Other Briefings
India Considers Cutting Export Costs
Apr. 28 – The Indian government is looking for ways to cut costs for exporters to make them more competitive in world markets. This may involve simplifying procedures and transparency issues as well as doing away with cost inefficiencies. The Minister of State for Commerce and Industry Jyotiraditya Scindia is heading a task force to […]
India Raises Interest Rates
Apr. 21 – India’s central bank raised interest rates for the second time in a month to curb double-digit inflation spurred on by the economic stimulus plan. Inflation rates rose to 9.9 percent in March compared to 0.5 percent in September, the highest rate in 17 months. The Reserve Bank of India raised the repo […]
India to Seek Tax Avoidance Agreements with Nine Territories
Apr. 20 – India is considering negotiating tax treaties in nine territories to help curb tax avoidance. The nine identified territories include: Cayman Islands; Bermuda; British Virgin Islands; Gibraltar, all British overseas territories; Guernsey; Isle of Man; Jersey, all British crown dependencies; Netherlands Antilles, an autonomous part of the Kingdom of Netherlands; and Macau, a […]
Foreign Institutional Investors Stakes Capped at 10 Percent Equity
Apr. 16 – Foreign institutional investors (FIIs) wanting to invest in India will be limited to no more than 10 percent equity stake following the rules set out for portfolio investors. The new rule will apply even if the foreign institutional investors are investing through the foreign direct investment route according to the Department of […]
India Blocks Entry of Foreign For-Profit Universities
Apr. 15 – One of the restrictions of India’s newest Foreign Education Providers Bill will block the entry of foreign for-profit universities in the country. Last month, the cabinet approved the Foreign Education Providers Bill that would allow foreign universities to establish campuses in India. The bill also restricts foreign universities from repatriating money to […]
Foreign Investment Promotion Board Calls for Less Undue FDI Scrutiny
Apr. 13 -The Foreign Investment Promotion Board (FIPB) has asked the Department of Revenue to lessen its scrutiny of foreign direct investment proposals to cut delays. Following FIPB rules, a proposal need only to be vetted by the original ministry and any related ministry when recommended by the board. Official sources said that the Department […]
India Reconsidering FDI in Multi-Brand Retail, Hamleys Moves In
Apr. 12 – India is considering opening multi-brand retail to more foreign direct investment with the Department of Industrial Policy and Promotion (DIPP) in talks with the Finance and Agricultural Ministry on the issue. “The move to open up retail sector is part of the government’s strategy to plug gaps in the existing food supply […]
Higher Withholding Tax for those with No Permanent Account Number
Apr. 8 – Beginning this month, tax deducted at source on payments will be higher for taxpayers providing no permanent account number (PAN). The higher withholding tax rate of as much as 20 percent for taxpayers with no PAN is aimed at improving tax management and compliance. Taxes are required to be withheld at withholding […]
