Other Briefings
New Consolidated FDI Document to be Released Today
Mar. 31- The government is scheduled to release a single, consolidated document on foreign direct investment today. The new document will make it easier for foreign investors to navigate through the intricacies of doing business in the country. Currently, investors have to refer to foreign direct investment rules found in more than 177 Press Notes […]
India to Sign Free Trade Agreement with European Union
Mar. 29 – India’s Commerce and Industry Minister Anand Sharma confirmed government commitment last week to enter into a free trade and investment agreement with the European Union by October. “We are working on it. As far as we are concerned, we have a commitment,” Sharma was quoted by The Hindu as saying when asked […]
Antwerp Port Authority Opens Branch in Pune
Mar. 26 – The Antwerp Port Authority opened its second branch office in Pune as part of its plans to further develop business outside Europe and generate cargo for Antwerp. The first Antwerp Port Authority branch office opened in Mumbai in 2006. The Port of Antwerp is Europe’s second-largest port and its Antwerp Port Authority […]
India to Open Nine US$1 Billion Road Projects for Bidding
Mar. 23 – India is opening nine road projects worth more than US$1 billion each for bidding in the coming months in an effort to improve its underdeveloped infrastructure sector. India is one of the major emerging economies in the region with various untapped business opportunities for foreign investors. The upcoming road projects are expected […]
Advance Tax Collection Increases in Mumbai
Mar. 22 – Advance tax collection for the January-March quarter in the Mumbai region was up by 3.5 percent compared to the same period last year, indicating better profits for corporate India despite the financial crisis. The Mumbai region contributes close to 40 percent of the total advance tax collections in India with the highest […]
Hotel Tax Holiday Extended to July 31
Mar. 19 – The Indian government has extended the five-year tax holiday for hotel projects from March 31 to July 31 in an effort to stimulate development in the industry prior to the Commonwealth Games in October. The five-year tax holiday previously applied to hotels finished and operational from April 1, 2007 to March 31, […]
PWC India Set to Increase Headcount to 10,000 in Next Two Years
Mar. 17 – PriceWaterhouseCoopers India has announced plans to increase staffing levels to up to 10,000 accountants, tax specialists and auditors from the current 6,500 in the next two years. PWC India Chairman Gautam Banerjee announced the move in an interview with the Financial Chronicle. He described India as “a vibrant economy, becoming more complex,” […]
Government Expands List of Operations in Special Economic Zones
Mar. 17 – The list of operations that can be carried out independently by special economic zone authorities has been expanded to include establishing space for banking and warehousing services. Previously SEZ developers were required to get approval for the latter. “It has been decided to further expand the list of default authorized operations…the development […]
