Economy & Trade

Investing in Tamil Nadu: Manufacturing Outlook and Opportunities


India Briefing profiles the manufacturing sector in the southern state of Tamil Nadu, and explores its appeal for foreign investment.

India Identifies List of 30 Critical Minerals: Economic Implications


India has released a list of 30 critical minerals crucial for its energy transition and development of frontier industries. The move is aligned with global efforts to ensure stability in the supply chain of these critical minerals.

India-Peru Trade Agreement: Bilateral Negotiations Ongoing


India and Peru are negotiating a bilateral trade agreement that could lower tariffs, address technical barriers to trade, and introduce a dispute resolution mechanism.

India-ASEAN Trade Pact: Tariff Anomalies on Goods to be Reviewed


The India-ASEAN trade pact is under review, with the former hoping to address tariff irregularities on specific goods within the agreement.

India's Regulation of Solar PV Modules: Approved List of Models and Manufacturers


With effect from April 1, 2024, India has reinstated the ALMM mandate, a move viewed by experts as a breather for OEMs. However, temporary relaxations apply to projects in advanced development stages.

India's Dedicated Freight Corridor Program: Progress and Prospects


India's two dedicated freight corridors, namely the Eastern Dedicated Freight Corridor (EDFC) (1337 km) and the Western Dedicated Freight Corridor (WDFC) (1506 km) are nearing completion in India.

Tax & Accounting

India-Mauritius DTAA Amendment Closes Tax Avoidance Loophole


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


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


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


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.

NFRA Seeks to Promote Innovation in India's Auditing Industry


At the maiden international conference organised by the NFRA, its chairman, Ajay Bhushan Pandey, has expressed strong intentions to inculcate a framework identical to an innovation lab to promote technological advancement in the auditing industry.

Mauritius Government Amends its Double Tax Treaty with India to Align with BEPS MLI


In a list of Cabinet Decisions taken by the Mauritius government on February 23, 2024, it was announced that its DTAA with India would be amended in keeping with BEPS norms.

Legal & Regulatory

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


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


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


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


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.

Establishing a Trading Company in India


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.

India Notifies ‘Lesser Penalty’ Regime under the Competition Act


The Lesser Penalty regime in India is provided under Section 46 of the Competition Act, 2002 and governed by regulations released by the CCI. We discuss key features of this leniency program, which applies to entities under investigation in cartel cases, and the benefits provided under India's antitrust laws.


Top Companies Race to Seize India's ACC Manufacturing Opportunity


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


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


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


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

India Extends Deadline for Proposal Submission on Green Hydrogen R&D to April 27


India has announced an extension for the submission of research and development (R&D) proposals under the National Green Hydrogen Mission.

The MedTech Industry in India: Outlook and Growth Drivers


India is implementing key initiatives aimed at growing the medical technology (MedTech) industry and attracting more foreign investments.

HR & Payroll

How Labor Market Intelligence Can Strengthen Your India Market Relocation Strategy


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


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


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


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.

The OSH Code, 2020: A Primer


The yet to be implemented Occupational Safety, Health, and Working Conditions (OSH) Code, 2020 will subsume several existing HR regulations.

India to Push for Social Security Agreement with the US at Trade Policy Forum Meeting


India has supplied comprehensive data on its social security programs to the United States, as it seeks an agreement to prevent double insurance liability for temporary workers.

Our firm Dezan Shira & Associates provides legal, tax and operational advisory across Asia.
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