Category - Business Law

Release of Foreign Trade Policy 2015-20

HIGHLIGHTS OF THE FOREIGN TRADE POLICY 2015-2020 A. SIMPLIFICATION & MERGER OF REWARD SCHEMES Export from India Schemes: 1. Merchandise Exports from India Scheme (MEIS) (a) Earlier there were 5 different schemes (Focus Product Scheme, Market Linked Focus Product Scheme, Focus Market Scheme, Agri.Infrastructure Incentive Scrip, VKGUY) for rewarding merchandise exports with different kinds of duty scrips with varying conditions (sector… Read More

Govt. raises FDI in Insurance Sector to 49%

The government has raised the FDI cap in insurance from 26 to 49% through a notification issued by the DIPP. The limit is composite in nature as it includes foreign investment in forms of foreign portfolio investment, foreign institutional investment, qualified foreign investment, foreign venture capital investment and non-resident investment. The Insurance Bill, which has been… Read More

Multiple IEC’s issued against single PAN to be deactivated post 31st March, 2015

The Director General of Foreign Trade has issued a Public Notice dated 17th February, 2015 to provide a clarification on the Importer Exporter Code No.s (IEC) which have been issued against a single PAN No. and hence it requires some corrective action to maintain the data integrity and consistency with the policy. Therefore in exercise… Read More

Foreign Trade Policy for 2014-19 to be out by the end of this month

The Ministry of Commerce and Industry is expected to announce the new five-year foreign trade policy (2014-19) by the end of this month as it seeks to boost manufacturing and exports, among other things. The Director General of Foreign Trade is giving final touches to the policy. The new policy would focus on wide range… Read More

Foreign Direct Investment (FDI ) Policy (Circular 1 of 2014) dated 17th April,2014

The Consolidated FDI Policy (Circular 1 of 2014) was released by the Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industry, Government of India on 17th April 2014 , setting out the consolidated foreign direct investment (FDI) policy of India which comes into force with immediate effect. The New Policy supersedes the… Read More

Amendments in Chapter 3 of Foreign Trade Policy 2009-14

To be published in the Gazette of India Extraordinary Part II Section 3, Sub Section (II) Government of India Ministry of Commerce & Industry Department of Commerce Udyog Bhawan, New Delhi Notification No: 64 (RE-2013)/2009-2014 New Delhi, the   06  January, 2014  Subject: Amendments in Chapter 3 of Foreign Trade Policy 2009-14 S.O.(E) In exercise of… Read More

Tags: AsiaCustomsFile Transfer ProtocolGovernment of IndiaIndiaNew DelhiParaScrip

DGFT and Enforcement Directorate Sign MoU on Foreign Exchange Data Sharing

The Enforcement Directorate today signed a Memorandum of Understanding (MoU) with Director General of Foreign Trade (DGFT) for sharing of foreign exchange realization data. This data is also known as eBRC (Electronic Bank Realization Certificate) data. The Union Minister of Commerce and Industry Shri Anand Sharma presided over the ceremony in which Dr. Rajan Katoch,… Read More

Conditional exemption to exporters under the Essential Commodities Act, 1955

The Union Cabinet yesterday approved exemption to exporters having IEC Code issued by DGFT from the purview of stock holding limits under the Essential Commodities Act, 1955 with respect to edible oilseeds, edible oils and rice. This will help exporters benefit from economies of scale and bigger operation for optimally meeting export demands on a… Read More

Tags: BusinessCabinet of IndiaCooking oilDGFTEssential Commodities ActExportFood and Related ProductsGrains and LegumesImport and ExportInvestingTaiwanUnion CabinetVegetable oil

Policy on Foreign Direct Investment in the Pharmaceutical Sector

The Cabinet considered the proposal of the Ministry of Commerce and Industry, for review of the policy on foreign direct investment in the pharmaceutical sector. The Cabinet decided that the current policy in brownfield and greenfield projects in the pharmaceutical sector will continue subject to the additional condition that in all cases of FDI in… Read More

Tags: Brownfield landCabinetforeign direct investmentForeign Investment Promotion BoardGreenfield projectIndiaMinistry of Commerce & IndustryNon-compete clause

Foreign Direct Investment (FDI) in India Definition of ˜group company™ as per RBI Guidelines

RBI/2013-14/356 A.P. (DIR Series) Circular No.68 November 01, 2013 To All Category I Authorised Dealer banks Madam/Sir, Foreign Direct Investment (FDI) in India definition of ˜group company™ Attention of Authorised Dealer Category I (AD Category-I) banks is invited to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations,… Read More

Tags: Anno DominiCategories of New Testament manuscriptsCentral bankFederal Emergency Management Agencyforeign direct investmentForeign Exchange Management ActIndiaMinistry of Commerce & Industry

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