| | | Weekly business and foreign investment news roundup in Asia by Asia Briefing and Dezan Shira & Associates. |
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| TOP STORIES THIS WEEK: | | Free Trade Warehousing Zones in India | | FTWZs are essentially designated areas in SEZs that allow businesses to import, store, and re-export goods without paying customs duties and taxes. These zones facilitate various warehousing services, such as packaging, inspection, sorting, and kitting, and provide numerous advantages to businesses engaged in cross-border trade. | | | | India’s PAN 2.0 Project: All You Need to Know | | India’s union cabinet has approved the PAN 2.0 project, an upgrade to the current Permanent Account Number (PAN) system, which aims to digitally enhance taxpayer services and simplify business processes. | | | | India’s Data Center Industry: Poised for a 66 percent Growth Surge by 2026 | | India’s data center industry is on a growth trajectory, propelled by advancements in artificial intelligence (AI), and its financial hub, Mumbai, is expected to lead in the number of data centers nationwide. | | | | India’s RBI Introduces Framework for Converting FPI to FDI in Indian Companies | | The Reserve Bank of India (RBI) has streamlined the process for Foreign Portfolio Investors (FPIs) to reclassify their holdings as Foreign Direct Investment (FDI) if their stake in an Indian company exceeds 10 percent. | | | | GST Amnesty Scheme from November 1, 2024: Key Compliance Details | | India’s new GST amnesty scheme, effective from November 1, 2024, waives interest and penalties for non-fraudulent GST demands from 2017-18 to 2019-20. Tax must still be paid, with payments due by March 31, 2025, and waiver applications submitted online by June 30, 2025. | | | | India-Russia Economic Partnership: Strengthening Ties Across Trade and Investment | | The Chennai-Vladivostok Eastern Maritime Corridor (EMC) has officially become operational, facilitating the transport of oil, food, and machinery boosting the scope of bilateral trade between India and Russia. The EMC significantly reduces cargo transport time between India and Far East Russia by up to 16 days, from 40 to 24 days, and shortens the distance by approximately 40 percent. | | | | India-South Africa Bilateral Trade and Investment | | Strong bilateral ties between India and South Africa offers immense opportunities, particularly in renewable energy, technology, manufacturing, and agriculture. Aligned interests under the BRICS and IBSA frameworks create a promising environment for trade, entrepreneurs, and investors. |
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| COMPLIMENTARY BUSINESS RESOURCES: | | | | A Navigating India’s Export-Import Landscape: Customs, Trading, and Industrial Clusters | | This India Briefing Magazine edition explores India’s evolving trade landscape, covering regulatory reforms, manufacturing clusters, and trade partnerships. It provides insights into structuring trading entities, leveraging industrial hubs for export production, and diversifying markets to boost competitiveness and mitigate geopolitical risks. | | | | | | The ASEAN education market offers substantial foreign investment opportunities, driven by economic growth and reforms. This issue of ASEAN Briefing explores government initiatives to attract investments, highlighting emerging opportunities in Indonesia, Malaysia, Thailand, and Vietnam. | | | | Vietnam's Logistics Landscape: Navigating a Transforming Sector | | This publication aims to provide readers with an in-depth analysis of Vietnam’s rapidly evolving logistics sector, highlighting its current performance, emerging trends, opportunities for growth, and policy recommendations. |
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| UPCOMING EVENTS FOR ASIA: | | Expanding Your Business in India’s E-Commerce Sector: Strategies, Trends, and Compliance Insights | | Webinar | Monday, December 16, 2024 | 2:30 PM India / 4:00 PM Vietnam / 5:00 PM China | | | | Singapore’s 2025 Economic Outlook: Opportunities and Challenges Amid a Shifting Global Landscape | | Webinar, Thursday, December 05, 2024, 4:00 PM Singapore / 3:00 PM ICT / 9:00 AM CET | | | | U.S. Companies in Dubai: Mastering Financial, Tax, and Compliance Essentials | | Webinar | Thursday, December 5, 2024 | 9:00 AM Los Angeles / 12:00 PM New York |
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