Other Briefings
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. […]
India Getting Serious on Road Infrastructure
By Vikas Srivastava Jun. 17 -The government of India is now getting serious on the development of the infrastructure sector particularly on the national highways and state highways. The government recently increased toll taxes paid on highways, bridges, tunnels and bypass roads including two- lane highways. Local commuters are now devoid of availing the monthly […]
IKEA Postpones Entry to India
Jun. 12 – Swedish company, IKEA, says it is postponing plans to open in India until the country allows full foreign ownership of single-brand retailers. Talks between the company and the Indian government to lift restrictions have fallen through and led to the cancellation of the US$1 billion plan to open 25 showrooms nationwide. “As […]
Infosys Wins US$355 Million Deal from Telstra
Jun. 10 – India’s top software services firm, Infosys Technologies, won an IT outsourcing contract worth US$355 million from Telstra Corp. along with U.S. firm and Hewlett-Packard unit, EDS. The company will provide the major Australian phone company’s application development and maintenance services in the next five years. U.S. technology firm IBM will also be […]
India Protests Fake Chinese Drugs Labeled “Made in India”
Jun. 9 – New Delhi has lodged a protest to the Chinese mission in Nigeria and China’s foreign trade ministry because of a large seizure of fake anti-malarial generic pharmaceuticals labeled “Made in India” were actually found to have been produced in China The findings were reported by the National Agency for Food and Drug […]
