Mumbai

Foreign Investors Now Allowed to Invest Directly in Indian Stock Market

Jan. 5 – India has permitted overseas individual investors, pension funds, and trusts to directly invest in equities, in an effort to shore up investor confidence and attract money from overseas to bridge the widening current account deficit.

Procedures that enhance capital inflows are high on the government’s agenda as the international downturn led by the Euro Zone Crisis has led to investors pulling money out of Indian equities. For India, the problem has been compounded by a bend in investor confidence because of policy inaction leading to a sharp fall in new projects. Continue reading →

Posted in Economy and Politics, FDI and Foreign Trade, Finance, Tax and Accounting, Mumbai | Tagged Bombay Stock Exchange, India FDI, India Finance, India Sensex, India Stock Market | Leave a comment

India’s Top Six Cities – Free City Guides!

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.

1. Mumbai
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 | Leave a comment

ICBC Sets Up Shop in India

Sept. 20 – China’s most valuable bank – Industrial and Commercial Bank of China (ICBC) – has become the first Chinese bank to establish itself in India. The bank is planning to start with an investment of US$100 million and aims to lend to corporations and cover sectors where Chinese companies have a presence such as power, telecom and infrastructure. The bank has set up an office in the Bandra-Kurla business district in central Mumbai and has appointed Sun Xiang as CEO for India. Continue reading →

Posted in FDI and Foreign Trade, Finance, Tax and Accounting, Markets, Mumbai | Leave a comment

India a Preferred FDI Spot for Euro Zone

Jun. 13 – Despite several obstacles, India continues to be among the one of the preferred destinations for foreign direct investment (FDI) due to its elevated financial expansion, according to the survey of 800 executives by consultancy firm Ernst & Young (E&Y). Continue reading →

Posted in FDI and Foreign Trade, Mumbai, New Delhi | Leave a comment

RBI Hikes Interest Rates for Sixth Time this Year

Nov. 3 – India’s central bank raised interest rates on Tuesday for the sixth time this year, but said that rates will probably remain stable for the next three months.

The Reserve Bank of India, which has tightened its monetary policy the most in Asia this year, increased the repurchase rate, or lending rate, by a quarter point to 6.25 percent and the reverse repurchase rate, or borrowing rate, by the same margin to 5.25 percent. The RBI also tightened rules for residential home loans, explaining that a “sharp rise in asset prices in such a short time causes concern.” Continue reading →

Posted in Economy and Politics, Finance, Tax and Accounting, Legal and Regulatory, Mumbai | Leave a comment

Monorail Manufacturers Concentrate on India’s Infrastructure Boom

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 →

Posted in Bangalore, Chennai, Economy and Politics, FDI and Foreign Trade, Location, Mumbai, Shipping & Logistics | Leave a comment

New Delhi Best City for Living

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 →

Posted in Bangalore, Chennai, Culture and History, Economy and Politics, FDI and Foreign Trade, Mumbai, New Delhi, Real Estate | Leave a comment

Italy Suggests Routes, Facilities for Indian Trade

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 →