INDIAN RETAIL INDUSTRY: An Update
|
|
- Myrtle Russell
- 8 years ago
- Views:
Transcription
1 INDIAN RETAIL INDUSTRY: An Update Relaxation of FDI norms for the Indian Retail Sector a positive; albeit implementation challenges persist June 2016 Fver In an environment where the global retailers are facing headwinds in their home countries and thus scouting for new emerging markets, and the domestic players are burdened with piling debt, the Union Government in a timely move has further simplified the foreign direct investments (FDI) regulations for the Indian retail industry, with an endeavour to attract more foreign investment in the sector. Key milesones for FDI in Indian retail industry Analysts Subrata Ray subrata@icraindia.com Kinjal Shah kinjal.shah@icraindia.com % FDI in cash & carry wholesale under the government approval route % FDI in cash & carry wholesale under the automatic route 51% FDI in single-brand retail under the government approval route % FDI in multi-brand retail, with riders 100% FDI in single-brand retail under the government approval route % FDI in business-to-business (B2B) e-commerce, with riders
2 Amendments in FDI policy: Relaxation on sourcing norms for single brand retail; domestically manufactured food products permitted 100% FDI The FDI approval in single-brand retail includes a set of conditions for the foreign investors, aimed at ensuring that the foreign investment makes a genuine contribution to the development of Indian infrastructure and logistics and at the same time facilitating integration of small retailers into the upgraded value chain. While maintaining the other riders, the government has made an amendment in the sourcing norms, as mentioned below. In addition, the government has also opened up the food products (manufactured/ produced in India) sector to FDI, without any riders. Exhibit: Key ammendments in FDI policy for the Indian retail sector Sector Existing policy Amendments introduced Food products manufactured/ produced in India - 100% FDI under government approval route for trading, including through e-commerce, in respect of food products manufactured or produced in India Single brand retail trading 100% FDI under automatic route upto 49% and under government approval route beyond 49% No changes in the FDI policy Sourcing paramater - In respect of proposals involving FDI beyond 51%, 30% sourcing would mandatorily have to be done from domestic SMEs and cottage industries artisans and craftsmen. This procurement requirement would have to be met, in the first instance, as an average of five years total value of the goods purchased, beginning the commencement of the business i.e. opening of the first store. Thereafter, it would have to be met on an annual basis. Source: Press Information Bureau, ICRA research Relaxed local sourcing norms up to three years and a relaxed sourcing regime for another five years for entities undertaking single brand retail trading of products having state-of-art and cutting edge technology Impact: Easier access to funds for Indian grocery start-ups (having off-line and/ or online presence) The move to open up the domestically manufactured food products sector to FDI will enable farmers to directly sell their produce to retailers, thereby reducing margins for middlemen; further, potential investments by the investors in cold-storage and warehousing will ease supply-side pressures and arrest wastages, that have been driving inflation (in the present scenario, lack of investment in logistics and inadequate storage facilities have been creating inefficiencies in the food supply chain, leading to significant wastages) all these initiatives will also help improve margin for farm produce and contain food inflation Encouragement to local production, benefitting the food processing industry; also increased employment opportunities Relaxation of local sourcing riders for single brand retail (which has been a major deterrent to FDI in the past) would encourage more foreign retailers to India, resulting in improvement of supply chain/ distribution efficiencies
3 Challenges:? While 100% FDI is permitted in food products sector, most of the retailers trading food products also sell non-food household items; thus leading to challenges in implementation Conclusion FDI in retail in India is expected to benefit the sector in the medium to long-term as it will a) help improve the balance sheet and liquidity profile of cash-starved retailers and support their expansion plans b) aid supply chain and back-end infrastructure while reducing margins for middlemen through direct sourcing from farmers and c) moderate inflationary pressures through increased supplies facilitated by improved productivity of farmers and reduction of agri-waste. However, over the long-term, the landscape is expected to become extremely competitive, with focus on achieving high levels of operational efficiencies becoming critical for success.
4 ICRA Contact Details CORPORATE OFFICE Building No. 8, 2nd Floor, Tower A, DLF Cyber City, Phase II, Gurgaon Ph: , Fax; REGISTERED OFFICE 1105, Kailash Building, 11 th Floor, 26, Kasturba Gandhi Marg, New Delhi Tel: Fax: MUMBAI Mr. L. Shivakumar Mobile: rd Floor, Electric Mansion, Appasaheb Marathe Marg, Prabhadevi, Mumbai Ph : , /53/62/74/86/87 Fax : shivakumar@icraindia.com GURGAON Mr. Vivek Mathur Mobile: Building No. 8, 2nd Floor, Tower A, DLF Cyber City, Phase II, Gurgaon Ph: , Fax; vivek@icraindia.com CHENNAI Mr. Jayanta Chatterjee Mobile: th Floor, Karumuttu Centre, 498 Anna Salai, Nandanam, Chennai Tel: , /9659/8080 Fax: jayantac@icraindia.com KOLKATA Ms. Vinita Baid Mobile: A-10 & 11, 3rd Floor, FMC Fortuna, 234/ 3A, A.J.C. Bose Road, Kolkata Tel: / 8839, , Fax: Vinita.baid@icraindia.com AHMEDABAD Mr. Animesh Bhabhalia Mobile: & 908 Sakar -II, Ellisbridge, Ahmedabad Tel: /2008/5494, Fax: animesh@icraindia.com HYDERABAD Mr. M.S.K. Aditya Mobile: , CONCOURSE, 3rd Floor, No , Ameerpet, Hyderabad Tel: , Fax: adityamsk@icraindia.com PUNE Mr. L. Shivakumar Mobile: A, 5th Floor, Symphony, S. No. 210, CTS 3202, Range Hills Road, Shivajinagar, Pune Tel : , /196, Fax : shivakumar@icraindia.com BANGALORE Mr. Jayanta Chatterjee Mobile: 'The Millenia', Tower B, Unit No. 1004, 10th Floor, Level 2, 12-14, 1 & 2, Murphy Road, Bangalore Tel: , Fax: jayantac@icraindia.com
5 CORPORATE OFFICE Building No. 8, 2 nd Floor, Tower A; DLF Cyber City, Phase II; Gurgaon Tel: ; Fax: info@icraindia.com, Website: REGISTERED OFFICE 1105, Kailash Building, 11 th Floor; 26 Kasturba Gandhi Marg; New Delhi Tel: ; Fax: Branches: Mumbai: Tel.: + (91 22) /53/62/74/86/87, Fax: + (91 22) Chennai: Tel + (91 44) /9659/8080, / 3293/3294, Fax + (91 44) Kolkata: Tel + (91 33) / / / , Fax + (91 33) Bangalore: Tel + (91 80) /4049 Fax + (91 80) Ahmedabad: Tel + (91 79) /5049/2008, Fax + (91 79) Hyderabad: Tel +(91 40) /7251, Fax + (91 40) Pune: Tel + (91 20) /95/96, Fax + (91 20) Copyright, 2016 ICRA Limited. All Rights Reserved. All information contained herein has been obtained by ICRA from sources believed by it to be accurate and reliable. Although reasonable care has been taken to ensure that the information herein is true, such information is provided 'as is' without any warranty of any kind, and ICRA in particular, makes no representation or warranty, express or implied, as to the accuracy, timeliness or completeness of any such information. Also, ICRA or any of its group companies, while publishing or otherwise disseminating other reports may have presented data, analyses and/or opinions that may be inconsistent with the data, analyses and/or opinions presented in this publication. All information contained herein must be construed solely as statements of opinion, and ICRA shall not be liable for any losses incurred by users from any use of this publication or its contents.
Indian Hotel Industry Industry waiting out one of the longest down-cycle
Indian Hotel Industry Industry waiting out one of the longest down-cycle ICRA RESEARCH SERVICES Corporate Ratings Contacts: Subrata Ray +91 22 6179 6386 subrata@icraindia.com PavethraPonniah +91 44 4596
More informationIndian Mortgage Finance Market Updated for Q1-FY16
ICRA RESEARCH SERVICES Financial ICRA RATING FEATURE Sector Ratings Indian Mortgage Finance Market Updated for Q1-FY16 Performance Review of Housing Finance Companies and Industry Outlook Contacts: Vibha
More informationIndian General Insurance Industry
ICRA RATING FEATURE Financial ICRA RATING Sector FEATURE Ratings Indian General Insurance Industry Industry Outlook and Performance Review Contacts: Karthik Srinivasan +91 22 6179 6365 karthiks@icraindia.com
More informationIndian Gold Jewellery Retail Industry
Indian Gold Jewellery Retail Industry Proposed launch of Gold Bond Scheme and Gold Monetization Scheme is expected to have a moderately positive effect on reducing gold imports over the medium term; impact
More informationAkums Drugs & Pharmaceuticals Limited
Akums Drugs & Pharmaceuticals Limited Instrument Amount (Rs. Crore) Rating Action Term Loans 30.00 (enhanced from 3.10) [ICRA]A+ (stable) assigned Cash Credit Facilities 125.00 (reduced from 145.00) [ICRA]A+
More informationIndian Two-Wheeler Industry
The si ICRA RESEARCH SERVICES Indian Two-Wheeler Industry Corporate Ratings Anjan Deb ICRA Ghosh RATING FEATURE +91 22 6179 6392 aghosh@icraindia.com Contacts: Subrata Ray +91 22 6179 6386 subrata@icraindia.com
More informationIndian Two-Wheeler Industry
The si ICRA RESEARCH SERVICES Corporate Ratings Anjan Deb ICRA Ghosh RATING FEATURE +91 22 6179 6392 aghosh@icraindia.com Indian Two-Wheeler Industry Contacts: Subrata Ray +91 22 6179 6386 subrata@icraindia.com
More informationEnergy Equipments. Plot No: 5208, Phase IV, G.I.D.C. Vatva, T-1 Road (Towards Ramol), Ahmedabad- 382445 Profit sharing Ratio Mr.
Fact Sheet Grading Drivers Energy Equipments ICRA has assigned a SP 4C grading 1 to Energy Equipments (EE), indicating the Weak Performance Capability and Moderate Financial Strength of the channel partner
More informationCBay Systems (India) Private Limited
CBay Systems (India) Private Limited Rating History Amount Outstanding Rating Outstanding Previous Ratings - February 2010 - - Rs. 216.5 million, term loans - LBBB- - - Rs. 10.0 million, long term, fund
More informationWind Energy Sector: Re-introduction of Accelerated Depreciation benefit remains a key Fver
Wind Energy Sector: Re-introduction of Accelerated Depreciation benefit remains a key positive Fver for the sector, though concerns on RPO compliance continue Summary February 2015 ICRA RESEARCH SERVICES
More informationINDIAN BROKERAGE INDUSTRY
ICRA RESEARCH SERVICES INDIAN BROKERAGE INDUSTRY Financial Sector Ratings ICRA RATING FEATURE Contacts: Karthik Srinivasan +91 22 6179 6365 karthiks@icraindia.com Vibha Batra +91 124 4545 302 vibha@icraindia.com
More informationDurga Solar Enterprise
Fact Sheet Grading Drivers Durga Solar Enterprise ICRA has assigned SP 3C grading * to Durga Solar Enterprise indicating the Moderate Performance Capability and Moderate Financial Strength of the channel
More informationINDIAN BROKERAGE INDUSTRY
ICRA RESEARCH SERVICES INDIAN BROKERAGE INDUSTRY Industry on its way to recovery; Rise in retail participation remains the key Financial Sector Ratings ICRA RATING FEATURE Contacts: Karthik Srinivasan
More informationSREI Equipment Finance Private Limited
SREI Equipment Finance Private Limited RATING HISTORY Rs. 15 billion, short-term debt programme Amount Outstanding Maturity Rating Outstanding Previous Ratings Mar-10 (in Rs. million) May-2010 September-
More informationTELECOM SECTOR. Telecom Sector: Trends & Outlook ICRA RATING FEATURE. Contacts: +91 124 4545 307 ICRA LIMITED 1
TELECOM SECTOR F February 2015 Spectrum Auctions Incumbents to consolidate position; Debt metrics to deteriorate Fver Case for Payment Banks January 2015 ICRA RATING FEATURE Contacts: Sabyasach i Maju
More informationIndian Steel Industry
ICRA RESEARCH SERVICES Corporate Ratings Jayanta Roy +91 33 7150 1120 jayanta@icraindia.com Indian Steel Industry Safeguard duty likely to have a limited impact on domestic prices Priyesh Ruparelia +91
More informationINDIAN BROKERAGE INDUSTRY
ICRA RESEARCH SERVICES INDIAN BROKERAGE INDUSTRY Financial Sector Ratings ICRA RATING FEATURE Contacts: Karthik Srinivasan +91 22 6179 6365 karthiks@icraindia.com Vibha Batra +91 124 4545 302 vibha@icraindia.com
More informationNew Capital Adequacy Framework under Basel II Guidelines
New Capital Adequacy Framework under Basel II Guidelines ICRA s Line of Credit Rating Products ICRA Limited An Associate of Moody's Investors Service www.icra.in ABOUT ICRA ICRA Limited (formerly Investment
More informationIndian Mining and Construction Equipment Industry Demand revival still appears couple of quarters away
ICRA RESEARCH SERVICES Indian Mining and Construction Equipment Industry Demand revival still appears couple of quarters away Corporate Ratings Contacts: Subrata Ray +91 22 6169 3300 subrata@icraindia.com
More informationHow To Rate Power Finance Corporation (Pfc)
Power Finance Corporation Limited Rating History Instrument Rs. 43500 crore ( enhanced from 27,500 cror Long Term Borrowing Programme 20- #$ Rs. 5000 crore (enhanced from Rs. 3,000 cror Short Term Borrowing
More informationIndian Automobile Industry
Indian Automobile Industry CCI s proposed penalty on Passenger Vehicle OEMs not materially credit negative Special Comment September 2014 ICRA RESEARCH SERVICES ICRA Comments Corporate Ratings Anjan Deb
More informationGMR Hotels and Resorts Limited
GMR Hotels and Resorts Limited ICRA has assigned an LBBB(SO) (pronounced as L Triple B Structured Obligation) rating to the Rs. 140 crore term loan programme of GMR Hotels and Resorts Limited (GHRL). The
More informationIFMR Capital Finance Private Limited
IFMR Finance Private Limited ICRA has upgraded/reaffirmed the ratings of PTCs (Pass Through Certificates) in case of 4 transactions backed by Multi-Originator micro loan pools. The rating upgrade reflects
More informationNew SEBI guidelines on sectoral investment caps for funds could impact funding costs for HFCs and NBFCs adversely
October 2012 ICRA RATING FEATURE OCT 2012 New SEBI guidelines on sectoral investment caps for funds could impact funding costs for HFCs and NBFCs adversely ICRA Rating Feature Contacts Karthik Srinivasan
More informationIndian Telecommunication Equipment Market- Opportunities for US Companies
Indian Telecommunication Equipment Market- Opportunities for US Companies Overview With more than 638 million-line telephone network (fixed plus cellular) India is among the top 4 networks in the world.
More informationClaims Paying Ability Ratings for General Insurance Companies
Claims Paying Ability Ratings for General Insurance Companies ICRA's Claims Paying Ability Ratings (CPRs) for general insurance companies are opinions on their ability to honour policy-holder claims and
More informationCORPORATE CREDIT RATINGS A Note on Methodology
October 2009 ICRA Rating Feature CORPORATE CREDIT RATINGS A Note on Methodology The basic objective of credit rating is to provide an opinion on the relative credit risk associated with the instrument
More informationGODREJ INDUSTRIES LIMITED
Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Fundamental Assessment ICRA EQUITY RESEARCH SERVICE GODREJ INDUSTRIES LIMITED Q2, FY12 Results Update Industry: Diversified November 14, 2011 Strong operating
More informationICRA RESEARCH SERVICES. INDIAN PHARMACEUTICAL INDUSTRY New Pricing Policy: An Update
ICRA RESEARCH SERVICES Corporate Ratings Subrata Ray +91 22 3047 0027 subrata@icraindia. com Shamsher Dewan +91 124 4545 328 shamsherd@icraindia. com INDIAN PHARMACEUTICAL INDUSTRY New Pricing Policy:
More informationICRA. Group ICRA. Enhancing Business Value through Intellectual Leadership
ICRA Enhancing Business Value through Intellectual Leadership Group ICRA Credit Rating, Grading Equity Research Management Consulting Software Solutions and Services Knowledge Process Outsourcing Research
More informationIndia s Retail Policy: Securing a Balance between the Physical Store and E-commerce. Dr. Mohua Banerjee, Ms. Rajashri Chatterjee IMI Kolkata, India
India s Retail Policy: Securing a Balance between the Physical Store and E-commerce Dr. Mohua Banerjee, Ms. Rajashri Chatterjee IMI Kolkata, India Introduction Indian retail sector has been in a state
More informationRating Methodology for Fast Moving Consumer Goods Industry
October 2015 ICRA Rating Methodology ICRA RATING FEATURE Rating Methodology for Fast Moving Consumer Goods Industry Overview The following note identifies the key factors considered by ICRA in assessing
More informationRoadmap for Ind-AS implementation
Tax Insights from India Tax & Regulatory Services Roadmap for Ind-AS implementation January 7, 2015 In brief In his maiden Budget speech, the Finance Minister indicated that the Indian Accounting Standards
More informationPayroll Services. kpmg.com/in
Payroll Services kpmg.com/in Payroll is a very important function for any organization after all, it determines the take home pay of its employees! Due to its sheer sensitivity, it is a service with no
More informationAhmedabad. Bangalore. Chandigarh. Charles Sturt University Curtin University CQUniversity Deakin University James Cook University - Brisbane
Branch Ahmedabad Bangalore Chandigarh Cities Curtin University Chennai Coimbatore Curtin University Delhi Hyderabad Australian Catholic University Kochi Kolkata Ludhiana Curtin University Mumbai Pune Vadodara
More informationNEW CERC REGULATIONS TO ENCOURAGE INVESTMENT, EFFICIENCY IN POWER SECTOR
ICRA Rating Feature January 2009 NEW CERC REGULATIONS TO ENCOURAGE INVESTMENT, EFFICIENCY IN POWER SECTOR Contact Anjan Ghosh Head, Corporate Ratings aghosh@icraindia.com +91-22-30470006 Sabyasachi Majumdar
More informationAn overview. Ind AS: India s accounting standards converged with the IFRS are here!
An overview Ind AS: India s accounting standards converged with the IFRS are here! Notification of Rules for Ind AS implementation Consistent with its January 2015 announcement, the Ministry of Corporate
More informationCBDT notifies new income-tax return forms for Assessment Year 2016-17
15 April 2016 CBDT notifies new income-tax return forms for Assessment Year 2016-17 The Central Board of Direct Taxes (CBDT) has notified 1 the revised Income Tax Return (ITR) forms for Assessment Year
More informationIndian foreign investment policy reforms
KPMG FLASH NEWS KPMG in India 13 November 2015 Indian foreign investment policy reforms Background The Government of India (GoI) has in the last few months launched a series of initiatives which focussed
More informationCalculating expected return on investment using Capital Asset Pricing Model
Calculating expected return on investment using Capital Asset Pricing Model Calculating expected return on investment using Capital Asset Pricing Model Introduction: In a valuation exercise, the discounting
More informationThe Return of Depression Economics By Paul Krugman: W.W. Norton & Company, New York, 1999
The Return of Depression Economics By Paul Krugman: W.W. Norton Company, New York, 1999 I C R A B U L L E T I N RAJA J. CHELLIAH This book by the well-known M.I.T. Professor of Economics, written with
More informationKPMG FLASH NEWS. Background. Facts of the case. 26 June 2015. KPMG in India
KPMG FLASH NEWS KPMG in India 26 June 2015 Restoration services relating to transmission of data and telecommunication traffic are not taxable as FTS. Income reasonably attributable to business operations
More informationKPMG FLASH NEWS. Background. Facts of the case KPMG IN INDIA. 27 August 2012
KPMG FLASH NEWS KPMG IN INDIA Buy-back of shares by an Indian company from a Mauritian company is not a tax avoidance scheme. Further there is no capital gain tax under India- Mauritius tax treaty 27 August
More informationPlace of Provision of Service Rules
Place of Provision of Service Rules October 2012 Pratik Jain Partner, KPMG Framework Statutory provisions Section 66C read with section 94(2)(hhh) of Finance Act, 1994 Replacing Rules under erstwhile regime
More informationKPMG Flash News 25 May 2011
KPMG IN INDIA KPMG Flash News 25 May 2011 TAX Interest earned on Income-tax refund from tax department cannot be considered as arising from indebtedness that is effectively connected with Permanent Establishment
More informationSharing insights. News Alert 8 June, 2011
www.pwc.com/in Sharing insights News Alert 8 June, 2011 Reimbursement of salary costs to Group company pertaining to seconded employees is taxable as fee for included services. In brief In a recent ruling,
More informationCapital gains arising from sale of shares of Sri Lankan Company are not taxable in India under India-Sri Lanka tax treaty
KPMG FLASH NEWS KPMG IN INDIA Capital gains arising from sale of shares of Sri Lankan Company are not taxable in India under India-Sri Lanka tax treaty 13 August 2012 Background Recently, the Chennai Bench
More information...and at the same time adversely impacting the profitability of Upstream gas producers
ICRA Rating Feature October 2015 Second consecutive reduction in domestic gas price: Positive for user industries, however dampener for gas production Analyst Contacts K. Ravichandran ravichandran@icraindia.com
More informationHow To Meet The Mhp Requirement
STRUCTURED FINANCE Rating Feature 7 ICRA RATING FEATURE May 2012 RBI FINAL GUIDELINES ON SECURITISATION AND DIRECT ASSIGNMENT TRANSACTIONS TO ADVERSELY IMPACT VOLUMES IN THE NEAR TERM Contacts Structured
More informationKPMG Flash News 13 October 2011
KPMG IN INDIA KPMG Flash News 13 October 2011 TAX Right to exercise an option to sell stock allotted under the Employee Stock Option Plan (held through a Trust) to be considered as a capital asset. Background
More informationQuarterly Report. For the Quarter ended December 2014
Quarterly Report For the Quarter ended December 2014 As on 31 December, 2014 Section I Economic & Real Estate Current Status A key development during the last few months has been the ~55% decline in international
More informationMerger of ING Vysya Bank with Kotak Mahindra Bank
Merger of ING Vysya Bank with Mahindra Bank Significant Complementarity and Growth Potential Benefits To All Stakeholders November 20, 2014 The Transaction The Board of Directors of ING Vysya and have
More informationMarsh India. Be Risk confident. Marsh Helps companies to optimize their approach to Managing Risk and insurance
Marsh India Be Risk confident Marsh Helps companies to optimize their approach to Managing Risk and insurance Changing Reality of Risk Globalization, Terrorism, Litigation, Natural Catastrophes, Business
More informationBUDGET 2 16 Understanding the Business Impact
BUDGET 2 16 Understanding the Business Impact Impact on Foreign Portfolio Investors (FPIs) February 2016 www.deloitte.com/in The Finance Minister presented the Union Budget for the fiscal year 2016-17
More informationIndia Luxury Housing Market Analysis
Brochure More information from http://www.researchandmarkets.com/reports/2192697/ India Luxury Housing Market Analysis Description: India is blessed with one of the fastest growing real-estate markets
More informationPayments for website hosting cannot be treated as Royalty under the Incometax Act or India-USA tax treaty
KPMG FLASH NEWS KPMG IN INDIA Payments for website hosting cannot be treated as Royalty under the Incometax Act or India-USA tax treaty 22 March 2012 Background Recently, the Mumbai Bench of the Income-tax
More informationExternal Commercial Borrowings Policy Revised framework
KPMG FLASH NEWS 4 December 2015 KPMG in India External Commercial Borrowings Policy Revised framework Background The Reserve Bank of India (RBI) has revised the framework for overseas borrowing. The framework
More informationBrickwork Ratings B - S c h o o l a n d E n g i n e e r i n g C o le g e G r a d i n g
Brickwork Ratings Brickwork Ratings PROMOTER / INVESTOR Strategic Partnership with a Hundred Year Old Bank APPROVED BY Wholly Owned by Reserve Bank of India with MOU 20 BANKS Governance Structure Infrastructure
More information12 TYPICAL CAUSES OF EMPLOYEE TURNOVER
NRV OutSourcing BPO Definition :- Business process outsourcing (BPO) can be defined as the transfer of an organization s entire non-core but critical business process/function to an external vendor who
More informationSphere Global Services Limited
Sphere Global Services Limited Date: 13 th January, 216 Stock Performance Details Shareholding Details September 215 Current Price : ` 3.95^ Face Value : ` 1 per share 52 wk High / Low : ` 9.35 / 31.1
More informationSharing insights. News Alert 8 June, 2012. Weighted deduction available for R&D expenditure incurred outside the approved facility;
www.pwc.com/in Sharing insights News Alert 8 June, 2012 Weighted deduction available for R&D expenditure incurred outside the approved facility; Profit of tax holiday unit computed by considering actual
More informationKPMG Flash News 18 February 2011
KPMG IN INDIA KPMG Flash News 8 February 20 TAX Availability of credit of expenses Background With the introduction of Cenvat Credit Rules in 2004 ( the Credit Rules ), cross credit between Service tax
More informationCity Wise Client Participation List
City Wise Client Participation List Branch Name Ahmedabad Institute Name Study Group-Australia & UTS : Insearch Total number of participants 15 Bangalore Bond Univevrsity Study Group-Australia and Charles
More informationMerger of ING Vysya Bank with Kotak Mahindra Bank
Merger of ING Vysya Bank with Kotak Mahindra Bank Significant Complementarity and Growth Potential Benefits To All Stakeholders 20 November 2014 The Transaction The Board of Directors of ING Vysya and
More informationKPMG Flash News 24 March 2011
KPMG IN INDIA KPMG Flash News 24 March 2011 TAX Delhi High Court rules that taxability in the context of waiver of loan amount would depend upon the purpose for which the loan was taken Recently, the Delhi
More informationIndia Solid Waste Management Vehicles Market Forecast and Opportunities, 2019
Brochure More information from http://www.researchandmarkets.com/reports/2931908/ India Solid Waste Management Vehicles Market Forecast and Opportunities, 2019 Description: In India, municipal corporations
More informationClaims Paying Ability Rating Methodology for Insurance Companies
Claims Paying Ability Rating Methodology for Insurance Companies CARE s Claims Paying Ability (CPA) rating is an opinion on an insurance company s financial strength and measures its ability to honour
More informationImplications of Companies Act, 2013 Mergers and Restructuring
Implications of Companies Act, 2013 Mergers and Restructuring The Companies Act, 2013: An overview The Companies Act, 2013 ( 2013 Act ), enacted on 29 August 2013 on accord of Hon ble President s assent,
More informationSharing insights. News Alert 9 February, 2012. Tax issues relating to assignment of keyman insurance policy to a keyman. In brief.
www.pwc.com/in Sharing insights News Alert 9 February, 2012 Tax issues relating to assignment of keyman insurance policy to a keyman In brief The Delhi High Court (HC), while considering a batch of appeals
More informationKPMG Flash News 7 July 2011
KPMG IN INDIA KPMG Flash News 7 July 2011 TAX Payment made for online banner advertisement on the portal of a foreign company is not taxable as royalty Recently, the Mumbai Bench of the Income-tax Appellate
More informationRunning to Stand Still
July 2009 : Running to Stand Still Author(s): Sandeep Hebbar shebbar@omadvisory.com Contact: Om Advisory, 189, Block 19, Jeevan Mitra, JP Nagar, Phase 1, Bangalore - 560078 support@omadvisory.com Ph: +91-80-26655461
More informationRating Methodology for Rating of Mutual Fund-Infrastructure Debt Funds- (MF-IDF)
Rating Methodology for Rating of Mutual Fund-Infrastructure Debt Funds- (MF-IDF) I] Definition and Rating Process CARE s ratings of infrastructure debt fund schemes are an opinion on the asset selection
More informationIn this policy, the investment risk in the investment portfolio is borne by the policyholder. Type of Cover Basic Standard Enhanced
The road to your financial goals has many twists, turns and probably a few unexpected roadblocks. You need a plan that balances your savings and protection needs with ease, along with the benefit of liquidity
More informationWelcome to Apollo Munich Health Insurance Co. Ltd.
Welcome to Apollo Munich Health Insurance Co. Ltd. Factors Increase in Lifestyle Diseases Why Health Insurance? Urban spending in healthcare will increase due to a variety of factors Healthcare Spend in
More informationOur services Entry Strategy Services Deals Services Corporate finance Due diligence Valuation services Post-merger integration
Korea Business Desk South Korea is a special strategic partner of India and the strengthening of economic relations between the two nations has led to a major expansion in investments. PwC s Korea Business
More informationHow To Know If Crude Oil Prices Will Fall In India
Apr-08 Jul-08 Oct-08 Jan-09 Apr-09 Jul-09 Oct-09 Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul-13 Oct-13 Jan-14 Apr-14 Jul-14 Oct-14 US$/bbl ICRA
More informationGrievance Management
APOLLO MUNICH HEALTH INSURANCE COMPANY LIMITED ApoIIo Munich HEALTH in R NC'L Grievance Management Procedural Code 2/16/2009 Contents Process & Organization Support... 3 Address of Corporate Office & Branch
More informationWelcome to Apollo Munich Health Insurance Co. Ltd.
Welcome to Apollo Munich Health Insurance Co. Ltd. Factors Increase in Lifestyle Diseases Why Health Insurance? Urban spending in healthcare will increase due to a variety of factors Healthcare Spend in
More informationWelcome to Apollo Munich Health Insurance Co. Ltd.
Welcome to Apollo Munich Health Insurance Co. Ltd. Factors Increase in Lifestyle Diseases Why Health Insurance? Urban spending in healthcare will increase due to a variety of factors Healthcare Spend in
More informationConsideration received for executing turnkey contract not taxable in India in absence of PE in India
from India Tax & Regulatory Services Consideration received for executing turnkey contract not taxable in India in absence of PE in India February 3, 2016 In brief In a recent decision in the case of a
More informationResidential Real Estate in Hyderabad
Brochure More information from http://www.researchandmarkets.com/reports/616038/ Residential Real Estate in Hyderabad Description: Introduction The Indian economy has registered growth of 8.7% for FY08
More informationSharing insights. News Alert 12 August 2013. HC holds in favour of expatriate taxpayers on taxability of several items. In brief. www.pwc.
www.pwc.in Sharing insights News Alert 12 HC holds in favour of expatriate taxpayers on taxability of several items In brief The Delhi High Court (HC) has recently delivered a judgement in the case of
More informationIndia Central Europe Business Forum Investment Opportunities in India: Emerging Perspective
India Central Europe Business Forum Investment Opportunities in India: Emerging Perspective INVEST INDIA The official Investment Facilitation Agency for India A not-for-profit joint venture DIPP, Ministry
More informationList of Nodal Officers for Public Grievances in Public Sector Banks
List of Nodal Officers for Public Grievances in Public Sector Banks S.No. Name of the Name and Contact Details of Nodal Officers Bank 1. Allahabad Bank Sri V.K.Chawla (IRM) Allahabad Bank, Head Office
More informationRating Methodology for Auto Component Manufacturers
June 2016 June 2016 ICRA Rating Feature Rating Methodology for This rating methodology updates and supersedes ICRA's earlier methodology note on the sector, published in August 2009. While this revised
More informationTRIPARTITE AGREEMENT BETWEEN STOCK BROKER, SUB - BROKER AND CLIENT
TRIPARTITE AGREEMENT BETWEEN STOCK BROKER, SUB - BROKER AND CLIENT This Agreement (hereinafter referred to as Agreement ) is entered into on this day of 20, by and between M/s. First Global Stockbroking
More informationFAQs on Securities and Exchange Board of India (Listing of Specified Securities on Institutional Trading Platform) Regulations, 2013
FAQs on Securities and Exchange Board of India (Listing of Specified Securities on Institutional Trading Platform) Regulations, 2013 Q.1. What is an Institutional Trading Platform and is it different from
More informationIndian Telecom Tower Industry: Consolidation Round the Corner
Indian Telecom Tower Industry: Consolidation Round the Corner Contacts Anjan Ghosh aghosh@icraindia.com +91-22-30470006 Vikas Agarwal vikas@icraindia.com +91-124-4545300 Harsh Jagnani harshj@icraindia.com
More informationSharing insights. News Alert 21 June, 2012. Supplementary Memorandum on official amendments moved in the Finance Bill, 2012
www.pwc.com/in Sharing insights News Alert 21 June, 2012 Supplementary Memorandum on official amendments moved in the Finance Bill, 2012 The Finance Act, 2012 (Finance Act) received the President s assent
More informationE-commerce in India Response to Discussion Paper circulated by DIPP. Amit Prabhu
E-commerce in India Response to Discussion Paper circulated by DIPP Amit Prabhu Disclaimer The author is a Chartered Accountant, working as senior finance executive in a Private Enterprise. The views expressed
More informationCost Management for Sustainable Project Success
Cost Management for Sustainable Project Success Creating Value based on Values Vincom Cost Management Pvt Ltd About Us Vincom Cost Management was established by Mr. Vinod Markanda, B Arch,PG in Town Planning,
More informationPrepare for success in the real world with practical learning. Presenting Certification in Equity Trading and Investment.
Prepare for success in the real world with practical learning. Presenting Certification in Equity Trading and Investment. About ICICIdirect Centre for Financial Learning: ICICIdirect Centre for Financial
More informationWelcome to Apollo Munich Health Insurance Co. Ltd.
Welcome to Apollo Munich Health Insurance Co. Ltd. Factors Increase in Lifestyle Diseases Why Health Insurance? Urban spending in healthcare will increase due to a variety of factors Healthcare Spend in
More informationSmruthi Organics Limited BSE Scrip Code: 590046
Smruthi Organics Limited BSE Scrip Code: 590046 Pharmaceuticals September 21, 2012 Equity Statistics Current Market Price Rs. 218.1 52 Week High / Low Rs. 273.9 / 155 Market Capitalisation Rs. crores 83.2
More informationQE, Credit Markets and Bubbles
Spring 2014 QE, Credit Markets and Bubbles David Zervos Chief Market Strategist dzervos@jefferies.com +1 212 323 7586 US Monetary Base 4.5 4 3.5 QE3 3 Trillion USD 2.5 2 QE2 1.5 QE1 1 0.5 Operation Twist
More informationWelcome to Apollo Munich Health Insurance Co. Ltd.
Welcome to Apollo Munich Health Insurance Co. Ltd. Factors Increase in Lifestyle Diseases Why Health Insurance? Urban spending in healthcare will increase due to a variety of factors Healthcare Spend in
More informationAn insurance plan with the advantage of Liquidity
An insurance plan with the advantage of Liquidity CashBak In your life, you always look forward to certain milestones. It may be the birth of a child in your family, the education of your children or purchasing
More informationKPMG FLASH NEWS. Background. Facts of the case KPMG IN INDIA. 22 August 2012
KPMG FLASH NEWS KPMG IN INDIA Transfer of shares in Indian company by a Mauritius holding company to a Singapore company as a part of internal re-structuring is not liable to capital gains tax under the
More informationThe Asset. Allocation Guide To. Wealth Creation. Absolute Return. Gold. Vehicle. Real Estate. Tax. An Investor Education Initiative by.
The Asset Allocation Guide To Wealth Creation Real Estate Cash Reserves Vehicle Education Gold Tax Funds Food Car Equities Bonds House Precious Metals Fixed Income Natural Resources Absolute Return Understanding
More informationPolicy for Withdrawal of Credit Ratings
Policy for Withdrawal of Credit Ratings Issued by: MIS Compliance Department Applicable to: All MIS Employees and Moody's Shared Services Employees involved in the Ratings Process Effective Date: October
More information