India Positive - April 1, 2016
- November 30, -0001
Govt defines e-commerce marketplace rules, allows 100% FDI
Government of India has allowed 100 per cent foreign direct investment (FDI) in online retail of goods and services through the automatic route, thereby providing clarity on the existing businesses of e-commerce companies operating in India.
Core sector grows 5.7% in February
The combined Index of eight core industries grew by 5.7 per cent in February, 2016 which is the highest in the past 15 months.
RBI eases ECB norms for infra space
The Reserve Bank of India (RBI) has allowed companies in the infrastructure sector to raise external commercial borrowings (ECB) with a minimum maturity of five years and with an individual limit of US$ 750 million for borrowing under the automatic route.
Foreign automakers make India their export hub
India is becoming an export hub for foreign automobile manufacturers as it has become the first country in Asia to export two fully-built inter-city luxury buses to Europe and many European automakers such as Volvo, Scania, JCB plan to increase exports from India.
Auto component industry may grow 8-10% next year
The Indian Auto Component industry is expected to grow by 8-10 per cent in FY 2017-18, based on higher localisation by Original Equipment Manufacturers (OEM), higher component content per vehicle, and rising exports from India, as per ICRA Ltd.
FII cash flow close to 3-year high
Investments by Foreign Institutional Investors (FII) in the Indian market in March 2016 stood at Rs 20,686 crore (US$ 3.08 billion), which is the highest single-month investment since February 2013, as per data from National Securities Depository and Securities (NSDL) and Securities and Exchange Board of India (SEBI).
Government signs 11 unilateral Advance Pricing Agreements (APAs)
The Central Board of Direct Taxes has signed 11 unilateral Advance Pricing Agreements (APA), thereby increasing the tally of bilateral and/or unilateral APAs to 59, with the aim to provide a predictable and non-adversarial tax regime and to reduce litigation in the Indian transfer pricing regime.
Government will take policy initiatives to boost hydro power output
Mr Piyush Goyal, Minister of State for Power, Coal, New and Renewable Energy, has outlined Government of India's plan to boost hydro power generation by introducing major policy initiatives, improving the transmission network and further accelerating the use of energy efficient Light Emitting Diode (LED) bulbs.
Digital India a $1 trillion business opportunity, says Ravi Shankar Prasad
Mr Ravi Shankar Prasad, Minister of Communications and Information Technology (IT), Government of India estimates that the 'Digital India' initiative is a US$ 1 trillion business opportunity across IT and ITeS, telecom and electronics manufacturing.
Indian companies raise over Rs1 trillion in FY16
Equity fundraising by listed Indian companies stood at Rs 1.04 trillion (US$ 15.63 billion) in FY 2016, which is the highest since 2011, as per Prime Database, Praxis Consulting and Information Services Pvt Ltd.
Record urea production at 24.5 million tonnes in 2015-16
Urea production in India has increased by 2 million tonnes (MT) to 24.5 MT in FY 2015-16, which is the highest production quantity in year, and which help to reduce Urea imports in to India.
Mobile banking sees dramatic surge in India
The value of mobile banking transactions in December 2015 increased four times year-on-year and jumped by 46 per cent over the previous month to Rs 49,029 crore (US$ 7.34 billion), as per data from the Reserve Bank of India (RBI).
Partners
