About: India Briefing

Farmer Unrest in India: Weak Infrastructure and Vulnerable Supply Chains

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By Bradley Dunseith

On June 1, 2017, farmers in the Indian state of Maharashtra began a statewide strike – crippling shipments of milk, vegetables, and fruit to major cities like Mumbai and Pune. The strike spread to the neighboring state of Madhya Pradesh where clashes with the police left five farmers dead.

The strike, which lasted just under two weeks, offers a candid glimpse into India’s vulnerable supply chains, poor rural infrastructure, and the delayed repercussions of the Modi government’s policies.

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India Market Watch: Modi Reaches USA, Chinese and Japanese India-bound Investments Grow

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Modi Visit to the US

Narendra Modi landed in Washington D.C. on Sunday, starting off a low-key three-day visit. This is the Indian prime minister’s fourth visit to the US, and first since President Trump’s inauguration.

At the top of Modi’s agenda are India’s concerns over the issuance of H1-B work visas, job creation and American investments, as well as securing and stabilizing a working relationship with the new American President.

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Filing GST Returns in India

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By Vasundhara Rastogi

GST Returns In India

The Goods and Services Tax (GST) will come into effect from July 1, 2017.

Under the new indirect tax system, every business and professional entity in India with an annual turnover exceeding US$31,054 (Rs 20 lakh), and US$15,527 (Rs 10 lakh) in the north-eastern states of India, will be required to obtain GST registration. 

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FIPB is Abolished – What Does it Mean for Foreign Investors?

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By Bradley Dunseith

On May 24, India’s Union Cabinet effectively eliminated the foreign investment promotion board (FIPB) – established 25 years ago as a single-window clearance for all foreign direct investment (FDI). 

India’s regulatory landscape has undergone some major overhauls since the FIPB was first created: between 91 and 95 percent of FDI now comes through the ‘automatic route’ while only 11 sectors still require government approval.   

In this article, we explain the new regulatory landscape for foreign investment that the FIPB previously governed. 

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India Regulatory Brief: Filing GST Returns, Aadhaar Mandatory for Banking and Financial Transactions

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Relaxation in filing GST returns till September 2017

The GST Council meeting on June 18, 2017 delivered key resolutions ahead of the GST launch at midnight of June 30. The Council opted for a relaxation in return filing until September, meaning no late fees or penalties will be levied in the interim period.

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Indian Government Notifies New Safe Harbor Rules

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By Vasundhara Rastogi

On June 7, 2017, the Central Board of Direct Taxes (CBDT) in India revamped safe harbor rules to align safe harbor margins with industry standards and enlarge the scope of international transactions under it. ‘Safe harbor’ in tax parlance refers to the circumstances under which income-tax authorities accept the transfer price declared by the company, at which it transacts with its subsidiaries or an associated company, without any question.

The new safe harbor rules come into effect from April 1, 2017, and will continue to remain in force for two years, up to the assessment year (AY) 2019-2020. 

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India’s ‘Beef Ban’: Repercussions for Meat, Leather, and Dairy Industries

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By Bradley Dunseith

The Indian federal government’s new ‘beef ban’ is producing anxiety in three large industries: meat, leather, and dairy.

The Prevention of Cruelty to Animals (Regulation of Livestock Markets) Rules, 2017 is not an outright ban on slaughterhouses. What the new Rules do, however, is make it next to impossible for slaughterhouses to operate by disrupting their supply chains.

This is a poignant example of how India’s political climate can affect the country’s economic development – hurting domestic and foreign businesses in the process. 

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India Market Watch: UNCTAD 2017 Shows Rising Investment Prospects; Indian Internet Users to Double by 2021

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India to be a favored FDI destination in 2017: UNCTAD report

The ‘World Investment Report 2017’ published by the United Nations Conference on Trade and Development (UNCTAD) predicts that India will continue to be an attractive investment destination despite stagnant trends. Key to the optimistic outlook is the recent government approval for cross-border mergers and acquisitions in India, opening up the domestic market to greater foreign direct investment (FDI).

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