30 October 2018

  |  CBI India

Update

CBI India Update October 2018

CBI India Update October 2018

As autumn sets in and the country enters the festive season, Delhi’s city dwellers woke up to the annual rise in pollution in the city’s air. Delhi’s air quality is the worst of any major city in the world, according to a recent study of 1600 cities worldwide by the World Health Organisation. Currently the Air Quality Index is 397, just three notches below ‘severe’. It is expected to get worse over the next two weeks especially after Diwali, the festival of lights.

Meanwhile, Prime Minister Narendra Modi has just returned from a state visit to Japan. One of the highlights include signing a $ 75 billion currency swap agreement. Read more on the visit.

On the UK-India front, this month, the UK Research and Innovation has been formally launched in India with series of events highlighting the successful history of collaboration between India and UK. Read more.

Read the India monthly report for September and October 2018 of the British High Commission.

Highlights include the latest G20 meeting coverage, an India-Bangladesh Free Trade Agreement and a World Bank report on South Asia titled ‘Glass Half Full’.

The CBI in India is supporting the India-UK FutureTech Festival to be held on 12 December 2018 in New Delhi. Find more information.

 

Here are some more highlights for the month

Rise in tax-GDP ratio to ten-year high

The Indian tax department reported a sharp rise in number of returns filed and tax payers over the last three years, indicating a growth of 6% which is a ten-year high in tax-GDP ratio. Read more.

Government plugs gaps in contract work rules

The union government has asked states to allow fixed term employment to all private companies, thereby plugging a gap which prevented most firms from benefitting from one of the biggest labour reforms in recent times. In March 2018, when fixed term contracts were announced by the Government of India, they were meant only for industries which operated in the ‘central’ spheres, i.e. sectors under the ambit of the central government. However, with the recent clarification, the states will be able to issue their own notifications on fixed term contracts on industries which work in sectors under their ambit.

Women in workforce: A work in progress

Read an update on the number of women in India's workforce.

India’s stand on RCEP

India has made some breakthrough in the Regional Comprehensive Economic Partnership talks a few months ago. The 16-nation group accepted some key demands from India: on differential tariff regimes for different country groups like China, and in allowing a 20-year implementation period of the agreement. Read more

 

MEMBER NEWSMAKERS

Vodafone Idea new merged entity’s focus

Vodafone Idea, the merged telecom entity will now focus on merging networks hone spectrum to enhance 4G LTE and VoLTE service in the country. Read more

Reckitt Benckiser keen to grow consumer health business in India

The UK-based health and hygiene company is open to acquiring brands or companies that will help expand its health and nutrition portfolio. Read more

Diageo India "Road to Safety - Towards Responsible Youth"

As part of its signature ‘Road to Safety’ campaign, Diageo India today announced its partnership with the Ministry of Road Transport & Highways (MoRTH) for a first of its kind targeted intervention ‘Towards Responsible Youth’ programme directed at early education of young drivers. The programme aims to reach over 500 universities across the country in the next 3 – 5 years; with the first-year target being 100 programmes across 50 universities. Read more

Tesco ties up with Indian Institute of Science

UK retail major Tesco has joined up with the prestigious Indian Institute of Science and Technology in Bangalore for a technology fellowship programme. Find our more on this initiative.

 

ON THE RADAR

Data localisation: a ready reckoner

Recently there has been considerable concern about an RBI mandated deadline to private firms on ‘data localisation’. To get a clearer picture on this issue, read an article which provides all information about this new regulation.

Have a happy and safe Diwali!