Since independence, India has consistently followed the path of economic reform, while emphasizing the rapid modernization of all sectors of the economy. An important role in solving this problem was assigned to foreign investment based on the study of the experience of foreign countries in this area, on the basis of which measures were developed and taken to create a favorable investment climate. A number of Indian scientists and diplomats, such as J. N. Dixit [Dixit, 2005], Kishan Rana [Rana, 2000, 2002, 2005], Harish Kapoor [Karth, 2004], and others, have studied the role of economic policy in implementing reforms in the country, but they have not sufficiently addressed the problem of attracting foreign investment. This article attempts to analyze some aspects of India's investment policy at the present stage.

SOME ASPECTS AND PRIORITIES OF THE FOREIGN INVESTMENT ATTRACTION POLICY

An important step towards modernizing the economy in the first years of independence was the adoption of an industrial policy by the Government of India [The Industries Development.., 1951], which was constantly modified in 1956, 1973, 1976, and 1980. and served as a base and starting point for the development of investment policy. Successive Indian Governments have consistently expanded and deepened this process, focusing on the modernization of economic sectors and the liberalization of foreign investment, the development of priority areas for attracting foreign investment, and the development of a legislative and institutional framework for investment policy.

It is noteworthy that during this period, quite often the modernization of the Indian economy was meant as a policy of industrialization. In many documents that deal with industrial policy, we also find sections on reforms in other sectors [Sengupta Arjun.., 1992, p. 120-121].

The program of new economic reforms, initiated in India in 1991 by the adoption of a new industrial policy [Statement.., 24.07.1991], allowed us to develop fundamental priorities for the modernization of economic sectors and directions for foreign investment. This policy has made great progress in creating a favorable climate for foreign investment and, in turn, in promoting reforms. The laws and regulations passed in India have always made it easier to implement investment policies. In this regard, already in 1998, the then Prime Minister of India, I. K. Gujral, emphasized: "The Government of India offers to attract about $ 10 billion. foreign direct investment next year" [Gujral, 1998, p. 67]. For these purposes, "a new Council for Promoting Foreign Investment was created and the Committee for Attracting Foreign Investment was re-established."

page 79

In the middle of 2000, another liberalization of conditions for foreign investment was carried out, which was subsequently improved annually [Manual on.., 2003]. This measure primarily affected multinational companies in 22 industries [Destination India, 2004], in particular in the automotive, consumer electronics, food, leather and tobacco industries. By allowing multinational companies to freely repatriate their dividends, the Government hoped to attract foreign capital to these industries. Previously, the above-mentioned companies were allowed to do this only in cases where they could prove that they receive currency from export operations.

The United Progressive Alliance of India (UGA), which came to power in 2004, has also defined long-term and strategic goals of economic reforms, including directions for attracting investment, in its Common Program [National Common Minimum Program.., 2004]. Sonia Gandhi, the leader of the OPA, also assured about this in an interview, emphasizing that "the policy of economic reforms will have a priority" [The Policy of.., 2004, p. 6]. At the same time, the OPA Government attached great importance to improving liberalization and creating a modernized regulatory framework [Investing in India, Secretarial.., 2005] in the field of foreign investment.

After launching the implementation of the OPA's economic policy, Indian Prime Minister Manmohan Singh said in an interview: "We need investments of approximately $ 150 billion in the next 7 to 8 years to implement our ambitious plans and provide the country with such infrastructure that would meet the economic and social challenges that we face." [India's economic.., 2005]. Based on the overall GPA Program, the Government developed a new modified set of procedures and rules for attracting foreign direct investment (FDI) [Investing in India, Foreign.., 2005], which greatly facilitated the practical implementation of investment attraction policies. Under these rules, foreign investment in India is allowed in almost every sector except those of strategic importance.

Many industries that were previously owned by the public sector were now mostly open to foreign investment. Currently, most enterprises are exempt from obtaining a production license; they only need to register in the List of Industrial Entrepreneurs (IEM - Industrial Entrepreneur Memoranda) [Industrial Entrepreneur..] in the Secretariat for Industrial Assistance (SIA - Secretariat of Industrial Assistance) Department of Industrial Policy of the Ministry of Trade and Industry.

The Government of India also prioritizes infrastructure development: "foreign direct investment in infrastructure should be another special priority "[Indian Foreign Policy, 1997', p. 228]. This area is currently given special attention in the Indian legislation [Investment Opportunities in Infrastructure Sectors, 2005], which allows special measures to stimulate the inflow of foreign investment.

A significant boost to the policy in this area was provided by the improvement of tax and customs legislation in relation to foreign investment, which was constantly modified in the direction of liberalization, but taking into account the protection of the country's economic interests. Thus, in 2003, serious amendments were adopted to the tax legislation [The Taxation Laws.., 8.08.2003], which significantly improved the previous regulatory documents [The Income-tax Act, 1961] in matters of both direct and indirect taxes. Changes were also made to the customs legislation, which is currently based on the regulatory framework of the Russian Federation.-

page 80

in other documents and acts in the field of customs, excise, trade and other taxes and duties, the total number of which exceeds 150. Thus, only customs fees and duties are based on the Customs Tariff Act [Customs Tariff Act, 1975], Customs Act [Customs Act, 1962] and other related acts (more than 10), as well as on the basis of customs rules (more than 20) and customs procedures (more than 30).

The mentioned measures to improve the legal framework for foreign investment significantly contributed to the productive work of Indian diplomacy headed by the Ministry of Foreign Affairs [Investment and Trade Promotion..], and both abroad through diplomatic missions, and within the country with embassies of foreign states. The Ministry of Foreign Affairs of India also actively coordinated its actions in implementing the foreign investment policy with other ministries and departments, as well as actively involved the chambers of commerce and Industry in this work.

An important aspect of the Ministry of Foreign Affairs ' current economic policy is the creation of conditions for the dissemination of information about the investment climate in India: This includes preparing relevant presentations, organizing symposia, seminars and conferences on investment promotion, assisting in obtaining the necessary permits, and resolving emerging problems with the involvement of various government agencies [Implementation of Right to Information Act 2005. Department of..]. The current legislative framework for implementing investment policy has become much simpler, more liberal,and more open.

MAIN DIRECTIONS AND BENEFITS FOR FOREIGN INVESTORS

Automatic resolution status. With the increasing liberalization of the Indian economy today, it is usually not necessary to obtain official government approval for new foreign direct investment (FDI), just apply to the Reserve Bank of India (RBI). However, in some cases and in cases of investment in certain specific sectors of the economy, prior authorization is required. These include civil aviation, oil exploration and refining, housing construction, nuclear power and related industries, arms manufacturing, periodicals, television, and the postal service.

Under the law, the Reserve Bank of India provides automatic authorization (sometimes referred to as "automatic approval") in the case when the percentage of FDI does not exceed a certain norm. This rate is 74% in several regions of 9 industrial groups [Foreign Investment Policy.., 2004]: mining; non-ferrous metals and alloys; production of medical and laboratory equipment; production and transmission of electricity; non-traditional types of electricity production; construction; pipelines, excluding pipelines for crude oil, petroleum products and natural gas; water transport; storage and warehousing. For other industries, this rate is 51%. These include: metallurgy, transport, production of generators, electrical and industrial equipment, production of agricultural machinery, printing presses, food products, cotton, textiles, wool and silk, basic chemical products, production of metal products and parts (except for parts for mechanical engineering products), healthcare and medical services, land and water transport. transport. For such industries as the extraction of iron ore and other minerals, with the exception of the uranium group, the norm is 50%. It should also be noted that foreign investment in India is also regulated by the Foreign Exchange Control Act (FEMA) [Foreign Exchange.., 1999].

page 81

The adoption of the "automatic approval" status, which significantly eased bureaucratic and procedural issues for foreign investment, is largely due to Indian diplomacy, which has contributed to the use of foreign experience here.

FDI for new businesses. Under Indian law, all new enterprises with foreign direct investment from non-Resident Indians (NRI) and representative offices abroad (OSV - Overseas Corporate Bodies) are subject to automatic approval of up to 100% [Guide to NRI.., 2003], except for those that require separate government approval. The investor can choose whether to submit an application to the Foreign Investment Promotion Board (FIPB) or not to use the "automatic approval"path. Details regarding the opportunities provided by the NRI are regulated by regulations of the Reserve Bank of India [http://www.rbi.org.in/home.aspx].

Investments in public sector enterprises, as well as in associations owned by export - Oriented enterprises (EOU-Export Oriented Units) or located in export-Processing zones (EPZ - Export Processing Zones), special economic Zones (SEZ - Special Economic Zones), parks of electrotechnical equipment (ENTR - Electronic Hardware Technology Parks) or parks of industrial enterprises (EPZ-Export Processing Zones). STP-Software Technology Parks, also have the status of "automatic approval" and are regulated by a number of legislative acts [Special Economic Zones in India..].

FDI for existing enterprises also receives the status of "automatic approval" if the investment is made by NRI and OSV in order to attract their own funds. However, there are additional requirements for such enterprises: an increase in the share of shares should lead to an expansion of the shareholder base of the existing company without absorption of its share by NRI, OSV and foreign investors, and a number of others. Participation of international financial institutions in local enterprises is allowed automatically in accordance with the legislative acts of the Indian Currency Security Council (SEBI - Securities Exchange Board of India) [The Securities and Exchange Board.., 1992], RBI and special rules for sectors with FDI [The Securities and Exchange Board.., 2005].

The most urgent task for India today has also become attracting foreign investment in the small enterprise sector, which is coordinated by the Ministry of Small Scale Industries (Ministry of Small Scale Industries-SSI) [Ministry of Agro.. Ministry of Agriculture and Rural Industries (ARI) and the Ministry of Agricultural and Industrial Production in Rural Areas [Ministry of Small..Guided by the adopted legislative acts [Handbook on Right.., 2005], these agencies express and protect the interests of small enterprises (SMEs), represent them in various government bodies, other ministries (including the Ministry of Foreign Affairs), state administrations, and cooperate with international and non-governmental organizations interested in the development of small businesses. The policy on small enterprises stipulates that participation of other enterprises, including foreign ones, is allowed up to a share of 24%. However, if the company intends to withdraw from the small business status, there is no upper limit on foreign participation. In this case, an industrial license must be obtained, providing for export taxation of 50%.

Foreign investment in trade activities has now become one of the most important components of economic policy. On the basis of the Foreign Trade Act [Foreign Trade.., 1992], from April 1, 1997, the development of the "Export and Import Policy of India for the period 1997-2002" [Export and Import.., 1997] entered into force, which was included in the ninth Five - Year Development Plan of the country [Ninth Five Year Plan 1997 - 2002]. For sti-

page 82

On April 1, 2002, the program "Export-Import Policy of India for 2002 - 2007" [Exim Policy 2002 - 2007, 2002] came into force, which, together with a number of new initiatives, consolidated and developed previously adopted decisions aimed not only at developing exports, but also at attracting investment and improving the competitiveness of Indian goods.

Foreign investment in trade is allowed automatically if the foreign equity ownership does not exceed 51%, and if this figure is exceeded-only if there is a government permit, under which 100% of FDI is allowed for conducting trade operations in certain sectors, such as the high-tech medicine and diagnostics sector, the social sector, export products, wholesale imports,etc. as well as in activities related to trade in electronic products.

Encouraging foreign investment in the states of India has enabled targeted efforts to attract FDI to specific states of the country. According to the law, the state usually finances a certain part of the costs of an investment project [India 2003-04.., 2003]. Different states are divided into categories "A", " B " and " C " according to their level of development. The degree of state involvement in an investment project varies depending on the nature of the industry that the state is most interested in developing. Some states offer incentives for businesses or priority industries in accordance with their industrial policies. Such initiatives include, for example, price privileges for goods produced by small businesses when purchased by government organizations, exemption from customs duties for a certain period, etc. There are also various energy tariff exemptions offered by state governments. Actual incentives vary from state to state and from industry to industry, depending on the field of activity in which the company operates.

All the diplomatic missions of India, which receive information about the investment potential of the states through the Ministry of Foreign Affairs and other ministries, are widely and actively involved in implementing and explaining this policy of investing in the states. Foreign diplomatic missions of India work not only with official government agencies, but also with large chambers of commerce and industry, which brings undoubted success to the country.

INSTITUTIONS CREATED TO ATTRACT FOREIGN INVESTMENT

In order to attract foreign investment in India, a whole system of state structures has been created and is functioning to assist in this issue. The Government of India is taking the necessary steps to ensure that this institutional infrastructure, ministries and departments, as well as the Indian Chambers of Industry system actively contribute to the implementation of the Government's policy of attracting foreign direct investment. These main structures in India include:

1) The Department of Industrial Policy and Support (DPP) of the Ministry of Commerce and Industry of India, established in 1995, is responsible for the formulation and development of policies for attracting foreign direct investment; formulation and implementation of industrial policy and industrial development strategy; assessment and forecast of industrial development and attracting FDI; coordinates the work of the Committee for Attracting Foreign Investment and Managing the implementation of conducts work with international organizations in the field of attracting investment; coordinates the main chambers of commerce and industry

page 83

Coordinates its activities with the Investment and Trade Promotion Department of the Ministry of Foreign Affairs of India, etc.

2) The Foreign Investment Promotion Board (FIPB) is formed as a special body within the Economic Department of the Ministry of Finance of India [Foreign Investment Promotion Board..], mainly to attract FDI and consider all proposals that relate to foreign direct investment and do not fall under the "automatic approval" [Investing in India, Foreign.., 2005]. The Committee uses a flexible system of focused negotiations with investors and considers proposals in their entirety, regardless of individual parameters. It prepares recommendations for each proposal approved by the Government, which are then transmitted to the SIA-Secretariat for Industrial Assistance, which acts as the FIPB secretariat.

3) The Industrial Facilitation Secretariat (SIA) was established in the Department of Industrial Policy of the Ministry of Commerce and Industry of India to provide support, assist investors; receive and process all applications that require government approval, assist investors in setting up projects (including liaising with other organizations and state governments), and monitor project execution [SIA..]. It also communicates all government decisions related to investment and the use of modern technologies.

4) The Foreign Investment Implementation Authority (FIIA) [Implementation of Right.., 2005] was established as part of the DPP in order to simplify the implementation of approved FDI projects. The Office assists foreign investors in obtaining the necessary permits, resolves problems that arise, and seeks the involvement of various government agencies in finding solutions to problems that arise. FIIA is also responsible for maintaining contact with the Ministry of Foreign Affairs to inform India's diplomatic missions abroad about the implementation of approved FDI projects. FIIA is the only link between the investor and government agencies, including ministries, state governments, government regulators, tax departments, the Legislative Council for Companies, etc. in almost all countries of the world. Relevant committees have been set up in ministries and departments to monitor and inform FIIA about FDI inflows and sales.

5) The Investment Promotion and Infrastructure Development Cell [Investment Opportunities in Infrastructure, Roads.., 2005], being a structural division of SIA, performs the following functions: dissemination of information about the investment climate in India; processing and distribution of materials of presentations and other publications; organization of symposia, seminars investment promotion activities; liaising with state governments on investment incentives; coordinating the development of infrastructure sectors suitable for investment injection; encouraging private investment, including infrastructure; drawing up plans and prospects for the development of investment sectors both in India and abroad.

6) The Investment and Trade Promotion Division of the Ministry of Foreign Affairs of India was established specifically to boost the attraction of FDI, as well as promote Indian investment abroad. The Department directly and through other departments of the Ministry of Foreign Affairs maintains constant contacts with its embassies and foreign missions in India, as well as closely cooperates with foreign investors and supports their initiatives and participation in various projects in India. We are also actively working with Indian citizens abroad to attract foreign investment.

page 84

FDI. The Department promotes the preparation and delivery of information about the investment climate in the country, as well as the study of investment opportunities of potential investors.

7) The Foreign Investment Promotion Council (FIPC) was established to connect government agencies with Chambers of Commerce and industry and the business community in India. The Board is chaired by Industrial Credit and Investment Corporation of India Limited (ICICI). The Presidents of the three major Chambers (the Confederation of Indian Industries, the Federation of Indian Chambers of Commerce and Industry and the Association of Indian Chambers of Commerce and Industry) are members of this Council, and the Deputy Minister of Industry is also a member of the Council and at the same time the Deputy Chairman of the Council.

8) State-level institutionalization is an important link between local businesses and ministries and agencies that implement state-level investment policies [India 2003-04-Reliable Business Partner Attractive FDI Destination. 2003]. In most states, there are organizations for industrial promotion and investment support, such as the Investment Promotion Agencies (IPA); the State Industrial Development Corporation (SIDC); the Small Scale Industries Development Corporation (SSIDC); and the State Finance Corporation (SFC - State Financial Corporation); District Industrial Centers (DIC-District Industries Center); Permit Facilitation Services. Some state governments have established "single window" services (SWS - single window services) and investor assistance services (ES - escort services). SWS provide investors with the opportunity to complete all formal procedures in one place and get the necessary support there. ES serves large - and medium-scale projects and aims to help the investor collect information, identify projects, study the feasibility of their execution, explain the project to financial organizations, and so on.

9) Interaction with the business community is also an important step in India's modern policy in the field of foreign investment, which ultimately aims to ensure the interests of national business [India Finance & Investment Guide..The main trade organizations and chambers of industry play an active role in the implementation of investment policy: Confederation of Indian Industries, Federation of Indian Chambers of Commerce and Industry, Association of Indian Chambers of Commerce and Industry and other central and regional chambers. Coordination of the major Chambers ' activities is carried out through their respective associations with access to the Department of Industrial Policy and Support of the Ministry of Commerce and Industry of India, as well as through the Foreign Investment Promotion Council (FIPC).

As can be seen from the above, the creation of appropriate institutions plays a significant role in the implementation of investment policy. Effectively coordinated activities of government, diplomatic and business structures to create a favorable investment climate in India stimulate the activity of foreign companies in the country and the influx of investment. Speaking about the urgency of institutionalization, former Deputy Minister of Foreign Affairs and National Security Adviser to the Government of India J. N. Dixit in the section" Economic Diplomacy " of his book emphasizes "the importance of effective coordination of the departments of the Ministries of Finance, Trade and Foreign Affairs with the Office of the Prime Minister in matters of export and investment.." [Dixit, 1996, p. 391] and further notes: "Interaction between government departments-

page 85

It is becoming increasingly close, more frequent and more positive between the police and the private sector. The leaders of the Federation of Indian Chambers of Commerce and Industry, the Confederation of Indian Industrial Enterprises and the Association of Indian Chambers of Commerce and Industry play a very important role in this transformation" [Dixit, 1996, p.392].

SUCCESS IN ATTRACTING FOREIGN INVESTMENT

An analysis of data from the Indian FDI Planning Commission [Foreign Investment, India.., 2002], and other official sources [Reports on Investment Approval.., 2004] shows that the Government of India's policy of attracting FDI is yielding positive results. FDI flows to India in the amount of $ 3-4 billion. annually. According to the Reserve Bank of India [Asia Pulse News.., 19.12.2005], in the six months of fiscal year 2005 - 2006 (April-September), India received FDI in the amount of $ 2.86 billion. Taking into account investments through offshore funds and other sources, they amounted to $ 5.10 billion.

Table 1 shows data on FDI inflows for 2002-2005.:

Table 1

FDI inflows by country (USD million) US$)

A country

2004-2005 (Preliminary)

2003-2004

2002-2003

Total FDI

2320

1462

1658

Mauritius

820

381

534

USA

469

297

268

Great Britain

84

157

224

Germany

143

69

103

Netherlands

196

197

94

Japan

122

67

66

France

44

34

53

Singapore

64

15

39

Switzerland

64

5

35

South Korea

14

22

15

Other countries

300

218

227

-----

Source: [Reserve Bank of India. Annual Report 2004 - 2005].

The main donors of FDI are the countries from which the Government of India approved investments in the amount of US$12.934 billion, Mauritius $7.952 billion, Great Britain $5.268 billion, Japan $2.613 billion, South Korea $2.198 billion, the Netherlands $2.123 billion between 1991 and January 2004., Germany - $2.086 billion, Australia - $1.513 billion, France - $1.464 billion, Malaysia - $1.355 billion.

Table 2 shows data on the distribution of FDI inflows by destination for the period 2002-2005.:

During the period from 1991 to January 2004, FDI was invested in the following main areas: electrical equipment - 13.9% ($2.448 billion); telecommunications-12.9% ($2.259 billion); transport-10.8% ($1.984 billion); energy complex-10.4% ($1.813 billion); services (hotels tourism, etc.) - 8.3% ($1.573 billion); chemical production-6.7% ($1.316 billion); food processing-4.0% ($0.788 billion); textiles-1.5% ($0.290 billion); metallurgy-1.4% ($0.252 billion); tourism and hotels - 0.8% ($0.138 billion) and other industries.

Analysis of the investment policy and the results obtained allow us to conclude that India has created a legislative framework that provides a favorable investment climate.

page 86

Table 2

Distribution of FDI by destination (USD million)

2004-2005 (Preliminary)

2003-2004

2002-2003

Fishing industry

10

2

9

Mining industry

11

18

9

Industrial production

924

426

480

Food processing industry

183

64

39

Energy sector

14

90

48

Construction

209

172

237

Retail, hotels, restaurants

22

67

39

Transport

70

20

12

Financial, insurance and business services

363

206

223

Computer service

372

166

297

Education

2

0

1

Research and scientific service

5

1

0

Medical and Healthcare Services

25

15

28

Other service

10

2

18

Other sectors

100

213

218

-----

Source: [Reserve Bank of India. Annual Report 2004 - 2005].

climate for foreign investment: freedom to invest, choose technologies, import and export, accelerate the privatization process, restructure state-owned enterprises, etc. India is currently the most attractive investment destination in Asia, according to a Reuter survey of investment managers. Managers polled by Reuter named the ongoing economic reforms in this country as the main factor determining the investment attractiveness of India [India is the champion of Asia.., 14.06.2005].

It should also be noted that today India, being a vast market with millions of middle-class consumers with increasing purchasing power [Indian Investment Center..], has the following advantages when making an investment:: focus on high technologies and innovations; significant reserves of untapped natural resources; a promising future in the field of information technology and the biotechnological industry. A well-developed banking system, a network of commercial banks supported by a number of international banks, insurance, joint ventures and financial institutions of national and state significance, a dynamic capital market, etc. contribute to the creation of a good institutional climate for foreign investors.

Speaking at a joint session of the Houses of Parliament, President of India A. P. J. Abdul Kalam, speaking about India's achievements and prospects in the investment sphere, stressed that " all major economic indicators are growing, and investors have once again believed in our potential. The Government has set up an Investment Committee to further accelerate investment activities by removing political and operational obstacles" [Address by the President of India.., 25.02.2005]. It should also be noted that many publications mention the huge role of India's economic diplomacy in creating an investment climate. For example, a special correspondent for The Hindu newspaper highlights India's opportunities and successes in using various tools to promote this country as a promising area for foreign investment " [Economic diplomacy.., 2002]. One of India's leading experts in economic diplomacy, Kishan S. Rana ot-

page 87

He notes that "in the era of economic reforms, economic diplomacy, which performs its functions through the Foreign Ministry and Indian missions, plays an important facilitating role that deserves attention and further development" (Rana, 2002).

In general, India's experience and achievements in attracting foreign investment indicate that it has achieved significant success in this area due to the commitment of the Government and Parliament to continuously adhere to the policy of continuity and systematically adopt and promptly improve legislation aimed at promoting the implementation of foreign investment policies.

list of literature

India is the Asian champion in terms of investment attractiveness. Business press. Номер 22 (276) от 14.06.2005. http://businesspress.ru/newspaper/article_mld_21960_aid_343164.html

Address by the President of India to Parliament. Article 17. 25/02/2005. New Delhi.

Asia Pulse News. Monday. 19.12.2005.

Customs Act, 1962. New Delhi.

Customs Tariff Act, 1975. New Delhi.

Destination India. 2004. Issue N 2. SIA (Secretariat for Industrial Assistance), Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, Government of India, New Delhi, (http://www.dipp.nic.in/inv_opp_nw/inv_opp_sector.pdf)

Dixit J. N. My South Block Years. Memoirs of a Foreign Secretary. New Delhi: UBS Publishers' Distributors Ltd, 1996.

Dixit J. N. The Indian Foreign Service: History and Challenge. New Delhi: Konarak, 2005.

Economic Diplomacy, the New Vantra // The Hindu, 25.08.2002.

Exim Policy 2002 - 2007. Government of India, Ministry of Commerce and Industry, Department of Commerce, 2002. New-Delhi, (http://exim.indiamart.com/indian-exim-policy/exim-policy-2002-07/contents.html)

Export and Import Policy for the period 1997 - 2002. Government of India. New-Delhi, 1997 (http://exim.indiama-rt.com/indian-exim-policy/introduction.html)

Foreign Exchange Management Act (FEMA), 1999, India.

Foreign Investment, India. Planing Commission Government of India. New Delhi, August 2002.

Foreign Investment Policy by Investment Division and Report of the Committee on Liberalization of Foreign Institutional Investment by Department of Economic Affairs, Ministry of Finance, Government of India. New Delhi, June 2004. (http://finmin.nic.in/the_ministry/dept_eco_affairs/investment_div/fip.htm)

Foreign Investment Promotion Board, Department of Economic Affairs, Ministry of Finance, Government of India. New Delhi, (http://finmin.nic.in/the_ministry/dept_eco_affairs/fipb/fipb_index.htm)

Foreign Trade (Development and Regulation Act). 1992. N 22. Government of India, New-Delhi.

Guide to NRI - Investment, Taxation & FEMA I Ed. by K. K. Ramani, N. C. Jain & Sunil Ramani, 4th edition. New Delhi, 2003.

Gujral J. K. A Foreign Policy for India. New Delhi: External Publicity Division, Ministry of External Affairs, Government of India, 1998.

Handbook on Right to Information Act, 2005. Ministry of Small Scale Industries, Government of India. New Delhi, 2005 (http://www.rbi.org.in/home.aspx)

Implementation of Right to Information Act 2005. Department of Industrial Policy and Promotion, Ministry of Commerce and Industry of India (http://www.dipp.nic.in/rti/rti_index.htm)

Implementation of Right to Information Act 2005. Manual of Information in respect of Department of Industrial Policy & Promotion (DIPP), Ministry of Commerce & Industry, Government of India (http://www.dipp.nic.in/dippsub.htm)

The Income-tax Act. New Delhi, 1961.

India 2003 - 04 - Reliable Business Partner Attractive FDI Destination. Investment and Technology Promotion (ITP) Division, Ministry of External Affairs, Government of India: Graphic Point Pvt. Ltd., 2003.

India Finance & Investment Guide (http://finance.indiamart.com)

Indian Foreign Policy. Agenda for the 21 st Century. Vol. 1. - Foreign Service Institute in association with Konark Publishers PVT Ltd. New Delhi, 1997.

Indian Investment Centre (http://iic.nic.in/iic2_a.htm)

India's Economic Agenda: PM's McKinsey Quarterly Interview. The McKinsey Quarterly, 2005 Special Edition: Fulfilling India's promise, New-Delhi (http://www.indianembassy.Org/press_release/2005/August/5.htm)

Industrial Entrepreneur Memoranda, India Watch Reports, (http://www.indianinvest.com/iem.htm)

The Industries Development and Regulation (IDR) Act. New Delhi, 1951 (http://www.exim.indiamart.com/ssi-regulations/idr-act.html)

page 88

Investing in India, Foreign Direct Investment Policy & Procedures, Department of Industrial Policy and Promotion, Ministry of Commerce & Industry, Government of India. New Delhi, November 2005.

Investing in India, Secretarial for Industrial Assistance (SIA), Department of Industrial Policy & Promotion, Ministry of Commerce and Industry of India, 2005. (http://siadipp.nic.in)

Investment and Trade Promotion (ITP) Division, Ministry of External Affairs, Government of India (http://meaindia.nic.in/)

Investment Opportunities in Infrastructure, Roads, Investment Promotion and Infrastructure Development Cell, Secretariat for Industrial Assistance, Department of Industrial Policy and Promotion, Ministry of Commerce & Industry, Government of India. New Delhi. 2005.

Investment Opportunities in Infrastructure Sectors. Investing in India, Foreign Direct Investment-Policy & Procedures. Department of Industrial Policy & Promotion, Ministry of Commerce & Industry, Government of India. New Delhi, March 2005.

Kapur Harish. Diplomatic Journey: Emerging India. New Delhi: Manas Publications, 2004.

Manual on Foreign Direct Investment in India - Policy and Procedures. May 2003, SIA (Secretariat for Industrial Assistance), Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, Government of India. New Delhi, 2003.

Ministry of Agro and Rural Industries. Government of India, (http://ari.nic.in/)

Ministry of Small Scale Industries. Government of India, (http://ssi.nic.in/)

National Common Minimum Programme of the Government of India. New-Delhi, May 2004.

Ninth Five Year Plan 1997 - 2002 // Development goals, strategy and policies. Vol. I // Thematic issues and Sectoral Programmes. Vol. II // New Delhi: Government of India, Planning Commission.

The Policy of Continuing with Economic Reforms // The Indian Express. May 16, 2004.

Rana Kishan S. Inside Diplomacy. New Delhi: Manas Publication. 2000.

Rana Kishan S. Bilateral Diplomacy. New Delhi: Manas Publications, 2002.

Rana Kishan S. The 21st Century Ambassador: Plenipotentiary to Chief Executive. New Delhi: Oxford University Press, 2005.

Reports on Investment Approval and FDI in India, Academic Foundation (Compiler). New Delhi, 2004.

Reserve Bank of India. Annual Report 2004 - 2005. (http://rbidocs.rbi.org.in/rdocs/AnnualReport/PDFs/65516.pdf)

The Securities and Exchange Board of India. Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty (Amendment) Regulations. 2005, New Delhi.

The Securities and Exchange Board of India Act, 1992. New Delhi, November, 1992. (http://www.sebi.gov.in/)

Sengupta Arjun. Fifty Years of Development Policy in India // Independent India: The First Fifty Years. New Delhi: Oxford University Press, 1992.

SIA (http://siadipp.nic.in)

Special Economic Zones in India. Department of Commerce, Ministry of Commerce and Industry of India. http://sezindia.nic.in/

Statement on Industrial Policy, Government of India, Ministry of Industry. New Delhi, 24.07.1991.

The Taxation Laws (Amendment) Ordinance, 2003. Legislative Department, Ministry of Law and Justice. New Delhi, 8.09.2003. (http://incometaxindia.gov.in/archive/ordinance.pdf)

Permanent link to this publication: