Aug. 1 – Ford India has become the second auto-manufacturer after Hyundai to have their dedicated car parking yard at Chennai Port. With Ford making India its global manufacturing and export hub, this dedicated facility at the Chennai Port marks a significant step to provide access and further accelerate exports of Chennai-made Ford autos, including the all-new EcoSport, to 38 countries worldwide. Continue reading
Dec. 22 – Asia Briefing takes a closer look at India’s top six cities (by GDP) in the newly released Indian city guides for Mumbai, New Delhi, Kolkata, Bangalore, Chennai and Hyderabad. These city guides are available for free download on the Asia Briefing bookstore.
GDP: US$209 billion
Mumbai is the most populous city in India and in the top five in the world. While the 2011 census estimated population at 12.4 million, external estimates suggest double that. Continue reading
Posted in Bangalore, Chennai, FDI and Foreign Trade, Kolkata, Markets, Mumbai, New Delhi
Tagged Bangalore, Chennai, Hyderabad, India City GDP, India City Guides, Kolkata, Mumbai, New Delhi
Jul. 29 – U.S. auto giant Ford said yesterday it would invest US$1 billion to build a vehicle assembly and engine plant in Gujarat as it increases production to exploit the country’s burgeoning car market. The new factory will employ around 5,000 workers and will be the firm’s second in India.
“Ford has very aggressive expansion plans in India and in Asia Pacific and Africa,” stated Joe Hinrichs, president of Ford Asia Pacific and Africa. Continue reading
Aug. 4 – A recent Supreme Court decision has ruled that payment made in kind will also be subject to taxes in India.
This was based on an appeal made in court by local company Kanchanganga Sea Foods regarding its payment in kind to Hong Kong-based company Eastwide Shipping for lending the use of vessels and personnel. The Indian company gave Eastwide 85 percent of fish catch as payment. It was able to get its foreign partner official permission to fish in an Indian economic zone. Continue reading
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
Apr. 12 – As the Indian economy develops, the need for massive improvements in its transportation network also increases.
With Mumbai’s first monorail service about to be launched and those familiar street level cantilevered rail lines now weaving their way above the city’s roads, other places in the country have already started taking notice. All three major monorail companies – Bombardier, Scomi and Hitachi – are setting up operations in India because of anticipated demand. Continue reading
Mar. 9 – The Confederation of Indian Industries has ranked New Delhi as having the best quality of life for its residents among all cities in the India based on their latest “Liveability Index.”
After New Delhi, the next best cities to live in are Mumbai, Chennai and Bangalore. The survey looked at 37 Indian cities in over a decade to compute for a quality of life index. It also used hard data collected from reliable sources to eliminate the possibility of personal bias or a sampling error obscuring the reality. Continue reading
Dec. 17 – Italian Minister for Economic Development said it would consider creating preferred shipping routes exclusively for Indian trade.
A collaboration agreement is in the works to link the ports of Venice with Mumbai and Genoa with Chennai with the aim of making Italy the gateway for Indian products bound for the European and Mediterranean market. Continue reading