MINISTER OF THE STATE IN THE MINISTRY OF COMMERCE & INDUSTRY (SHRI JYOTIRADITYA M. SCINDIA)
(a): As per the data maintained by Department of Industrial Policy & Promotion, as received from the
Reserve Bank of India, Foreign Direct Investment (FDI) equity inflows, amounting to Rs. 9,967.60 Crores
(US $ 2,258.28 million) have been received in Trading (Wholesale Cash & Carry) sector, from April, 2000
to December, 2010. Sector-wise data was not maintained prior to this period.
(b): Over 900 companies have received FDI, for undertaking Wholesale Cash & Carry activities, from April,
2000 to December, 2010. As FDI in this activity is permitted under the automatic route, such proposals do
not require Government approval, through the Foreign Investment Promotion Board (FIPB), for induction of FDI.
(c): Details with regard to areas of investment, by players in the Wholesale cash & Carry Sector, in
infrastructure, warehouses and cold storage sectors, are not centrally maintained by the Department
of Industrial Policy & Promotion.
(d) & (e): Sector-wise details of tax evasion are not maintained in the Department of Revenue.No specific
instance of violation, in terms of tax evasion, by international investors and players in cash and carry
sector has come to the notice of the Central Board of Direct Taxes (CBDT), Department of Revenue, as of
date, during tax audit. However, certain instances of foreign investors not complying with tax withholding
provisions, while divesting their stakes in Indian entities, to other non-residents, have been detected,
against which CBDT raises tax demands.
