Business Law - Corporate Law Reporter

Clarification on FDI Policy on Facility Sharing Arrangements between Group Companies

CLR NOTES Analysis of Clarification dated 15th September, 2015 issued by Department of Industrial Policy & Promotion The Department of Industrial Policy and Promotion has issued a clarification dated 15th September, 2015 w.r.t. that whether Facility sharing arrangements between the group companies shall be construed as 'real estate' business activity or not. The department clarified that:… Read More

Modification of Import Export Code (IEC) to be online only from 21.09.2015

Government of India Ministry of Commerce & Industry Department of Commerce Udyog Bhawan, New Delhi Public Notice 36 /2015-2020 Dated the 14 September, 2015 Subject: Operationalisation of modification in IEC reg. The new format of online application form for issue/modification in IEC has been notified vide Public Notice No. 76 dated 27.11.2014. Subsequently online application… Read More

Govt. targets measures for ˜Ease of Doing Business in India™ to make India most preferred business destination

The Government of India has taken up a series of measures to improve Ease of Doing Business in respect of which Department of Industrial Policy and Promotion(DIPP) had issued a notice dated 11th August, 2015. The emphasis has been on simplification and rationalization of the existing rules and introduction of information technology to make governance more… Read More

Introduction of Composite caps for simplification of Foreign Direct Investment(FDI) Policy to attract Foreign Investments in various sectors

The Department of Industrial Policy and Promotion has issued a press note No. 8 (2015 Series) after reviewing the caps in FDI Policy on various sectors in the Consolidated FDI Policy Circular of 2015 which is in force from 12th May, 2015 by introducing various composite caps to ensure and bring up simplification and uniformity… Read More

Guidelines for permitting the use of ‘Make in India’ logo

GOVERNMENT OF INDIA Department of Industrial Policy & Promotion BE-III Division F. No.: 5(46)/2014-BE-III … Read More

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

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