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Destination India

Destination India

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Publicado pordeputykrishan
India has long been known for the diversity of its culture, for the inclusiveness of its people and for the convenience of geography. Today, the world’s largest democracy has come to the forefront as a global resource for industry in manufacturing and services. Its pool of technical skills, its base of an
English-speaking populace with an increasing disposable income and its burgeoning market have all combined to enable India emerge as a viable partner to global industry. Investment opportunities in India are today perhaps at a peak. Supported by natural strengths, India offers investment opportunities in excess of US$850 billion in diverse sectors over the next five years.
The Government of India is committed to enabling foreign investors discover
India as a partner - with whom they can work in synergy to achieve their objectives of growth and profitability.
India has long been known for the diversity of its culture, for the inclusiveness of its people and for the convenience of geography. Today, the world’s largest democracy has come to the forefront as a global resource for industry in manufacturing and services. Its pool of technical skills, its base of an
English-speaking populace with an increasing disposable income and its burgeoning market have all combined to enable India emerge as a viable partner to global industry. Investment opportunities in India are today perhaps at a peak. Supported by natural strengths, India offers investment opportunities in excess of US$850 billion in diverse sectors over the next five years.
The Government of India is committed to enabling foreign investors discover
India as a partner - with whom they can work in synergy to achieve their objectives of growth and profitability.

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Published by: deputykrishan on Sep 10, 2009
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India has an exhaustive legal framework governing all aspects of business. Some of the important legislations include:

Arbitration and Conciliation Act, 1996

Act relating to alternative in redressal of disputes amongst parties.

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Central Excise Act, 1944

Act governing duty levied on manufacture.

Companies Act, 1956

Act governing all corporate bodies.

Competition Act, 2002

Act to ensure free and fair competition in the market.

Consumer Protection Act, 1986

Act relating to the protection of consumers from unscrupulous traders/manufacturers.

Customs Act, 1962

Act dealing with import regulations.

Customs Tariff Act, 1985

Act that has put in place a uniform commodity classification code based on globally adopted system of nomenclature for
use in all trade-related transactions.

Electricity Act, 2003

Act that regulates generation, transmission, distribution, trading and use of electricity and generally for taking measures
conducive to the development of the electricity industry, promotion of investment and competition, protection of the
interests of consumers and the assured supply of electricity to all areas.

Environment Protection Act, 1986

Act providing the framework for seeking environmental clearances.

Factories Act, 1948

Act regulating labour in factories.

Foreign Exchange Management Act, 1999

Act regulating foreign exchange transactions including foreign investment.

Income Tax Act, 1961

Act governing direct taxes on income of all persons, both corporate and non-corporate as well as residents and
non-residents.

Industrial Disputes Act and Workmen Compensation Act

Labour laws dealing with disputes.

Industries (Development & Regulation) Act, 1951

Act governing all industries.

Information Technology Act, 1999

Act governing e-commerce transactions.

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Policies and laws

Preventing of Money Laundering Act

Act preventing money laundering and providing for confiscation of property derived from, or involved in, money
laundering.

Patent (Amendments) Act, 2004

The Act amends the Patent Act, 1970 to extend the product patent protection to all fields of technology, including drugs,
foods and chemicals.

Central Sales Tax Act, 1956

Act governing the levy of tax on sales. Each state has legislation on Value Added Tax (VAT).

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002

Act seeking to put in place securitisation and asset foreclosure laws creating a legal framework for the establishment of
Asset Reconstruction Companies.

The Special Economic Zones Act, 2005

Provides a long-term, stable policy framework and establishes a single-window clearance mechanism for the establishment,
development and management of SEZs and units operating in such zones. An SEZ is a specifically delineated duty-free
enclave and shall be deemed to be foreign territory for the purposes of trade operations and duties and tariffs.

The major fiscal and economic incentives for SEZ units include 15-year income-tax exemption from the date of
commencement of operations, exemption of excise tax, sales tax and other levies on purchases from Domestic Tariff
Areas and access to cheaper global capital through Offshore Banking units.

The Act allows 100% FDI through automatic approval route in most sectors. Over 130 such SEZs have been formally
approved by the government of India.

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