Other Briefings
Maha Ratna Proposal to Give Top State-Owned Companies More Autonomy
Sept. 2 – The government is considering awarding top state-owned companies the Maha Ratna status to give it more freedom to negotiate joint ventures, investments and grow capacity. “My ministry will seek cabinet approval for elevating some of the Nav Ratna companies owned by the government to the Maha Ratna status provided their net profit […]
Foreign Investors Have 18 Months Left to Obtain Tax Breaks
By Chris Devonshire-Ellis Aug. 28 – India’s new tax code may create a window of opportunity for foreign investors wanting to enter the Indian market with reduced tax rates. Currently, special economic zones (SEZ) in the country carry tax breaks of up to 15 years in some sectors, in addition to a number of other […]
FDI Law May be Revised to Block Investment in Sensitive Sectors
Aug. 19 – The National Security Council has submitted a secret report suggesting revisions on the current FDI guidelines to allow the government to stop foreign mergers or takeovers of Indian companies that are considered damaging to national interest, reports The Economic Times. Under the proposed National Security Exception Act foreign investment in sensitive sectors […]
India to Unveil New Foreign Trade Policy
Aug. 18 – India’s Commerce and Industry Minister Anand Sharma recently met with Finance Minister Pranab Mukherjee to discuss the details of the new five-year foreign trade policy (FTP) to be unveiled on August 27. The new FTP is expected to help exporters struggling with the recession in their traditional markets in the United States […]
India-ASEAN Trade Pact to Benefit Bengal
Aug. 18 – Bengal is expected to benefit the most from India-ASEAN Free Trade Agreement signed recently because of its proximity to Thailand and Myanmar. At a recent session on “Foreign Investment-Policy and Promotion,” Joint Secretary of Department of Industrial Policy and Promotion, Mr. Gopal Krishna told Indian Express that since Bengal is the most […]
New Law will Tax Charities Converting to For Profit
Aug. 17 – Under the new direct tax law, a non-profit organization wanting to shift to a for-profit commercial organization will now taxed. A non-profit organization that wants to change to a for-profit organization must pay a tax rate of 30 percent of its net worth. According to The Economic Times, tax would still be […]
India to File WTO Complaint on European Union
Aug. 7 – India is planning to file a World Trade Organization complaint that accuses the European Union of allowing multinational pharmaceutical companies to use the bloc’s strict patent laws to detain Indian generic drugs in transit to developing countries, reports the Wall Street Journal. Since last year, customs officials in the Netherlands and Germany […]
India Looks to Enact Direct Selling Legislation
Aug. 6 – Reports today in The Hindu indicate that India is set to beef up its direct selling legislation in order to further support and develop the industry. The Indian Direct Selling Association (IDSA) has urged the government to formulate a regulatory framework so that the true potential of the sector can be realized. […]
