Other Briefings
India to File WTO Complaint on European Union
Aug. 7 – India is planning to file a World Trade Organization complaint that accuses the European Union of allowing multinational pharmaceutical companies to use the bloc’s strict patent laws to detain Indian generic drugs in transit to developing countries, reports the Wall Street Journal. Since last year, customs officials in the Netherlands and Germany […]
India Looks to Enact Direct Selling Legislation
Aug. 6 – Reports today in The Hindu indicate that India is set to beef up its direct selling legislation in order to further support and develop the industry. The Indian Direct Selling Association (IDSA) has urged the government to formulate a regulatory framework so that the true potential of the sector can be realized. […]
India to Enact to Foreign Investment Law
Aug. 6 – The Indian government has proposed to enact a new law on foreign direct investment in India, removing the distinctions between the categories of overseas funds that flow into the country. The Foreign Direct Investment Act which will mainly concentrate on removing the distinction between various types of overseas fund flows like portfolio […]
Bank Employees Begin Strike Today
Aug. 6 – Employees of India’s private, overseas and state banks numbering more than 900,000 will begin their two-day strike today. An estimated 26 state-run banks, 10 private banks and eight foreign banks will be affected when its workers join the strike organized by the United Forum of Bank Unions (UFBU). “We seek expedition of […]
No Changes in Media FDI Limits
Aug. 4 – The Indian government will not be changing the limit on foreign direct investment in the banking and media sectors, reports the Wall Street Journal. Indian law only allows for 74 percent foreign direct investment in private banks and 20 percent in state-run banks. In the media industry, businesses like newspapers and periodicals […]
Indian Lending Rate the Lowest in a Decade
Jul. 28 – As expected, the Reserve Bank of India yesterday kept its base lending rate at 4.75 percent, the lowest in a decade. A spokesman for the bank stated: “It is worth reiterating that the Reserve Bank will maintain an accommodative monetary stance until there are definite and robust signs of recovery.” The news […]
India Unveils Union Budget
Jul. 7 – India released the budget for the fiscal 2009-10 yesterday at Parliament in a speech by Union Finance Minister, Pranab Mukherjee. The speech focused on funding projects that would improve the country’s infrastructure. India Infrastructure Finance Company and banks would commit to extend funding for Public Private Partnership (PPP) projects in the next […]
New Foreign Trade Policy to be Announced in August
Jun. 15 – The Indian government is set to release a new comprehensive foreign trade policy in August with an emphasis on trade stimulus in addition to giving sops to exporters. Moreover, the Commerce and Industry Ministry is considering rules that will directly increase exports. Officials are also discussing ways to improve foreign trade with […]
