Search Result for : Foreign Companies

The Dollar Business Bureau Companies from various countries including China, Russia and the UAE, have shown interest for establishing businesses in Punjab, a spokesman of the state government said, after meeting various company officials. The foreign companies have evinced interest in diverse fields such as metro railway and defence, the spokesman said. A representative from Russian banking and financial services company Sberbank, on behalf of Russian firm Energo Group Company LLC, met Chief Minister of Punjab Amarinder Singh, with a proposal on projects in waste-to-energy in Punjab, providing turnkey solutions in the field of renewable energy, a statement said. Vigen Sogomonyan, Head - Corporate Banking at Sberbank India branch, said that Energo Group had conducted extensive research in the state and seeing its potential in agriculture, ...

PTI A bipartisan group of four US lawmakers, including Indian-American Ro Khanna, today introduced a legislation in the Congress to reform the current H-1B and L1 work visas and end its abuse by foreign companies. The H-1B and L-1 Visa Reform Act of 2017 introduced by Congressmen Bill Pascrell, Dave Brat, Khanna and Paul Gosar is in addition to the nearly half a dozen similar legislations pending in the US Congress either the House of Representatives or the Senate all of whom seek to close loopholes in the H-1B and L visa programmes to reduce fraud and abuse, provide protections for American workers and visa holders. Interestingly the latest move from four Congressmen come a day after a NASSCOM delegation concluded ...

Manishika Miglani The rise in the sales of smartphones, especially in developing economies, led to a corresponding rise in global mobile accessories market which is expected to grow at a CAGR of 6.17 per cent between 2016 and 2020.   Capdase, a global pioneer in mobile accessories, is all set to tap this opportunity with a market presence in over 45 countries. Eyeing India as its next biggest export market, the company recently joined hands with YMS Mobitech, an app-based e-distribution company in the country and plans to capitalise on its network of 11,262 retailers and 361 distributors spread across 383 cities. Stanley Chu, Founder and Director, Capdase and Ajay Laddha, Co-founder, YMS Mobitech spoke to The Dollar Business (TDB) about inking this partnership ...

The Dollar Business Bureau An agreement has been signed between India and Palestine for the establishment of a ‘Palestine-India Techno Park’ in Ramallah for which the Indian government will release a grant of $12 million, according to the External Affairs Ministry. The agreement is the result of the diplomatic dialogue carried out by President Pranab Mukherjee during his visit to the country last year in October. While the project will entail India to provide an amount of $3 million on a quarterly basis for two years, the park will be set up on the land given by the Palestinian side. The establishment of the park will be significant as it will serve as an IT hub offering state-of-the-art technology, hosting IT companies and foreign ...

Source: PIB, Government of India After due consideration of the various aspects of the matter, the government of India has decided that with effect from 01.04.2001, the provisions of Section 115JB shall not be applicable to a foreign company if — The foreign company is a resident of a country having DTAA (Double Taxation Avoidance Agreement) with India and such foreign company does not have a permanent establishment within the definition of the term in the relevant DTAA,  or The foreign company is a resident of a country which does not have a DTAA with India and such foreign company is not required to seek registration under Section 592 of the Companies Act 1956 or Section 380 of the Companies Act 2013. An appropriate amendment ...

Source: PTI   India's growing middle class makes it an attractive market for foreign companies and the country's consumer spending is likely to more than double to US$ 2.4 trillion by 2018-19, said an Economist Intelligence Unit (EIU) study. According to EIU, the growing middle class offers potential for manufacturers and retailers. Moreover, rising income levels mean India's huge population of around 1.2 billion is becoming an increasingly important market for consumer goods, and this trend is likely to continue, it said. “Private consumption expenditure will rise from US$ 1 trillion in 2013/14 to US$ 2.4 trillion in 2018/19," the EIU report said, adding that a majority though would continue to be preoccupied with meeting their basic daily needs rather than follow ...

Dated 3rd December, 2014 | Copy of | Notification no.FEMA.328/RB-2014 | In exercise of the powers conferred by clause (b) of Section 9 and clause (e) of sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India makes the following amendment in the Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) Regulations, 2000, (Notification No. FEMA 10/2000-RB dated 3rd May, 2000), namely:- 1. Short title and commencement:- (i) These Regulations may be called the Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) (Amendment) Regulations 2014. (ii) These Regulations shall come into force from the date of their publication in the Official Gazette ...

Bidhu Bhushan Palo | @TheDollarBiz Former Air Chief Marshal S. Krishnaswamy (Speaking at the conference); Dr. G. Satheesh Reddy, Outstanding Scientist and Director, Research Centre Imarat, Defence Research and Development Organisation (DRDO) (seated)   Questions pop up faster than answers when it comes to manufacturing in defence and aerospace in India. However, one theme that brought together all the participants at International Conference and Exhibition on Defence and Aerospace Technologies which concluded in Hyderabad, India yesterday was: “We mean business”. The message was clear even from former Air Chief Marshal (Rtd.) S. Krishnaswamy. Speaking about concerns on national security due to FDI in defence, he told The Dollar Business, “FDI will strengthen India’s defence sector. Indian defence forces are capable of building ...