Other Briefings
New Committee to Evaluate Investment Plans in Sensitive Sectors
Jun. 29 – India is setting up a new committee that will evaluate the sensitive sector investment plans of local companies with foreign shareholders to confirm if a firm is truly Indian-owned. The panel will study plans to invest in sensitive sectors such as telecommunications, aviation and single-brand retail looking at a company’s shareholding pattern […]
India to Impose Service Tax on Plane Tickets in July
Jun. 28 – India will soon impose a 10 percent service tax on local and international airfares of Rs. 100 and Rs. 500 respectively whichever is less beginning July 1. According to the Department of Revenue, 10 percent of the gross value of the ticket or Rs. 100 per journey, whichever is less will be […]
Insurance Sector May Increase Cap on FDI
Jun. 23 – India is considering lifting its foreign direct investment cap on the insurance sector from 26 percent to 49 percent according to Finance Minister Pranab Mukherjee. “We have committed to allow 49 percent and the necessary legislation is pending before the House, as the leg process will be completed it will be done…in […]
India’s Bio-Tech Industry Grows by 17 Percent
Jun. 22 – The country’s bio-tech industry grew by 17 percent to US$3 billion during the 2009-10 financial year compared to the previous period, with the bio-pharma market contributing to the majority of growth. According to a survey conducted by the Association of Biotechnology-led Enterprises and the BioSpectrum journal, the bio-pharma made up 60 percent […]
Commerce Ministry Proposes Increased FDI in Defense Sector
May 18 – India’s Commerce and Industry Ministry has released a discussion paper that suggests increasing foreign direct investment in the defense sector from 26 percent to 74 percent to improve manufacturing and technology transfer in the country. The response to the proposal has been varied, with some suggesting an increase of 49 percent instead […]
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 […]
Finance Ministry Officials Propose Tax Reforms to Services Sector
May 3 – Finance ministry officials called for reforms to India’s tax structure for services like shipping, aviation and telecom to make them competitive. In a working paper titled, “Policy for India’s Services Sector,” finance ministry senior economic adviser H.A.C. Prasad and additional economic adviser R. Sathish said that the government should rationalize the tax […]
Ford to Expand Figo Car Production in India
Apr. 23 – Ford plans to expand production of the Figo compact car in its Chennai plant in response to strong consumer demand. The American car company is planning to add 700 more people to its workforce. “We do need to ramp up production to cope with the increasing demand for Figo and so we […]
