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India to become 2nd largest 4G phone market after China next year
The Dollar Business Bureau With explosive growth recorded in data usage, led by lucrative offers from telecom operators such as Reliance Jio and Airtel, India is expected to become the second biggest 4G handset market by 2018, said a report by market research firm Counterpoint on Thursday. With a projected installed user base of around 340 million 4G handsets, India will take over the US as the second biggest market. Currently having a user base of 150 million, India is placed just behind China and the US, said the report. There is speculation that US would see the 4G installed base to rise 245 million from the current 225 million. India too is likely to witness an accelerated growth, led by rising usage ...
GST: Small cars to become costly, SUVs, 2-wheelers benefit
Aamir H Kaki Under the new goods and services tax (GST) regime, the luxury cars will become cheaper and for buying small cars the buyers have to shell out a little more. Luxury cars, sports utility vehicles (SUVs) and larger sedans would be benefitted from some rationalisation in tax structure as even after a 15% cess on the total levy, it will be lesser than the tax currently being levied on such models. Under the new tax regime, there will be a uniform rate of 28% on cars, unlike the multiple rates of tax levied presently. An additional cess of 1% and 3% is being discussed to be imposed on small cars of petrol and diesel, respectively. Larger cars and SUVs are ...
FDI reforms to boost employment, ease of doing biz
Deepak Kumar As the government envisions to attract more foreign investments, generate employment and facilitate further the ease of doing business in the country with its latest FDI liberalisation announcements, several national and international analysts said this expanded scope of FDI reforms would stimulate foreign investments in India, thereby giving a fillip to Prime Minister Narendra Modi-led Make in India scheme. The government on Monday announced major changes in India’s foreign direct investment rules, allowing 100% foreign investments in defence and airline business, and relaxing norms for single-brand retails and keeping most sectors on automatic approval route. Praising the government’s new initiative, KPMG Partner & Head (Tax) Girish Vanvari said, “Coming at the back of the draft GST bill last week, the ...
GoI to bring parity between defence PSUs, private manufacturers
Source: PIB, Government of India Defence manufacturing is one of the key sectors among the 25 sectors identified under the ‘Make in India’ campaign launched by the Government of India. A number of initiatives have been taken by the new Government to incentivise private sector, including foreign OEMs (original equipment manufacturers) to engage in the Defence and Civil Aerospace sector. A series of consultations have been held across Ministries / Departments under the mentoring of PMO (Prime Minister’s Office) to enable simplification of rules and procedures to promote private participation under defence manufacturing and exports. This is hoped to stimulate big ticket investments and incentivise Manufacturing. There was a long standing demand of the private sector manufacturers to bring parity ...
