Other Briefings
India Against Moves to Link Trade with CSR Standards
May 6 – India is trying to block moves to use an international standard on corporate social responsibility (CSR) as a basis for refusing exports from emerging nations. The implementation of such a rule will inevitably increase business costs for companies from developing countries as well as affect global competitiveness. “We want to ensure that […]
French Retail Giant to Enter Indian Market
May 5 – Europe’s largest retailer, Carrefour S.A, is planning to enter the Indian market through wholesale superstores slated to open later this year. Indian law does not allow full foreign ownership in the retail business so the company is currently looking for a local partner to open stores under the Carrefour brand. “We have […]
Assocham Recommends 49 Percent Initial FDI in Defense Sector
May 4 – The Associated Chambers of Commerce and Industry of India (Assocham) is recommending that only up to 49 percent foreign direct investment be initially allowed for the defense equipment sector. The defense industry proposed earlier that 100 percent foreign direct investment be allowed in the sector to stimulate domestic manufacturing. Assocham advises that […]
India’s Mergers and Acquisitions Activity Up by 33 Percent
Apr. 29 – India’s mergers and acquisitions activity during the first quarter of the year increased by 33 percent with total transaction value estimated at US$14 billion, one of the best performing quarters in terms of value, according to a report by an independent mergers and acquisitions intelligence service. Inbound and local mergers and acquisitions […]
New Delhi to Launch Airport Express
NEW DELHI, Apr. 27 – As the city prepares for the Commonwealth Games in October, the impact of the huge international athletics event on its infrastructure is already taking effect as it readies the launch of its new airport express. Next month, the government will test the first set of trains purchased from Spanish-based rail […]
World Bank Raises India’s Shareholder Status
Apr. 27 – The World Bank Group increased India’s shareholder status from 2.77 percent to 2.91 percent on Sunday, making it the seventh largest shareholder in the International Bank for Reconstruction and Development (IBRD). The shift in voting power reflects the South Asian nation’s growing clout and the bank’s decision to redistribute shareholdings in favor […]
IMF: India Becoming Better Integrated With Asia
Apr. 26 – India is incorporating more with the rest of Asia and will play a major role in Asia’s growth, said top officials from the the International Monetary Fund. IMF Director, Asia Pacific Department, Anoop Singh said that the fund forecasts that Asia will maintain its lead in overall global recovery and grow an […]
Report: Foreign Service Recipients Account for Majority of Tax Evasion Cases
Apr. 26 – Local firms receiving services from overseas firms accounted for a quarter of service tax evasion during the period 2008-09, according to a Comptroller and Auditor General (CAG) report. Current tax regulations dictate that the receiver of services in India must pay service tax for services received from a non-resident with no office […]
