Other Briefings
Government to Implement Stricter Audit for NGO Funding
May 17 – The Finance Ministry has announced measures that will strictly monitor government funding to non-profit organizations as part of efforts to stay within budget during the year. “All ministries and departments of the Government of India should include in their annual report a statement showing the quantum of funds provided to each of […]
New Oversight Body to Enforce FDI Ban on Sensitive Sectors
May 14 – The government will establish an oversight body to prevent foreign direct investments from entering banned sectors. This is to prevent FDI from entering prohibited sectors such as multi-brand retail, gambling, betting, lottery, atomic energy and plantation. “The proposal was discussed at a meeting attended by officials from various ministries including the department […]
India Briefing Releases Guide to Doing Business in India
May 13 – India Briefing has just published a new business guide to India. “Doing Business in India” is the definitive guide to one of the fastest growing economies in the world, providing a thorough and in-depth analysis of India, a comprehensive guide to investing in the country, and key demographics and overviews of the […]
Himachal, Uttarakhand Calls for Renewal of Special Industrial Package
May 13 – Himachal Pradesh and Uttarakhand state authorities are requesting that expired special industrial packages be renewed. Chief Ministers Prem Kumar Dhumal and Ramesh Pokhriyal Nishank submitted a joint letter to Prime Minister Manmohan Singh on Wednesday to request the renewal. The package has successfully enticed investment to the states with its host of […]
Singapore to Speed Up Indian Registration for Generic Drugs
May 12 – Singapore has agreed to make it easier for generic drugs from India with prior regulatory approval in the United States, Canada, the EU, Britain or Australia to enter the country. The fast-track drug registration process is a boost for India’s US$25-billion generic drug industry which will gain access to a large developed […]
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 […]
More Companies Turn to Dispute Resolution Panel
May 10 – More local and multinational companies in India are choosing to apply issues related to cross-border taxation to the newly established dispute resolution panel (DRP) rather than the conventional channels of appeal. Choosing the DRP route has the benefit of limiting the tax department from recovering tax pending a DRP verdict. Moreover, the […]
Reserve Bank of India Revises Pricing Guidelines for Transfer of Shares
May 10 – The Reserve Bank of India has revised pricing guidelines for the transfer of equity instruments from a resident to a non-resident and vice versa in a notification last month. Effective May 4, Foreign Exchange Management Act, 1999 (FEMA) 205/2010-RB will bring about the following changes: In case the shares are listed, the […]
