#IndiaNITI (April to June)
#indiaNiti is a Policy Update Newsletter covering various policy Initiatives of Indian Government. We have covered following initiatives in this publication:- – Indian Space Policy 2023 – National Medical Device Policy 2023 – Exploration of Coal & Lignite Scheme – Sangathan Se Samriddhi Scheme – 250GW Renewable Energy – Animal Pandemic Preparedness Initiative – Revised domestic Gas […]
IT Hardware PLI 2.0
Indian Government has launched again a PLI Scheme to incentivize manufacturing of consumer electronics in the country. Salient features of the scheme are as follows:- Total Budgetary Outlay – Rs. 17,000 crore. Tenure – 6 years Target Segments – Laptops, tablets, all-in-one PCs, servers and ultra small form factor devices. Expected incremental investment is Rs. […]
Investment in US – File with BEA
Do we need to file any form in US for the newly setup company? This question haunts all the investors who are setitng up a business for the 1st time in United States. While the laws in US are complicated and one needs to look into the respective state laws to understand what all is […]
Kerala Industrial Policy 2023
Kerala Government has recently released a New Industrial Policy 2023 for the state. The policy will apply without any expiry. The Industrial policy is based on the 7 Pillars being the basic objective of the scheme which are as under:- 1. Fostering Entrepreneurship 2. Enabling Infrastructure 3. Transition to Hi-Tech 4. Skill Development 5. Supportive […]
Mandatory Audit of Foreign Subsidiaries of Indian Companies
RBI has through Foreign Exchange Management (Overseas Investment) Regulations, 2022 has amended the regulations governing overseas investment by Indian Companies. The amended regulations inter alia covers the reporting requirements of the Indian Party. As per the Reporting Requirements under the supra mentioned regulations, the Indian company which has made Overseas Direct Investment or making financial commitment […]
Andhra Pradesh releases State Industrial Policy 2023-27
Recently Andhra Pradesh has issued its State Industrial Policy 2023-27 covering the incentives proposed by the state with a mission to build a prosperous state. The policy brings a special incentive for SC/ST Enterpreneur under the YSR Jagananna Badugu Vikasam Scheme. The policy aims for the following:- Economic Growth Port-led development Enhanced Logistical ecosystem Developing […]
SPECS scheme extended by 1 year by MeiTY
MeiTY has recently extended the period for filing new application under Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors by another 1 year. This mean that the companies can now apply for a electronic manufacturing project till 31st March 2024 and the projects will be allowed to be completed by 31st March 2029 […]
India Niti – Policy Updates
Introducing our 1st Newsletter on various policy initiatives of Government of India between January to March 23. This newsletter will provide birds eye view of the new policies introduced by various central government ministries. Policies covered includes the following:- 1. Foreign Trade Policy 2023 2. Swadesh Darshan Scheme 3. Petrochemical research & innovation commendation scheme […]
Finance Act 2023
The Government has passed Finance Act 2023 with over 64 amendments including contentious changes to the taxation of debt instruments and increase in the rate of taxation on Fee for Technical Services / Royalty to 20% from existing 10%. This year Budget fails to bring cheer for the public at large even though this is […]
Indian Government released the Foreign Trade Policy 2023 with no expiry
India has reach record high Export Performance in Merchandise and Services Exports during this period. India’s Merchandise and Services exports is expected to cross record USD 760 Billion in FY2022-23. FTP 2015-20 contributed to this illustrious export performance. NEW FOREIGN TRADE POLICY 2023 – Approach to move from incentives to tax remissions and provide better administration of cross border trade – […]