Other Briefings
Orissa State Wants GST Deferred to 2011
Jan. 7 – The east coast state of Orissa has requested that the Goods and Services Tax (GST) set to be implemented in April 1 be deferred to April 1,2011 and its Purchase Tax on foodgrain continued instead. Local officials say the state is not ready to adopt the new GST. “We are not at […]
New Policy to Turn Delhi into IT Hub
Jan. 5 – A recently approved industrial policy for New Delhi aims to consolidate business in the capital to turn it into a high-tech, knowledge-based service sector and IT hub. Two special economic zones will initially be set up in Baprola, one for gems and jewelery and the other for IT and information technology enabled […]
Indian Bank Ties Up with UK Trade and Investment
Jan.5 – The country’s second largest bank, ICICI Bank will collaborate with the UK Trade and Investment to assist Indian companies wanting to enter the United Kingdom market. “Through this initiative, we envision further awareness to the Indian businesses by means of knowledge and counseling sessions,” ICICI Bank Managing Director and CEO, Chanda Kochhar said […]
Commerce Ministry to Confirm Tax Breaks for SEZs
Jan. 4 – India’s Commerce Ministry will consult with the Finance Ministry to confirm the tax breaks available to special economic zones (SEZs) reports The Economic Times. This is to clarify the security of existing SEZ tax breaks for developers despite the draft of the direct taxes code proposing to cut down on tax benefits […]
India’s Unique Chance to Finally Stand Up
Op/Ed Commentary: Chris Devonshire-Ellis Dec. 31 – As we look back on 2009, the year in India ends with on an upbeat note. That is some relief after the tragedy of the Mumbai terror attacks at the end of last year, and a strong signal of the resilience of both the nation and its people. […]
Indian Finance Minister: Economy Could Grow by 8%
Dec. 23 – Finance Minister Pranab Mukherjee said today that the Indian economy could grow by 7.5 to 8 percent during the current financial year. “The Mid Year Review projected a growth rate of 7.75 percent, but it would be more appropriate to say 7.5 to 8 percent”, Mukherjee said, addressing the 104th annual session […]
India to Provide Subsidies for Wind Power Projects
Dec. 18 – The government will offer Rs3.8 billion (US$81 million) in generation-based subsidies for wind power projects contributing power into the national grid until 2012. The Ministry of New and Renewable Energy said wind power projects will be paid 0.5 rupee (US$0.010) per unit of power fed into the power grid with a limit […]
Italy Suggests Routes, Facilities for Indian Trade
Dec. 17 – Italian Minister for Economic Development said it would consider creating preferred shipping routes exclusively for Indian trade. A collaboration agreement is in the works to link the ports of Venice with Mumbai and Genoa with Chennai with the aim of making Italy the gateway for Indian products bound for the European and […]
