Other Briefings
New Hotels to be Given 5 Year Tax Holiday
Jan. 27 – To encourage more hotels to open prior to the Commonwealth Games, India is giving a five-year tax holiday for new hotels completed in the national capital region before March 31. The rule will apply to 2, 3 and 4 star hotels and exclude 5 star hotels. An estimated 100,000 tourists are expected […]
Road Project to Upgrade Highways in 5 States
Jan. 12 – India has approved road projects worth a total of US$ 1.36 billion to upgrade highways in five states. The projects cover the six-laning of 435 kilometers in Rajasthan, Maharashtra and Gujarat and the four/six laning of 122.87 kilometer stretch on Maharashtra-Goa and Goa-Karnataka border.
New National Manufacturing Policy Out by June
Jan. 11 – India will release a national manufacturing policy in June to attract more local and foreign investment in the sector. The Center will also be taking other initiatives along with states to promote manufacturing sector, Commerce and Industry Minister Anand Sharma said during the Economic Times Award function reports the Press Trust of […]
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 […]
India Raises Export Duties on Iron Ore by 5 Percent
Dec. 29 – In an attempt to curb exports and feed growing domestic demand for iron ore, the Indian government has increased the export duty on iron ore by 5 percent. According the Indian Finance Ministry, the government has raised export duty on iron ore lumps to 10 percent from 5 percent and on iron […]
Garment Exports Drop 17 Percent in October
Dec. 15 – India’s apparel exports declined by 17 percent in October as it lost market share to China, Vietnam and Bangladesh due to the higher cost of fabrics in the local market. Indian apparel exports reach US$603 million in October with exporters complaining of higher cotton prices that has inevitably hiked the cost of […]
Bugatti Supercar to Launch in India
Dec. 15 – Volkswagen will soon launch the legendary French car Bugatti in India, probably the fastest and most expensive car to be released in the country. The Bugatti Veyron, which can reach speeds of more than 400 kilometers per hour, will cost between US$1.2 million and US$2.5 million when it hits the Indian roads.
India Successfully Decodes Human Genome
Dec. 10 – India has successfully decoded the human genome locally making it part of the only six countries in the world to do so. Other countries who have been able to accomplish the feat are the United States, United Kingdom, China, Canada and South Korea. India’s Council of Scientific and Industrial Research (CSIR) says […]
