Other Briefings
Retail Sector Not Open to Reforms
Jul. 17 – India has indicated no plans to reform its retail industry in efforts to safeguard the second largest source of jobs in the country. India’s retail market remains untapped and closed to foreign investors. AT Kearney’s Global Retail Development Index last year ranked it as the second most attractive emerging market. Minister of […]
India, ASEAN to Settle Free Trade Agreement
Jul. 15 – India’s proposed free trade agreement with Association of Southeast Asian Nations (ASEAN) is set to reach its final stages when both meet in Manila this Thursday. The country’s FTA with the organization has been delayed for years because of tariff issues and is scheduled for implementation beginning January 1, 2010. If it […]
Government Forecasts Increased Tax Revenue
Jul. 14 – According to a senior finance official, the government expects tax revenue to increase to 100 billion- 120 billion rupees this year because of the country’s expanding economy. Government measures like the stimulus package, limiting the scope of the personal income tax and easing monetary policy is also expected to spur more spending. […]
Education Sector to Allow Foreign Investors
Jul. 10 – The Indian government is considering opening the education industry for foreign education companies and other cross-border players, reports the Economic Times. “We have to be mindful of the risks involved regarding the entry of ‘diploma mills’ and unscrupulous for-profit providers,” said Kapil Sibal, human resource development minister. Mr. Sibal was at the […]
Short Eats: July 9
Jul. 9 – Short Eats – a roundup of small tasty bites of Indian news straight from the nation’s dailies. India to Launch Nuclear Submarine India will showcase its naval power this July by launching its first indigenous nuclear submarine by the end of the month. The vessel is based on the Russian Akula-I class […]
Toshiba Announces Joint Venture Deal with JSW Group
Jul. 9 – Japanese tech company, Toshiba, has agreed to a joint venture deal with JSW Group to build a US$160 million power equipment manufacturing plant in the country’s southern Chennai City, Tamil Nadu within five years. The JSW Group is under the O. P. Jindal Group and manages businesses in steel, energy, mining, aluminum, […]
New Direct Tax Proposal to be Released within 45 Days
Jul. 8 – India’s Finance Minister Pranab Mukherjee indicated during his Union Budget speech last Monday that a new Direct Taxes Code will be released within 45 days to streamline the tax structure. The code will finally address the problems of the currently used Income Tax Act of 1961. When the new code is released […]
India Unveils Union Budget
Jul. 7 – India released the budget for the fiscal 2009-10 yesterday at Parliament in a speech by Union Finance Minister, Pranab Mukherjee. The speech focused on funding projects that would improve the country’s infrastructure. India Infrastructure Finance Company and banks would commit to extend funding for Public Private Partnership (PPP) projects in the next […]
