Electronics and strategic electronics are at a similar point of inflexion as the information technology IT/ITES industry was a decade ago, according to the draft National Policy on Electronics, 2011. The current demand for electronics in India stands at US$45 billion and is projected to grow to US$125 billion by 2014 and US$400 billion by 2020
GDP growth in India has largely been driven by the services sector, but the manufacturing sector plays a key role in economic development – one that is receiving increased government attention, as demonstrated by the November release of the National Manufacturing Policy.
India’s Supreme Court has ruled that the British telecom giant Vodafone does not have to pay taxes and penalties for the transaction in 2007 that saw the company acquire a 67 percent stake in Indian mobile phone operator Hutchison Essar.
The Indian government is loosening its FDI regulations and is now allowing foreign investors the opportunity to repatriate their original investment before the expiration of a three-year lock-in period from the day it completes its minimum capitalization norm for the sector.
The Indian government on Tuesday agreed to allow 100 percent foreign ownership in single brand retail stores, paving the way for international businesses such as Starbucks, Ikea and Adidas to operate independently in the country without having to involve local partners.
To aid tax and banking-related information exchange and prevent tax evasion, India signed a double taxation avoidance agreement with Macau on January 1.
The Government of India is planning to propose a hike in the maxiamum foreign direct investment (FDI) capital allowed in broadcasting services - such as direct-to-home (DTH) and cable TV - to a uniform portion of 74 percent.
Dezan Shira & Associates provide a range of services for companies looking to undertake foreign direct investment into Asia, These include corporate establishment, accounting, tax, payroll, audit and due diligence. To learn more about the firm, please contact one of our specialists at india@dezshira.com, download our corporate brochure or visit at us www.dezshira.com
