Some Good News
India Good News
Finance Minister Nirmala Sitharaman announces US$2.8bn fund for stuck realty projects. In major boost to the real estate sector, which has been under major stress over the past five years, the finance ministry announced a US$2.8bn special fund for stuck projects in middle and affordable housing segments
14 September 2019
Government announces sweeping tax reforms to boost economy. The government announced the most radical tax cut in India’s history, with a reduction from 30% to 22% for domestic manufacturing companies and a reduction from 25% to 15% for new manufacturing firms.
20 September 2019
UK FinTech companies want to enter Indian start-up sandboxes. India’s financial regulators are in process of allowing UK FinTech start-ups to experiment in “sandboxes” that will offer them temporary regulatory protection, a move which is expected to increase UK investment in India.
22 September 2019
India’s corporate tax cut to boost smartphone manufacturing. India’s recently announced lower corporate tax rate is expected to enable the smartphone industry to expand, fuel R&D investment and attract higher-value component makers that do not already have a presence in the country.
23 September 2019
Mylan to invest US$1bn in India over six years. Mylan has said it will invest US$1bn in the next 5-6 years on capital expenditure in India, given the importance of the country’s position in world pharma supply-chain.
29 September 2019
Q3 sees highest funds raised in 2019 at US$2.5bn. Indian companies raised a record US$2.5bn in capital during Q3 2019, with the growth in fundraising indicating that venture investors continue to remain bullish on Indian companies despite concerns of a slowdown in the economy.
30 September 2019