I read an interesting article written by Suresh Vazirani, chairman and managing director of Transasia Bio-Medicals Ltd, where he outlines the pros and cons of medical device manufacturing in India. Transasia is the Indian subsidiary of a European device maker. Vazirani says that designated manufacturing zones for medical devices, the...
Ten Most Significant Changes in India in the Last Decade
Forbes documents the top ten most significant changes that India has witnessed from 2010 to 2017. Read a lightly edited summary of these below: 1) Emerging as one of the largest economies The recent economic expansion noted in India has brought a record number of people out of poverty. A...
India Reduces Tax on 177 items
On Friday, November 10, the Goods and Services Tax (GST) Council announced the biggest concession on taxes since the new indirect tax system took effect on July 1. The Council reduced the list of items attracting the top 28% tax rate to just 50 from 227 previously. The items that...
Corporate America Bets on India
John Chambers, executive chairman, Cisco, and chairman, U.S.-India Strategic Partnership Forum says, "While India has long been an important global market, never before has it attracted so much enthusiasm from the American business community." Chambers attributes India's economic transformation, from "slow follower to fast innovator in a matter of several...
Volvo's Managing Director Says GST Is Good for Business
In an interview with the Economic Times, Tom Von Bonsdorff managing director of Volvo Auto India said that the recently introduced Goods and Services Tax (GST) is a business enabler. "The ease of doing business in India will grow. Now we have just transitioned to GST, give it a few...
M&A Deals Surge in India
According to assurance, tax, and advisory firm Grant Thornton, during January-May 2017, there were 170 mergers and acquisition deals worth $35.45 billion in India, registering a significant jump over last year deals worth $13.37 billion. "All eyes seem to be now on the Goods and Services Tax implementation and its...