Other Briefings
India May Soon Allow 100% FDI in Single-Brand Retail
Nov. 1 – Comments made by India’s Commerce and Industry Minister Anand Sharma on Friday imply that India is likely to allow 100 percent FDI in the single-brand retail sector, a move that, if made, would encourage companies such as IKEA to do more in India than simply purchase source materials and intermediate products. IKEA’s […]
India’s Central Bank Seeks Lock-in Period for Hotel, Tourism FDI
Oct. 26 – The Reserve Bank of India has asked the Indian government to impose new regulations to prevent a domestic real estate bubble. The central bank fears that funds being brought into India under the pretext of hotel and tourism investments are not being adequately monitored and are being used to purchase immovable property […]
Indian Gov’t Turns Down Proposal to Reduce Foreign Bank Holdings
Oct. 25 – A proposal by the Reserve Bank of India to reduce the cap on aggregate foreign holdings in banks to 50 percent, down from the current 74 percent, was shot down by India’s Ministry of Finance in a recent meeting. The proposal was submitted by the RBI in August, but officials at the […]
India Scraps Foreign Employment Visa Policy While Introducing Another
Oct. 21 – The Indian government has decided to exchange its current employment visa policy regarding the number of foreign residents a company may employ in favor of a new one. Taking into account domestic complaints of unskilled laborers flooding in from neighboring countries like China on employment visas, India last year imposed a 1 […]
Applying for India Business and Work Visas
Oct. 20 – India’s Ministry of Foreign Affairs has just revamped and clarified a number of outstanding points concerning the issuing of business and work visas to nationals of other countries. We are pleased to be able to provide details of the ministry’s guidelines and comments in this India Briefing complimentary download. For further advice […]
Interest Rates May Rise After Indian Banks Report Strong Q2 Earnings
Oct. 19 – Quarterly profits surged for India’s banks thanks to credit growth and easy money, but higher interest rates may pose a threat in the future. The International Monetary Fund has forecast that demand for loans in India would expand 9.7 percent in the 2010-2011 fiscal year.
Changes to India’s DTC May Mean More Taxes for NRIs
Oct. 15 –India’s Direct Tax Code (DTC), which looks to become fully operational April 1, 2012, may have serious repercussions for non-resident Indians (NRIs) spending significant amounts of time living or doing business in the country. Under the DTC, NRIs staying in India more than 60 days a year and 365 days over four tax […]
India, Bermuda Ink Information Exchange Treaty on Tax Issues
Oct. 8 – India signed its first ever exchange of information treaty with Bermuda, a Caribbean tax haven. The treaty will enable India to more easily attain information regarding banking, ownership, taxes, and other matters like money laundering and black market exchanges occurring outside the country’s borders. “There is a specific provision for providing banking […]
