Other Briefings
Himachal, Uttarakhand Calls for Renewal of Special Industrial Package
May 13 – Himachal Pradesh and Uttarakhand state authorities are requesting that expired special industrial packages be renewed. Chief Ministers Prem Kumar Dhumal and Ramesh Pokhriyal Nishank submitted a joint letter to Prime Minister Manmohan Singh on Wednesday to request the renewal. The package has successfully enticed investment to the states with its host of […]
Singapore to Speed Up Indian Registration for Generic Drugs
May 12 – Singapore has agreed to make it easier for generic drugs from India with prior regulatory approval in the United States, Canada, the EU, Britain or Australia to enter the country. The fast-track drug registration process is a boost for India’s US$25-billion generic drug industry which will gain access to a large developed […]
Retail FDI May Be Allowed with Back-End Investment
May 11- Authorities are said to be considering foreign direct investment in multi-brand retail if foreign retailers invest heavily on back-end infrastructure like warehousing and cold storage. The Department of Industrial Policy and Promotion paper on FDI in retail may include a provision that requires global retailers to put a significant part of their investment […]
More Companies Turn to Dispute Resolution Panel
May 10 – More local and multinational companies in India are choosing to apply issues related to cross-border taxation to the newly established dispute resolution panel (DRP) rather than the conventional channels of appeal. Choosing the DRP route has the benefit of limiting the tax department from recovering tax pending a DRP verdict. Moreover, the […]
Reserve Bank of India Revises Pricing Guidelines for Transfer of Shares
May 10 – The Reserve Bank of India has revised pricing guidelines for the transfer of equity instruments from a resident to a non-resident and vice versa in a notification last month. Effective May 4, Foreign Exchange Management Act, 1999 (FEMA) 205/2010-RB will bring about the following changes: In case the shares are listed, the […]
New Liquidation Process for Troubled Firms to be Released
May 7 -The Indian government has announced plans to formulate an exit scheme that will make it easier for troubled companies to go through the liquidation process. The mechanism is scheduled to be ready in less than a year and will serve as a special purpose vehicle (SPV) that will allow authorities to centrally gather […]
India Against Moves to Link Trade with CSR Standards
May 6 – India is trying to block moves to use an international standard on corporate social responsibility (CSR) as a basis for refusing exports from emerging nations. The implementation of such a rule will inevitably increase business costs for companies from developing countries as well as affect global competitiveness. “We want to ensure that […]
French Retail Giant to Enter Indian Market
May 5 – Europe’s largest retailer, Carrefour S.A, is planning to enter the Indian market through wholesale superstores slated to open later this year. Indian law does not allow full foreign ownership in the retail business so the company is currently looking for a local partner to open stores under the Carrefour brand. “We have […]
