Other)

 

 

20,045

 

 

12

3

CONSTRUCTION

(INFRASTRUCTURE) ACTIVITIES

13,164

8

4

TRADING

11,720

7

5

AUTOMOBILE INDUSTRY

11,455

7

6

METALLURGICAL INDUSTRIES

5,713

3

7

TELECOMMUNICATIONS

5,505

3

8

EDUCATION

5,245

3

9

HOTEL & TOURISM

4,036

2

10

NON-CONVENTIONAL ENERGY

3,792

2

 

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