Other Briefings
Foreign-Owned Indian Assets May Be Excluded from Capital Gains Tax
Dec. 9 – The Federation of Indian Chambers of Commerce and Industry has suggested that transactions in respect of Indian assets of foreign companies are to be excluded from capital gains tax. In submissions to Revenue Secretary P.V. Bhide on Tuesday, the FICCI president, Harsh Pati Singhania, suggested that certain transactions of foreign companies in […]
India to Drop Re1, Rs2 Notes from Circulation
Dec. 9 – India will soon drop Rs1 and Rs2 notes from circulation to be replaced with coins citing high printing costs and short lifespan of the latter. “The Reserve Bank has informed that in view of the short life span of the lower denominations notes of Re1, Rs2, and Rs5 and the high cost […]
India Open to FTA with United States
Nov. 25 – Prime Minister Manmohan Singh said that India is willing to consider a free trade pact with the United States similar to the one it already has with Association of Southeast Asian Nations (ASEAN). “I don’t mind exploring the possibility for a free trade agreement with the United States,” Mr. Singh said during […]
Stapled Chinese Visas Not Valid for Travel
Nov. 13 – India’s Foreign Ministry has announced that stapled Chinese visas for Indian travelers will not be allowed to exit the country and advises applicants to verify how their visas will be attached. Some Chinese embassies and consulates have continued to issue stapled visas for Indians coming from Arunachal Pradesh, Jammu and Kashmir despite […]
India Getting Tough on Business Visa Issuance
Oct. 28 – India’s Ministry of Commerce and Industry has announced that foreign workers in the country on business visas must leave the by the end of the month or on the expiry of their visas whichever is earlier to return to their home country and apply for an employment visa there. Indian consulates will […]
Coke Wins in Landmark Indian Trademark Case
Oct. 22 – The Delhi High Court has asked the Indian conglomerate Bisleri International to halt the sale of their mango-flavored soft drink under the trade name Maaza in India, giving Coca-Cola a victory in a trademark case. The issue has been fought for more than a year now with the Delhi High Court allowing […]
Foreign Investment to India Passes US$100 Billion Mark
Oct. 15 – India’s Department of Industrial Policy and Promotion says that foreign direct investment (FDI) to India from 2000 until July this year has already passed the US$100 billion mark. In total, FDI inflows during that period reached US$100.33 billion. In the first four months of this year alone FDI amounted to US$10.49 billion […]
Cartels to be Reined in Under New Legislation
Sept. 7 – The Competition Commission of India (CCI) has implemented new legislation that will encourage cartel members to expose other members in exchange for lesser penalties. Currently, the penalties for collective price fixing in India includes fines of up to three times the profit or ten percent of turnover. Depending upon the significance of […]
