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Economy & Trade

India's Top 5 Investment Destinations in 2024

05/10/2024

India Briefing lists the top five investment destinations in the country, ranked based on overall sectoral growth and industrial activities.

Investing in Hyderabad: India's Hub for IT, Pharmaceutical Manufacturing

05/07/2024

India Briefing profiles the city of Hyderabad, one of the leading destinations in the country for service exports and pharmaceuticals.

India and Australia Eager to Finalize CECA Framework

05/06/2024

India and Australia are reportedly in talks to finalize the framework on their CECA as the former has sought industry inputs on the agreement.

India-Vietnam Investment Opportunities, Market Entry Considerations

05/03/2024

We discuss the India-Vietnam trade and investment relationship, market entry considerations, and opportunity areas for commercial growth.

New Delhi Reviews Trade Agreements with Key Asian Partners

05/02/2024

India's economic partnership with East Asian countries has not yet realized its full potential, with major trade imbalances registered with South Korea, Japan, and ASEAN. New Delhi is seeking to rectify this situation with ongoing FTA reviews.

Update: India Has Approved 124 FDI Proposals from Neighboring Countries Since 2020

05/01/2024

In 2020, India announced the decision to scrutinize investments from neighboring countries, allowing FDI only via the government route.

Tax & Accounting

Foreign Tax Credit in India: What You Need to Know

05/08/2024

India Briefing guides you through the mechanism of Foreign Tax Credit in India and how taxpayers can avoid paying double tax.

Goods and Services Taxes in India 2024 - New Publication Out Now

04/28/2024

India Briefing discusses how the Goods and Services Tax regime works in India, applicable rates for 2024, and reporting obligations for businesses.

India-Mauritius DTAA Amendment Closes Tax Avoidance Loophole

04/16/2024

India and Mauritius have agreed to abide by recent DTAA revisions, which include a PPT clause to prevent any unjustified tax avoidance.

India's ITR Forms for AY 2024–25: Key Updates

04/03/2024

India's Income Tax Department has released ITR Forms 1-6 for AY 2024–25 and is enabling e-filing mechanisms according to reporting deadlines.

India-Spain DTAA Notification: Lowered Tax Rates and Key Provisions

04/02/2024

India has announced that tax rates on royalties and fees for technical services under the India-Spain DTAA will be capped at 10%, a rate lower than domestic laws, as per a most-favored nation basis, according to a March 2024 notification.

Tax Rules in India in Effect from April 1, 2024

04/01/2024

FY 2024-25 begins April 1, 2024 and brings in no new changes to the tax rules in India per the federal government. We roundup the direct tax rules applicable for AY 2024-25 and certain Finance Act 2024 amendments to the indirect tax regime.

Legal & Regulatory

Amendments to DPDP Act Priority for India's Modi Government if it Wins Third Term

04/30/2024

Implementation rules for India's DPDP Act, which was passed in parliament in August 2023, is expected to be enacted in the first 100 days of the formation of a new government and will establish rules on important digital domain issues such as AI-led misinformation and deepfakes.

India's Corporate Affairs Regulator Seeks Public Feedback on 7 Regulations Under Insolvency and Bankruptcy Code

04/29/2024

India's Ministry of Corporate Affairs has invited stakeholders to submit responses to seven specific regulations under the IBC, 2016 rules.

Environmental Compliance for Companies in India: Key Legislation and ESG Guidelines

04/12/2024

The environmental compliance landscape in India poses challenges due to uneven law enforcement. We note key reporting requirements.

India’s Regulation of AI and Large Language Models

03/27/2024

Presently, India lacks a dedicated regulation for artificial intelligence (AI). We outline some of the advisories, guidelines, and IT rules that offer legal oversight for the development of AI, Generative AI, and large language models (LLM) in India.

Unused Land, Building Laws Confront India's Policymakers Targeting High Industrial Growth

03/11/2024

While some Indian states reclaim unused land for industrial purposes, many enforce building standards that hinder efficient land use by factories.

Establishing a Trading Company in India

02/27/2024

Starting an import-export business in India with the right strategies allows a firm to access information resources, network contacts, and concessions, which are key to profitability and compliance.

Industries

India Revises its FDI Policy for the Space Sector, Relaxes Some Provisions

05/06/2024

India is allowing up to 100 percent FDI in the space sector, opening doors to new business opportunities and high-tech job creation.

Clarifications Issued by the Indian Government on New EV Policy Implementation

04/25/2024

The government has clarified how India's new EV Policy will work as it seeks to tie-in subsidy/benefits to local investment and domestic value addition (DVA).

Top Companies Race to Seize India's ACC Manufacturing Opportunity

04/24/2024

Foreign investors in the manufacturing space and other such stakeholders should pay attention to the emerging capacity building in the Indian ACC manufacturing industry and forge supplier relationships with PLI beneficiaries to achieve mutually advantageous outcomes.

Powering India's Green Energy Ambitions Through Nuclear Energy

04/23/2024

India intends to triple its nuclear power generation capacity by 2030, making the energy source a major component of the nation's power mix.

Apple's iPhone Exports from India Doubles in FY 2023-24

04/22/2024

Apple's iPhone export figures from India in FY 2023-24 amounted to US$12.1 billion. The US-based electronics giant is also reportedly planning to add 500,000 people to its India workforce over the course of the next three years.

Apple’s Contract Manufacturers and Component Suppliers in India

04/17/2024

We note the major contract manufacturers of Apple products in India along with their domestic supplier network, list their locations and investment scope.

HR & Payroll

A Guide to Minimum Wage in India in 2024

05/08/2024

We answer some frequently asked questions foreign hiring managers may have regarding the minimum wage in India. Several states in India have updated their minimum wages as of October 2023.

EPFO in India Mulls Raising Monthly Minimum Wage Ceiling After a Decade

04/29/2024

India's Employees' Provident Fund Organization (EPFO) is reportedly considering raising the monthly minimum wage ceiling from INR 15,000 to INR 21,000 to improve monetary coverage and bring under its purview millions of informal workers.

How Labor Market Intelligence Can Strengthen Your India Market Relocation Strategy

04/10/2024

An effective labor market study will help company decision makers, such as C-suite executives, to make an informed choice that is best suited to their business undertaking.

India Hopes to Replace Minimum Wage with Living Wage Standard by 2025: What We Know

03/28/2024

India is working with the ILO to establish a living wage standard that covers housing, healthcare, food, education, and clothing expenditure. The aim is to have this ready by 2025.

Why Foreign SMEs Consider Payroll Outsourcing in India

03/21/2024

Many SME companies in India, including foreign firms, are actively outsourcing their payroll services to ease the compliance burden and focus on core business growth goals.

More Women Are Now Part of India’s Expanding Manufacturing Workforce

03/07/2024

In India, gradual efforts are being made to ensure that more women are participating in the workforce, including in male-dominated manufacturing jobs. We discuss latest industry hiring trends and challenges facing the Indian economy in meeting gender parity targets.

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