India looking for global investors in infrastructure: LSE CEO
The Dollar Business Bureau With a huge demand for investment in the infrastructure, India is looking for investors globally and London would prove to be natural destination, said Nikhil Rathi, Chief Executive Officer, London Stock Exchange (LSE). “So, India is a fastest growing economy in G-20, growing at 7% a year. There is huge demand for infrastructure investment in India, and it is going global and looking for global investors and London is proving to be natural place for it,” Rathi said. The LSE witnessed the listing of Rs.7,000 crore worth of bonds on Thursday and Friday. India’s Road Transport Minister Nitin Gadkari has launched NHAI bonds worth Rs.5,000 crore on Thursday. Piyush Goyal, Power, Coal and Renewable Energy Minister, has launched the trading of papers on Friday worth Rs.2,000 crore from NTPC ...
Solar generation capacity to cross 20,000 MW in next 15 months
The Dollar Business Bureau Power and Renewable Energy Minister Piyush Goyal on Friday said India’s solar power generation capacity would most likely cross 20,000 MW over the next 15 months from its current capacity of 10,000 MW. "On 10th of March this year the installed solar power capacity in India has crossed 10,000 MW, four times the installed capacity three years back, which in next 15 months would cross 20,000 MW," a Power Ministry said in a statement. Speaking at a media event, Goyal said: "India could not have completely focused on Making in India' in the last three years as being in the nascent stage, its solar power sector needed a technological and financial boost from abroad to rapidly expand its horizons." The ...
Jharkhand Global Investments Summit on Feb 16, PM to address it
The Dollar Business Bureau Prime Minister Narendra Modi will address the Global Investor Summit via video conferencing on February 16, Raghubar Das, the Chief Minister of Jharkhand told reporters during media briefing. The Global Summit, which will be held on February 16-17, is being organised by the Jharkhand state government to improve per capita income, gross domestic product (GDP) and growth rate of the state, Das said. Well-known industrialists and teams from Australia and China will take part in the two-day summit, he added. The Chief Minister had said on Monday that Japan, Tunisia, Czech Republic and Mongolia would be the partner countries at the summit and around 2,500 delegates from all over the world are expected to attend the event, with 12- 15 central ministers and 40 industrialists gracing the summit. An ...
Bankruptcy code boosting corporate bonds: CRISIL
The Dollar Business Bureau The various initiatives of Indian government and the newly introduced Insolvency and Bankruptcy Code, 2016 are boosting the country’s corporate bond market, said CRISIL in a report. According to it, lesser profitability of public sector banks (PSBs) has reduced their capability in accruing capital. Weak performance, particularly due to the rise in non-performing assets (NPAs), has created a challenging environment for the PSBs in raising money from the capital market. Higher provisioning is another factor that has weakened the ability of PSBs in offering better interest rates. Along with the rise in credit demand, capital requirement would also increase. There are also several other imperatives of growth, the report states. India will require Rs.43 lakh crore (approximately $650 billion) for ...
India resolves over 100 transfer pricing cases with US
The Dollar Business Bureau Indian tax authority has resolved more than 100 disputes related to transfer pricing with the US in the past one year after the two countries signed the mutual agreement procedure (MAP) as part of their double taxation avoidance pact. To boost investment sentiments among multinational companies, the Central Board of Direct Taxes (CBDT) had signed a framework agreement with the US revenue authorities in January last year. The agreement, under the provision of Mutual Agreement Procedure (MAP) of the Indo-US Double Taxation Avoidance Convention (DTAC), seeks to resolve about 200 pending cases related to transfer pricing between the two countries. Most of these cases pertain to overseas transactions between group companies engaged in information technology services and ...
FM assures global investors on policy stability, tax reforms
The Dollar Business Bureau Finance Minister’s 10-day US trip has opened its way for the long term investment in India. The buzz is that the investors in US are planning for long term investment, though there are concerns of Policy stability and reform process. A delegation of industry body CII (Confederation of Indian Industry) is also joining the Finance Minister. The delegation is led by its president- designate Naushad Forbes. Finance Minister has assured the global investors that the efforts are being made to reduce the concerns on the expediting tax reform process, tax regime and policy stability by the Indian Prime Minister Narendra Modi. Meanwhile, CII is organizing a number of events and meetings with investors, large US corporations, ...
