Other Briefings
LG to Expand Manufacturing in India
May 12 – Major Korean consumer electronic brand LG has plans to ramp up its manufacturing capacities and product exports from India for its global operations to cut on costs. LG India is looking at exporting products to mature markets eventually growing its exports from 15 percent of turnover to 30 percent by 2012. The […]
Developing Countries Seen as a Market for Exports
May 11 – India is looking into relying more on developing countries to offset slowing export demand from the United States, Japan and Europe markets hit by the global downturn. Currently, 40 percent of India’s exports go to developing countries and the oil-producing countries like UAE are also strong buyers. The Federation of Indian Export […]
Jet Airways to Begin Low-Fare Domestic Service
May 8 – Jet Airways, India’s second-largest airline, is now offering cheaper tickets on selected domestic routes to attract business travelers. The new no-frills service called Jet Airways Konnect begins today with 19 routes. “It will be offered to 38 destinations where Jet Airways flies and where JetLite does not normally operate,” Chief Commercial Officer […]
Gov’t Planning to Change Audit System
May 7 – The Indian government is planning to change to a new accounting system for its annual financial statements in five years time to accrual-based accounting for transparency. The new system will allow the government to record transactions although cash will change hands later on. This will be more effective in showing the government’s […]
Tax on Sedans, SUVs May Be Removed
May 6 – India’s Ministry of Heavy Industries is recommending that additional excise taxes on Sedans and SUVs like Ford Fiesta, Maruti SX4, Hyundai Verna, Honda Accord, Scorpio and Innova may be cut to boost demand in the auto industry. Last year, the government meted the additional excise duty of Rs 15,000 for vehicles above […]
Tata Motors Receives 203,000 Orders for Nano Car
May 5 – Indian truckmaker, Tata Motors, has received 203,000 orders for the world’s cheapest car, the Nano, worth close to 25 billion rupees or US$501 million. The number is overwhelming and more than double of what the Mumbai-based company projected. According to Tata Motors, the deliveries will begin in July until completion during the […]
India May Implement Anti-Dumping Duty for Auto Parts
May 4 – India may implement a provisional anti-dumping duty for imports of front axle beam and steering knuckles used to manufacture commercial vehicles as a precaution for the local industry against cheaper Chinese shipments entering the country. The duty would cost from US$0.50 per kg. to US$0.69 per kg. The Directorate General of Anti-dumping […]
Problems Driving GDP Growth? Hold an Election
Apr. 29 – As countries around the world suffer with the global financial crisis, a little known economic factor has crept into view in India as a means to drive up your GDP, holding national elections. The 15th General Elections in the country are being perceived as a counter cyclical event that is helping to […]
