Other Briefings
Indian Services Hit One Year Peak
Sept. 3 – Business for Indian services companies grew at its fastest pace in nearly a year in August as a strong showing of new orders helped companies raise prices, according to an HSBC Markit Business Activity Index. The index took its results from a survey of 400 firms and shows that Indian services business […]
India to Ease Road Project Investment
Sept. 3 – The Indian government has resolved to make investment in its road construction projects easier by streamlining the process by the end of the month. Transport Minister Kamal Nath was quoted by The Economic Times as saying during an infrastructure road show in London this week that various irritant clauses in the concession […]
Maha Ratna Proposal to Give Top State-Owned Companies More Autonomy
Sept. 2 – The government is considering awarding top state-owned companies the Maha Ratna status to give it more freedom to negotiate joint ventures, investments and grow capacity. “My ministry will seek cabinet approval for elevating some of the Nav Ratna companies owned by the government to the Maha Ratna status provided their net profit […]
Tata Indicom Introduces Innovative Fixed Pay Per Call Mobile Concept
Sept. 2 – Tata Indicom, the CDMA mobile service brand operated by Tata Teleservices, recently introduced an innovative concept that would charge clients a fixed rate on a per call basis instead of the current per minute billing. Mobile users availing of Tata Indicom’s services will be charged for every call they make regardless of […]
Indian Economy Recovers by 6.1 Percent
Sept. 1 – India’s economy grew by 6.1 percent from April to June despite the previous quarter’s 5.8 percent growth and the economic crisis stunting its manufacturing and services sectors. According to Delhi’s Central Statistical Organization, mining, electricity and financing sectors performed well during the quarter while there was a registered slowdown in trade, hotels, […]
New Foreign Trade Policy Raises Duty Credit for Exporters
By Chris Devonshire-Ellis Sept. 1 – India’s Ministry of Commerce and Industry recently released its new Foreign Trade Policy for 2009-14, effective immediately. New measures were introduced to counterbalance the effects of the global financial crisis on exporters. Among these are changes under India’s export promotion schemes that would allow exporters to claim higher duty […]
IT Firms Exempted from India’s Labor Laws for 2 Years
Sept. 1 – The Indian government is exempting IT and outsourcing companies from the provisions of its labor law for two years to help firms cope with the challenging business climate, reports The Times of India. The Industrial Employment (Standing Orders) Act 1946 (Central Act 20 of 1946) strictly outlines classification of workers, working hours […]
Rupee-U.S. Dollar Currency Futures Rocket by 1,500 Percent
Aug. 31- Rupee-U.S. dollar future trading has skyrocketed by 1,500 percent, one year after being introduced in the country. According to The Economic Times, the average daily turnover has increased by more than 1,500 percent starting from US$60 million a day in August-September 2008 to the current rate of almost US$1 billion per day in […]
