Other Briefings
India Reconsidering FDI in Multi-Brand Retail, Hamleys Moves In
Apr. 12 – India is considering opening multi-brand retail to more foreign direct investment with the Department of Industrial Policy and Promotion (DIPP) in talks with the Finance and Agricultural Ministry on the issue. “The move to open up retail sector is part of the government’s strategy to plug gaps in the existing food supply […]
Higher Withholding Tax for those with No Permanent Account Number
Apr. 8 – Beginning this month, tax deducted at source on payments will be higher for taxpayers providing no permanent account number (PAN). The higher withholding tax rate of as much as 20 percent for taxpayers with no PAN is aimed at improving tax management and compliance. Taxes are required to be withheld at withholding […]
India-U.S. Financial and Economic Partnership Launched
Increased investment by U.S. businesses expected in India Apr. 7 – India and the United States launched the “India-U.S. Financial and Economic Partnership,” in New Delhi on Tuesday to help ease the entry of foreign capital into both countries. The initiative is aimed at encouraging more trade, investment and job creation by improving macroeconomic policy, […]
Corporate Financial Disclosure Reduced to Within 45 Days
Apr. 7 – The Securities and Exchange Board of India (SEBI) announced in a circular that all listed companies are required to disclose their financial results within 45 days of the end of every quarter as a way of simplifying the reporting process and improving transparency. Previously, companies were given 30 to 60 days to […]
Delhi High Court Ruling Clarifies Withholding Tax Provisions
Apr. 2 – A recent decision made by the Delhi High Court clarifies that non-residents are required to withhold taxes only if the payments are taxable in India. Following the court decision, Indian companies will not be liable for procuring withholding tax orders from the Indian tax authorities in cases where the overseas payments are […]
India’s New Consolidated FDI Policy Available for Download
Apr. 2 – India’s Ministry of Commerce and Industry has released a copy of the new consolidated FDI policy circular effective starting April 1. The document is part of a government effort to make it easier for more foreign investments to enter the country to help improve industrialization and socio-economic development.
Indian Exports Up by 34 Percent in February
Apr. 1 – Signaling strong growth for the Indian economy, exports in February expanded by an impressive 34 percent to US$16.09 billion. Exports grew for the fourth month in a row. In January, exports increased by 11.5 percent to US$14.34 billion. On the other hand, imports amounted to US$25 billion in February, an increase of […]
Standard Chartered to Raise US$500 Million in Mumbai Listing
Mar. 31 – Standard Chartered Bank is poised to obtain the first foreign company listing in India with its submission of a draft prospectus to the Indian Stock Exchange. The bank aims to raise US$500 million through issuance of the first Indian Depository Receipt (IDR), a move which will allow Indian investors to buy into […]
