Search Result for : Ites

Sneha Gilada Global In-house Centres (GIC) are an integral component of the Indian IT industry and contribute significantly to the country's service export revenues. They have also been immensely beneficial to the economy in terms of employment generation. But the broad function of a GIC has changed dramatically in the last three decades, from being purely an operational vehicle delivering cost advantage by way of employing cheap labour; to driving strategic innovation and acting as a brand's window of penetration into new markets.  Celebrating the growing role of GICs in a modern day global enterprise, NASSCOM (National Association of Software and Services Companies) organised the 8th edition of its GIC conclave. The two-day event, inaugurated on April 20, was held in the city of Hyderabad, which is one among India's prominent IT hubs. The summit's prime ...

By Ranjeet Mahtani and Sweta Rajan A seven-hour long debate in the Lok Sabha, resulted in the passage of the Integrated GST, Central GST and GST Compensation Bills this week. Having been introduced as ‘money bills’ the Rajya Sabha did not have the power to amend or reject bills. Now, the Bills require presidential assent to become law. In preparation for the transition to GST, the Central Government has introduced another bill in the Lok Sabha to amend the Customs Act, 1962, the Customs Tariff Act, 1975, the Central Excise Act, 1944, the Central Excise Tariff Act, 1985, the Finance Act, 2001, and the Finance Act, 2005, and to repeal certain existing enactments. These amendments are essential to modify the tax levying ...

PTI Candor Management Services today announced that it has signed a definitive agreement with Bangalore Metro Rail Corporation to set up a new business incubation centre at the 'Namma Metro' Trinity Station.Branded "candorHUB", the centre will nurture startups in bringing their innovations to market efficiently, providing them with an array of startups advisory, business support, co-working space and structured training programs, Candor said.It would extend much needed linkages with industry sponsors, mentors, investors, and accelerators, the company said in a statement here."We will extend full support to Candor in setting up their new business incubation centre at Trinity metro station," said U A Vasanth Rao, General Manager Finance (Taxation & Resources), Bangalore Metro Rail Corporation Limited."By spurring creativity and mitigating avoidable ...

The Dollar Business Bureau Commerce and Industry Minister Nirmala Sitharaman has pitched for a strong focus on the country’s trade with China, while expressing concern over China’s “efforts to stall India’s exports through non-tariff barriers”. On Friday, the Minister held a meeting with a parliamentary consultative committee in Goa to assess the performance of India’s foreign trade. Responding to suggestions given by the committee members, the minister said that focus was being given on sectors such as pharma/ IT/ ITES/gems & jewellery/ textiles/ fruits & vegetables/ meat exports to improve India’s exports to China. “The Commerce Minister highlighted the concern that China has been making efforts to stall India’s exports through non-tariff barriers such as phytosanitary stipulations, standardisation issues etc,” ...

Sai Nikesh D | The Dollar Business Indian companies seem to have gained more trust of private equity investors who have already pumped in more than $7 billion in the past six months, more than 38% invested during the first half of last year. With $7.1 billion commitment involving 460 deals with IT&ES (Information Technology and IT-enabled services), banking & finance and pharmaceuticals sectors, private equity funds’ participation in H1 of 2015 witnessed 38% year-on-year growth, said Associated Chamber of Commerce and Industry (ASSOCHAM), in its study. Speaking to The Dollar Business, Arvind P Mathur, president, Indian Private Equity & Venture Capital Association (IVCA), said, “Private equity players are focusing prudently and selectively in diverse range of Indian enterprises. They ...

 The Dollar Business Bureau In a big boost to India’s services industry, the new Foreign Trade Policy (FTP), which was released by Minister of State for Commerce and Industry Nirmala Sitharaman, on Wednesday, has made duty credit scrips available to services exporters fully transferable. A long time demand of the services industry and an idea that The Dollar Business has long been advocating, the move will not only incentivise services exports, but will also increase the volume of trading in scrips. Earlier, services exports, which were incentivised under the Served from India Scheme (SFIS), used to provide exporters scrips that were not transferable. But under the new scheme – Service Exports from India Scheme (SEIS) – scrips are fully tradable. ...

 Sai Nikesh | The Dollar Business In a move towards bridging a widening trade deficit with China, the Government of India (GoI) is keen on promoting its services in China, so as to fill the existing trade gap between the two economies. In this regard, the Ministry of Commerce & Industry, GoI, is focusing on promoting services from key Indian sectors like information technology, pharmaceuticals, tourism, textiles and agricultural products, in the Chinese markets. The Indian government is also keen on setting up a joint working group with Beijing, to discuss growth prospects and further plan a strategy to market Indian services in China. India is seeking to fill the gap that occurred due to decrease in service exports ...

Dated February 18, 2015 | Copy of | Notification | WHEREAS, M/s. Gigaplex Estate Private Limited, a private organization, had proposed under Section 3 of the Special Economic Zones Act, 2005 (28 of 2005), (hereinafter referred to as the said Act), to set up a sector specific Special Economic Zone for Information Technology and Information Technology Enabled Services at Plot No. IT-5, Airoli Knowledge Park-TTC Industrial Area, Villages Airoli and Dighe, District Thane in the State of Maharastra; AND,  WHEREAS,  the  Central  Government,  in  exercise  of  the  powers  conferred  by  sub-section  (1)  of Section 4 of the said Act read with Rule 8 of the Special Economic Zone Rules 2006, had notified the areas of 11.74 hectares at above Special ...