Other Briefings
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 […]
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, […]
Qualcomm to Enter Broadband Wireless Auction in India
Mar. 18 – Qualcomm announced on Wednesday that it will be entering India’s upcoming auction in an effort to gain access to the country’s broadband wireless spectrum. India’s government plans to auction off two slots of bandwidth set aside for wireless technology during the auction with bidding for one slot starting at US$386 million.
Indian Companies Forecast to Create 1 Million Jobs
Mar. 11 – Indian companies are expected to resume hiring from April to June with the organized sector forecast to create one million jobs by 2011 backed by the strength of the improving economy according to two global employment trend surveys. According to the Employment Outlook Survey compiled by the human resources consulting firm Manpower, […]
New Construction Services Tax to Increase Real Estate Prices
Mar. 9 – A proposal to implement a construction tax under the new services tax will invariably hike prices for real estate projects still under construction or pending approval from authorities. The tax would apply to the construction of complex service or commercial or industrial construction services as well as services offering premium prices based […]
New Delhi Best City for Living
Mar. 9 – The Confederation of Indian Industries has ranked New Delhi as having the best quality of life for its residents among all cities in the India based on their latest “Liveability Index.” After New Delhi, the next best cities to live in are Mumbai, Chennai and Bangalore. The survey looked at 37 Indian […]
India Earmarks US$400 million for Rural Broadband
Mar. 4 – The Indian Government is to spend US$400 million over the next three years to enable broadband to reach more than 265,000 rural Indian villages, making the country one of the most densely interconnected populations on the planet. The formation of a Group of Ministers (GoM) to monitor and review the implementation of […]
Air India Gets Government Refinancing
Feb. 19 – The Indian government approved an equity infusion of US$177million in two equal monthly installments to the National Aviation Company of India Ltd, the holding company for Air India. NACIL is currently facing severe financial losses. Costly legacy assets, a weakening revenue stream and high cost structure are resulting in rising liabilities. The […]
