Other Briefings
IT Tax Benefits May be Extended for a Year
Jul. 2 – The government may extend tax exemptions to March 31, 2010 for the exports earnings of information technology units doing business in the Software Technology Parks of India (STPI) in a bid to help the country’s sliding export market. According to the Times of India, IT businesses working in the STPI have been […]
FDI Cap on Radio, TV to be Raised
Jun. 29 – The Indian government is contemplating raising the foreign direct investment (FDI) cap on FM radio broadcasters and direct-to-home TV service providers. The FDI limit on broadcasters is to be changed from 20 percent to 24 percent and 49 percent to 74 percent for television service providers, according to the proposal submitted by […]
Infosys CEO to Head First National ID System
Jun. 26 – The co-founder of Infosys Technologies has resigned from his post to head the agency tasked to gather data from citizens for the first national identification system. Nandan Nilekani will lead the National Unique Identification Authority as chairperson with the monumental task of organizing data from the nation’s more than 1 billion citizens. […]
India Road Infrastructure to Develop Tenfold, Foreign Investment Welcome
Rohit Patwardhan Jun. 25 – Kamal Nath, the recently appointed as minister of road transport and highways, has publicly acknowledged that India’s roads are a mess says that opening up the sector for massive investment and infrastructure spending as a key area for development. Noting that currently India builds just two kilometers of highway every […]
India Considers Tax Incentives In Energy Sector
Jun. 24 – The Indian government is considering a series of tax holidays, including a seven year tax break, to assist with the development of exploration in its oil and gas sectors and lessen its dependence on imports. Currently three quarters of India’s oil and gas consumption is imported, and the decision to approve tax […]
Minister to Propose New Tax Breaks for Tourism Industry
Jun. 23 – India’s Tourism Minister, Kumari Selja, will be submitting a set of proposals for industry tax breaks and exemptions to the Finance Minister, Pranab Mukherjee later this week. The proposal includes a ten-year tax break for new hotels, service tax and excise duty exemptions and allowing hotels to be considered as infrastructure along […]
Michelin Tires to Invest US$1.48 Billion in India
By Vikas Srivastava Jun. 19 – The world’s second largest tire manufacturer, Michelin, is opening its own manufacturing unit in Tamil Nadu and investing US$1.48 billion in the next 10 years. The company’s decision to invest in a new manufacturing unit resulted from an unsuccessful joint venture deal with Delhi-based, Apollo Tires, where the French […]
India to Develop Investment Regions for Petroleum and Chemical Industries
By Vikas Srivastava Jun. 18 – The government of India is implementing more initiatives to attract more foreign direct investment in its petroleum, chemicals and petrochemical sectors by establishing specific investment regions for this. The Petroleum, Chemicals and Petrochemical Investment Regions (PCPIRs) will be established in the state of West Bengal, Andhra Pradesh and Gujarat. […]
