Other Briefings
Indian Stocks Hit Three-Week High
Jun. 3 – Indian stocks rose for the second straight day on Thursday, hitting a three-week high, as expectations remain optimistic that the country will continue to post robust economic growth in the near to long-term future. The Bombay Stock Exchange’s Sensitive Index rose 1.65 percent, or 276.43 points, up to an end-of-the-day trading value […]
India, China Business Reps. Sign MoUs
May 31 –Representatives from leading Indian and Chinese businesses and establishments signed several progressive memorandums of understanding today on the sidelines of Indian President Pratibha Patil’s visit to Shanghai. Chinese and Indian delegates from top companies and institutions like Aargus, GMR Energy, Infosys, SEPCO, Wipro, and Shanghai’s Fudan University were in attendance, among many others. […]
DLF Wants Special Economic Zone in Kolkata
May 28 – India’s largest real estate developer, Delhi Land and Finance (DLF), has reportedly reentered discussions with India’s commerce ministry regarding the possibility of restarting its plan for a special economic zone in Kolkata. DLF scrapped four SEZ projects last June, including the one in Kolkata, when it was determined that there wasn’t sufficient […]
Transactions Abroad Taxable in India
May 28 – A verdict recently passed by the Income Tax Appellate Tribunal (ITAT) in Mumbai stated that payments made to foreign entities for services rendered abroad can still be taxed in India if the deal can be linked back to the country. “It is no longer necessary that, in order to attract taxability in […]
Indian Ministries to Support 100 Percent FDI in Multi-Brand Retail
May 25 – India’s Commerce and Industry Ministry is likely to support a move to allow 100 percent foreign direct investment in multi-brand retail that could open the market further for multinational companies like Tesco and Wal-Mart. The proposed paper will recommend strict domestic sourcing requirements and require investments in backward linkages with the official […]
India Trade Pact with ASEAN Members Applicable by August
May 24 – India’s trade pact with seven member countries of the Association of Southeast Asian Nations (ASEAN) will begin to take effect in August. The India-ASEAN trade pact was signed last year but was initially only adopted by ASEAN members Singapore, Thailand and Malaysia in January. The other seven members of the group will […]
India Set to Overhaul Labor Law
May 21 – The Indian government has announced plans to revamp its labor law to make it easier for both employees and employers to settle disputes. This may mean that the new law will provide more avenues for resolving labor grievances out of court. Companies with a minimum of 20 employees may be required to […]
India, United States Settle Tax Profit Dispute
May 20 – A tax dispute between India and the United States has been resolved with India agreeing to tax 17.5 percent of the profits earned by the Indian subsidiaries of U.S. companies in 2004-05. Previously, India wanted to implement a 25 to 30 percent tax on profits of IT services and research arms of […]
