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An Introduction to Doing Business in India 2017 – New Publication from Dezan Shira & Associates

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An Introduction to Doing Business in India 2017, the latest publication from Dezan Shira & Associates, is out now and available to subscribers as a complimentary download in the Asia Briefing Bookstore

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India’s 2017 Budget: Sober Initiative after Heady 2016

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By Dezan Shira & Associates 

Foreign observers could be forgiven for expecting fireworks from India’s 2017-2018 budget. India has one of the fastest growing economies in the world and has been dubbed the last BRIC standing.

Finance Minister Arun Jaitley, however, has rarely used the budget for bold initiative. Across Jaitley’s four budgets, the finance minister has instead attempted to find something for everyone.

This year’s budget is no different in that regard: tax relief for the middle class as well as SMEs; incentives and reforms to combat black money; assistance for sectors hurt by demonetization; a commitment to developing infrastructure.

If November’s shock demonetization caused foreign observers to worry about the unpredictability of the government, this budget reconfirms that India is committed to steady, piecemeal reform.

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New SEZ App to Benefit Importers, Exporters

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By Dezan Shira & Associates 

The Ministry of Commerce and Industry (MOCI) launched a mobile app called SEZ India under the government’s e-governance initiative. The app provides detailed information about the country’s special economic zones (SEZ), including information on regulations and trade policies.

In addition, the app acts as an integrated tool to facilitate speedy processing of various transactions for the SEZ developers and units.

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Did India’s 2016 Budget Live Up to its Promises?

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By Dezan Shira & Associates 

As Finance Minister Arun Jaitley delivers the 2017-2018 union budget speech today, we look at the performance of the 2016-2017 Union Budget. Ease of doing business was at the forefront of last year’s agenda, while digitalization, job creation, infrastructure, and investments were some of the other key budgetary priorities.

How did the government do? This article briefly assesses the impact of the 2016-2017 budget and what it means for businesses in India.

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Will India Change the Dates of its Financial Year?

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By Dezan Shira & Associates 

The government-appointed Shankar Acharya committee has recommended that India shift from the current April to March financial year to a January to December financial year. If the government agrees to go ahead with the recommendation, it can confine this year’s fiscal year to nine months up to December 2017 or make the change in the 2018 fiscal year.

The government will discuss this plan further during the Union Budget on February 1. Many expect the government to make an announcement in the near term.

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India’s Public Holidays in 2017

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By Dezan Shira & Associates

The government has announced its holiday schedule for 2017. The schedule is divided across three classifications: gazetted, restricted, as well as state and union territory. Gazetted holidays are mandatory, restricted holidays are optional, and state and union territory holidays are local.

Many foreign human resource managers struggle with India’s holiday schedule. That is no surprise: the federal and state governments have acknowledged a number of holidays every month to accommodate over 1.2 billion people spread over 37 diverse states and union territories.

Although there are many ways to manage this schedule, many businesses in India close offices on the gazetted holidays and grant employees several optional holidays that they may select to observe a non-gazetted holiday of their choosing. Other businesses simply mirror the holiday schedule observed by the management of their office building.

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India’s 2017 Budget: What should SME investors look for?

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By Dezan Shira & Associates 

The countdown to the 2017 Union Budget has begun.

The government will announce the budget on the first day of February, one month ahead of the traditional announcement on the last day of February. This new date was inspired by the government’s wish to solidify the budget ahead of the new financial year, a grace period that many businesspeople will appreciate after the shock and awe of November 2016’s demonetization.

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Restrictions Eased for Companies in International Financial Service Centers in India

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By Pritesh Samuel & Koushan Das 

In a move that will boost foreign investment and business in the Indian economy, the Modi government recently unveiled various incentives for private companies that want to set up in international financial service centers (IFSC) in the country. These include granting such firms exemptions from several norms in the Companies Act, 2013. IFSCs serve customers outside the domestic economy and handle cross-border financial products and services. They can be set up in special economic zones (SEZs) to avail benefits and inducements that are applied to such zones.

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