สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 3 กรกฎาคม 2556

Now Green Light to 100% Telecom FDI
The Telecom Commission, the highest decision-making body of the department of telecom (DoT) has approved complete foreign direct investment in telecom sector yesterday. If it is ratified, the new policy will allow foreign telecom operator to buy out existing Indian partners because they will no longer need to have a minority shareholder in the country.

A number of famous telecom operators welcome the move of the government, saying that 100% FDI might help cut debt burden. This will make it easier for operator to attract FDI as it allow more flexibility to shareholders and other looking at long term investment in India, according to a Norwegian telecom operator.

(Source: The Financial Express, the Economic Times)

New FDI Norms to Bring in more Multi-Brand Retails
Indian government is working to relax the FDI rules for multi-brand retailers. After it met with retail sector last week, now the government may allow foreign retailers to set up stores in cities with the population less than one million people.

The commerce and industry ministry is likely to approach the Cabinet for a number of changes in the foreign direct investment norms, including on allowing the foreign chains to continue sourcing from the small enterprise even after they become large. A senior official from the ministry, who did not wish to be named, further added that foreign retailers are allowed to open the front-end stores in cities with people less than one million except from Jummu & Kashmire and Assam states.

(Source: The Financial Express, the Economic Times)

Policy to Fight Cyber Crimes
Yesterday, Indian government has unveiled the 2013 National Security Policy aiming to protect information and build capability to prevent cyber attacks. In other word, this policy has been set up to safeguard both physical and business assets of the country from cyber crimes.

This policy will have to be implemented accurately because, as communication and IT Minister Kapil Sibal said, instability in cyber space means economic instability. And, yes, no nation can afford economic instability.

(Source: the Financial Express)

Service Tax norms for SEZs streamlined
The finance ministry streamlined the rules for refunding service tax levied by a service provider to a Special Economic Zone developer or unit, by reissuing an earlier notification. A service provider to an SEZ has the option of either not charging service tax or refund from the authorities as per certain guideline.

(Source: the Financial Express)

100% FDI for Defence Units in SEZs likely
With the aim to boost exports, the government now likely to allow 100% foreign direct investment (FDI) in defence units located in special economic zones (SEZs) on a case-to-case basis. This idea will improve the defence equipment manufacturing which will strengthen the supply of goods to Indian defence forces and also allow public-private partnership with the central government as well.

"Higher FDI is likely to be allowed in SEZs. If not 100%, 74% may be allowed. For all major defence requirements, we have to go buy from outside. Why can't we make them here?" said a government official.

(Source: the Economic Times)

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