Other Briefings
India Against Moves to Link Trade with CSR Standards
May 6 – India is trying to block moves to use an international standard on corporate social responsibility (CSR) as a basis for refusing exports from emerging nations. The implementation of such a rule will inevitably increase business costs for companies from developing countries as well as affect global competitiveness. “We want to ensure that […]
French Retail Giant to Enter Indian Market
May 5 – Europe’s largest retailer, Carrefour S.A, is planning to enter the Indian market through wholesale superstores slated to open later this year. Indian law does not allow full foreign ownership in the retail business so the company is currently looking for a local partner to open stores under the Carrefour brand. “We have […]
Assocham Recommends 49 Percent Initial FDI in Defense Sector
May 4 – The Associated Chambers of Commerce and Industry of India (Assocham) is recommending that only up to 49 percent foreign direct investment be initially allowed for the defense equipment sector. The defense industry proposed earlier that 100 percent foreign direct investment be allowed in the sector to stimulate domestic manufacturing. Assocham advises that […]
India’s Mergers and Acquisitions Activity Up by 33 Percent
Apr. 29 – India’s mergers and acquisitions activity during the first quarter of the year increased by 33 percent with total transaction value estimated at US$14 billion, one of the best performing quarters in terms of value, according to a report by an independent mergers and acquisitions intelligence service. Inbound and local mergers and acquisitions […]
Project Offices Now Permitted to Open Foreign Currency Accounts
Apr. 28 – The Reserve Bank of India has revised Foreign Exchange Management Regulations to permit authorized dealer banks to allow project offices established by foreign investors in India to maintain non-interest bearing foreign currency accounts. The change will make it easier to implement projects in the country when in terms of procurement matters and […]
India Considers Cutting Export Costs
Apr. 28 – The Indian government is looking for ways to cut costs for exporters to make them more competitive in world markets. This may involve simplifying procedures and transparency issues as well as doing away with cost inefficiencies. The Minister of State for Commerce and Industry Jyotiraditya Scindia is heading a task force to […]
New Delhi to Launch Airport Express
NEW DELHI, Apr. 27 – As the city prepares for the Commonwealth Games in October, the impact of the huge international athletics event on its infrastructure is already taking effect as it readies the launch of its new airport express. Next month, the government will test the first set of trains purchased from Spanish-based rail […]
World Bank Raises India’s Shareholder Status
Apr. 27 – The World Bank Group increased India’s shareholder status from 2.77 percent to 2.91 percent on Sunday, making it the seventh largest shareholder in the International Bank for Reconstruction and Development (IBRD). The shift in voting power reflects the South Asian nation’s growing clout and the bank’s decision to redistribute shareholdings in favor […]
