Other Briefings
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. […]
India to Enact to Foreign Investment Law
Aug. 6 – The Indian government has proposed to enact a new law on foreign direct investment in India, removing the distinctions between the categories of overseas funds that flow into the country. The Foreign Direct Investment Act which will mainly concentrate on removing the distinction between various types of overseas fund flows like portfolio […]
Bank Employees Begin Strike Today
Aug. 6 – Employees of India’s private, overseas and state banks numbering more than 900,000 will begin their two-day strike today. An estimated 26 state-run banks, 10 private banks and eight foreign banks will be affected when its workers join the strike organized by the United Forum of Bank Unions (UFBU). “We seek expedition of […]
No Changes in Media FDI Limits
Aug. 4 – The Indian government will not be changing the limit on foreign direct investment in the banking and media sectors, reports the Wall Street Journal. Indian law only allows for 74 percent foreign direct investment in private banks and 20 percent in state-run banks. In the media industry, businesses like newspapers and periodicals […]
