Other Briefings
Proposal Suggests FDI in Multi-Brand Retail by 2015
Aug. 19 – One of India’s top ranking business schools said in a report that the government should give local businesses five years to develop before opening multi-brand retail to foreign direct investment. The report made by Birla Institute of Management Technology (BIMTECH) said “…a breathing space of five years till 2015 should be given […]
New Regulations on Digital Signature Registration Released
Aug. 18 – India’s Income Tax Department has released new regulations on registering digital signatures for filing income tax returns effective beginning today. The department has made revisions on its Digital Signature Certificate (DSC) registration process. The authorized signatory for the DSC has the option to follow the existing procedure or the new procedure highlighted […]
India to Sign Media Production Treaty with Canada in 2011
Aug. 17 – Canada and India are expected to sign a film and new media co-production treaty that will give India access to the North American market. The agreement will be formalized at the 12th International Indian Film Academy Awards in Toronto next year. “At some point this fiscal, we are expecting our office to […]
India Plans to Streamline Arbitration Mechanism
Aug. 16 – India’s Securities and Exchange Board of India (Sebi) has instructed stock exchanges to ease the arbitration process for disputes involving a client and a member. Sebi is proposing that all exchanges must have their own panel of qualified arbitrators depending on the amount of disputes. An arbitrator must have experience in the […]
Authorities to Revise Export Procedures
Aug. 13 – Authorities are expected to simplify export procedures and issue new incentives to help exporters cope with lower global demand. The Commerce and Industry Ministry will issue the procedural changes to the policy that aims to cut down on costs and transaction time. “We are working out the allocations based on the funding […]
India Considers Opening the Private Banking Sector
Aug. 12 – The Reserve Bank of India has released a discussion paper that talks about possibly opening the private banking sector to new players. “The RBI clearly expresses its intent to expand the banking reach in the country while focusing on maintaining financial stability,” said CII director-general Chandrajit Banerjee. This will make bank capital […]
Minimum Alternate Tax Not Applicable to Companies with No Establishment in India
Aug. 11 – A verdict made by the Authority for Advance Ruling (AAR) in July has confirmed that minimum alternate tax (MAT) is not applicable to foreign companies with no permanent establishment in the country. The verdict was made regarding the case of Mauritius-based Praxair Pacific when it wanted to verify with AAR if the […]
India to Resolve Stalled South Korean Steelmaker Project
Aug. 10 – Authorities have committed to help solve the stalled South Korean Posco project due to violations of the Forest Rights Act. The US$12 billion steel project located in eastern India’s Jagatsinghpur, Orissa is the largest foreign direct investment project made in the country to date. Work on the project was temporarily stopped after […]
