The Government of India has broadened the definition of a startup by saying that a business not older than seven years will qualify for benefits such as reduction in patent application fee and a tax holiday, under the startup India program. In the case of startups in the biotechnology sector,...
India Abolishes Foreign Investment Advisory Body
India's Federal Government approved dismantling the 25-year old Foreign Investment Promotion Board, in order to streamline the flow of foreign capital into the country. By abolishing the Foreign Investment Promotion Board India's minister for finance, Arun Jaitley, removed a layer of decision-making for foreign direct investment approvals in 11 sectors...
India Contemplates Opening Up Food Retailing
Foreign food retailers may soon be allowed to sell personal care products made in India up to 25 percent of their total merchandise sales. India's Department of Industrial Policy and Promotion has for the first time endorsed this proposal. The idea behind the move is to encourage "organized" (mass market) retailers...
Amazon India, and Flipkart Beat a New Path to Customers’ Doors
New rules for e-commerce in India framed by the Department of Industrial Policy and Promotion bar any one merchant on sites such as Amazon, Flipkart or Snapdeal from accounting for 25 percent or more of total sales. The rules also stipulate that "e-commerce entities providing marketplace will not directly or...
Make in India Exhibition Gets Response
The Make in India week, organized by the Department of Industrial Policies and Promotion and the western state of Maharashtra created avenues for showcasing, connecting and collaborating for manufacturing in India. The response from corporate investors from domestic and international markets was significant , and 2,094 memorandums of understanding were...
FDI into India rose 63% in February, Year over Year
The Hindu Business Line reports that according to data from the Department of Industrial Policy and Promotion, foreign direct investment in India jumped 63 percent to $3.28 billion in February, 2015. In February last year, the country had received FDI of $2.01 billion. In the 11-month period from April 2014...