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
Dec. 22 – The Government of India is planning to propose a hike in the maximum foreign direct investment (FDI) capital allowed in broadcasting services - such as direct-to-home (DTH) and cable TV – to a uniform portion of 74 percent.
The Finance Ministry has given its consent to a draft cabinet note which outlines the changes circulated by the Industry Ministry. In addition to DTH and cable TV, the initiative also aims to set FDI capital limit at 74 percent for mobile TV, an area of future growth. Continue reading
Dec. 20 – The Central Government of India has recently made amendments to the list of rules for Unlisted Public Companies (known as the “Unlisted Public Companies Preferential Allotment ”). These rules will come into effect on the date of their publication in the Official Gazette.
The previous list of rules  (hereafter referred to as “said rules”) will have the following changes made. Continue reading
Free app brings India Briefing to your fingertips
Dec. 16 – The brand new Asia Briefing mobile application brings the latest business news and foreign investment insights from India Briefing web site right to your fingertips.
The free app integrates with legal and tax regulatory updates from Dezan Shira & Associates, along with China, Vietnam, Russia, Mongolia Briefings, and 2point6billon.com (for emerging Asia). With hourly updates, it helps you stay on top of Asia’s dynamic investment environments. Continue reading
Dec. 8 – The vendor has to accumulate tax from the payer who has purchased the following items:
- Alcoholic liquor for human consumption
- Tendu leaves
- Timber obtained under a forest lease
- Timber obtained by any mode other than under a forest lease
- Any other forest produce not being timber or tendu leaves Continue reading
Dec. 7 – The value of India’s exports throughout October 2011 were recorded at US$19.87 billion, good for a 10.82 percent increase over the level of US$17.93 billion during October 2010. The increasing value of exports for the period of April-October this fiscal year was US$179.78 billion against US$123.17 billion over the same stage last year, recording growth of 45.96 percent.
India’s monthly imports during October 2011 were recorded at US$39.51 billion, showing a development of 21.72 percent over the level of US$32.46 billion experienced in October last year. The swelling value of imports for the period of April-October this fiscal was US$273.47 billion as against US$208.82 billion over the same period last year, recording an increase of 30.96 percent. Continue reading
Dec. 5 – After depreciating to a record low of 52.73 against the U.S. dollar on November 22, the Indian rupee (INR) rose in value to 51.206 per dollar on Friday to complete the currency’s first weekly advance since October.
The Indian rupee is under great stress as overseas investors are paring their exposure to Asia’s third-largest economy amid international uncertainty and mounting worries over the domestic economy.
On November 21 alone, overseas funds sold more than US$500 million worth of Indian-listed shares over the five trading sessions, reducing net inflows for 2011 to under US$300 million – a tiny sum compared with the record investments of more than US$29 billion experienced in 2010. The rupee has lost more than 10 percent of its value this year, making it one of the worst performing currencies in Asia. Continue reading
Posted in Economy and Politics, Finance, Tax and Accounting
Tagged Currency Fluctuations, India Economy, India Exchange Rate, India Finance, Indian Currency, Indian Rupee, Reserve Bank of India, Rupees, U.S. Dollar