Shipping & Logistics

Public-Private Partnerships in India’s National Highways

Sept. 15 – The Indian government foresees Rs. 50,000 crore (US$10.54 billion) in private investments in the highways sector this fiscal as it awards contracts for building 7,300 kilometers (4,536 miles) of roads.

According to India’s Ministry of Road Transport and Highways, bids for about 4,600 kilometers have already been received or invited this year and the Ministry will award concessions for 7,300 kilometers before the year ends.

In the first four months of the current year, the government has awarded public-private partnership (PPP) projects with an investment of over Rs. 21,000 crore. The bids received are far better than estimated bids for these projects. This will give the government additional revenues of more than Rs. 10,000 crore. Continue reading →

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India Introduces Incentives to Attract Investment in Cold Storage Sector

Oct. 6 – India is looking to build cold-storage facilities in an effort attract investment, cut food wastage and streamline the supply chain in a country that produced the second largest amount of fruits and vegetables.

Fruit and vegetable wastage due to poor post-harvest management and lack of cold chain facilities have been estimated to cost up to Rs.500 billion annually the National Commission of Farmers said in its fifth and final report.

Finance Minister Pranab Mukherjee announced a number of schemes to attract investment in the sector on Friday, stating that he wanted to reduce the “difference between the farm gate prices, wholesale prices and retail prices.” Continue reading →

Posted in FDI and Foreign Trade, Legal and Regulatory, Shipping & Logistics | 8 Comments

Special Economic Zone Incentives to Continue Until 2014

Aug. 30 – Special economic zone incentives will be exempted from the new direct tax code (DTC) until 2014 although there is a proposed 20 percent minimum alternative tax based on a version approved by the Cabinet last Thursday.

Despite the assurance, investors are still nervous about the changes and developers are unsure whether zones will attract enough investors despite the changes made to the DTC. The bill may still undergo revisions when it reaches Parliament for approval.

Continue reading →

Posted in Economy and Politics, FDI and Foreign Trade, Finance, Tax and Accounting, Legal and Regulatory, Location, Retail, Shipping & Logistics | Leave a comment

Japanese Conglomerate to Invest in SEZ, Steel Plant in Gujarat

Aug. 6 – Japanese conglomerate Mitsui and Co. Ltd. and Indian industrial conglomerate Ruchi Group have announced plans to establish a special economic zone that will include a US$1 billion steel complex in western India’s Tagdi village in Kutch, Gujarat.

The joint venture, Indian Steel Corp. Ltd. (ISC), aims to expand steel service centers around the country. ISC already has 50 hectares of land for the project in Kutch and is waiting for the local government to make 950 hectares available for development. Continue reading →

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Special Economic Zone Exports Up by 67 Percent

Jul. 20 – Special economic zone exports in India increased by 67 percent to Rs. 587.5 billion for the first quarter of the financial year compared to the same period last year.

Top special economic zone exports included information technology, IT hardware, petroleum, engineering, leather and garments. Exports from the zones have continued to show strong growth. From 2009 to 2010, SEZ exports increased by more than 122 percent. Continue reading →

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India to Exempt Tax on Selected Services Starting July 1

Jun. 25 – India will exempt tax on services that deal with low-cost housing construction, power distribution, services within ports and airports, selected tournaments and championships, foreign travelers in transit and those flying to and from the northeast starting July 1.

“Repair of ships or boats or vessels belonging to the Government of India, including the Navy or the Coast Guard or the Customs, but does not include government owned public sector undertakings,” the Central Board of Excise and Customs (CBEC) said as to the services exempted from tax. Continue reading →

Posted in Automotive, Chemical & Pharmaceutical, Chennai, Economy and Politics, Finance, Tax and Accounting, IT & Telecom, Legal and Regulatory, Location, Retail, Shipping & Logistics | 2 Comments

India, Europe to Finalize Free Trade Deal

Jun. 24 – India and Europe are set to finalize a free trade deal by the end of this year that aims to boost bilateral trade to US$66 billion in the next five years.

Negotiations begun as early as 2007 but have proceeded slowly due to trade issues presented by both countries. An “in principle” agreement between India and the EU on the FTA was likely to be had by the end of this year said India’s Commerce and Industry Anand Sharma during a Global India Business Meeting held in Madrid. Continue reading →

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Insurance Sector May Increase Cap on FDI

Jun. 23 – India is considering lifting its foreign direct investment cap on the insurance sector from 26 percent to 49 percent according to Finance Minister Pranab Mukherjee.

“We have committed to allow 49 percent and the necessary legislation is pending before the House, as the leg process will be completed it will be done…in a year or so.” Pranab Mukherjee told NDTV during an Indo-U.S. CEO forum in Washington. Continue reading →