India Briefing News
Business News From India



India Revises Telecom License Rules (Jul 30)
Jul. 30 - The Directorate of Telecommunications has made changes to the the unified access service license (UASL), reflecting heightened security concerns. Equipment suppliers must now disclose business details and allow their manufacturing facility to be inspected. Moreover, they are obliged to reveal design, development and supply chain details as well as allow hardware and software [...]


Indian States Request Central States Tax to Remain (Jul 29)
Jul. 29 – Indian states are proposing that Central States Tax (CST) still be applicable when the pending Goods and Services Tax (GST) is implemented. The local government wants the CST to remain in the first few years of GST application as a way of ensuring revenue for them. The union government recently recommended [...]


India Clears FDI Proposals Worth US$479.5 Million (Jul 28)
Jul. 28 - India has cleared 18 foreign direct investment proposals amounting to US$479.5 million with the largest investment going to the broadcasting industry. Transcend Infrastructure Ltd., the wholly-owned Indian subsidiary of American Tower Corporation, is set to invest US$412.51 million to build communication and broadcasting towers, then lease to the broadcasting sectors. Transcend Infrastructure manages [...]


India Considers Easing Approval for FDI-Funded Investments (Jul 27)
Jul. 27 - The Finance Ministry and the Department of Industrial Policy and Promotion is considering allowing foreign funded Indian companies to invest in subsidiaries without needing prior approval. Currently, local companies with substantial foreign direct investment must obtain approval from the Foreign Investment Promotion Board (FIPB). Most likely the pre-approval process will not be needed [...]


Tobacco FDI Issue Referred to Reserve Bank India (Jul 26)
Jul. 26 - The Department of Industrial Policy & Promotion (DIPP) has referred the notification issued in May that forbids foreign direct investment in tobacco manufacturing back to the Department of Economic Affairs (DEA) and the Reserve Bank of India. The RBI had requested that the DIPP check possible clauses that could prevent clandestine current account [...]


India Lowers Area Requirements for SEZs in Smaller Cities (Jul 23)
Jul. 23 – India has decided to lower the minimum required area for establishing special economic zones for the IT,  bio-tech, gems and jewelry industries in smaller cities around the country. “The built up area requirement for SEZs so far was too large to attract developers in small cities as investors wouldn’t want to put in [...]


Three Rate Structure Proposed for Goods and Services Tax (Jul 22)
Jul. 22 - A three-rate structure for the Goods and Services Tax was proposed by Finance Minister Pranab Mukherjee yesterday as a way of streamlining implementation. Under his proposal, there will be a 20 percent levy on goods, 16 percent on services and 12 percent on essential items. The GST is scheduled for April 1, 2011 [...]


Six Things to Check When Filing Income Tax Returns (Jul 21)
By Vikas Srivastava Jul. 21 - Following the Indian income tax law, filing tax returns is an annual mandatory procedure for all taxpayers in the country. This year, authorities have set the deadline for filing to Jul. 31 for the 2009-2010 financial year. Taxpayers tend to commit common mistakes while filing their returns that lead to penalties [...]


Special Economic Zone Exports Up by 67 Percent (Jul 20)
Jul. 20 - Special economic zone exports in India increased by 67 percent to Rs. 587.5 billion for the first quarter of the financial year compared to the same period last year. Top special economic zone exports included information technology, IT hardware, petroleum, engineering, leather and garments. Exports from the zones have continued to show strong [...]


India Considers Removing Foreign Investment Caps on Limited Liability Partnerships (Jul 19)
Jul. 19 - India may consider removing caps on foreign direct investment for limited liability partnerships says a government source. Authorities have been discussing the details of LLPs since last year.”The officials have reached a consensus for 100 percent FDI in LLPs,” the source told The Times of India. An LLP is the preferred option [...]