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Govt. Launches Single Form to Register New Businesses
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In another move to make doing business in India easier, the Government has launched single-form registration for new businesses, reducing red tape in incorporation of firms from the currently required up to eight forms.
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Rules Relaxed for Foreign Investment in Real Estate
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The Cabinet relaxed rules to allow foreign funds to invest in real estate investment trusts, a move designed to boost the country's property sector. "The approval is expected to enable foreign investment inflows into the completed rent-yielding real estate projects, which is, as of now, prohibited," the Government said in a statement.
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Govt. OKs $780 Million in Tax-Free Bond Sale to Boost Solar Mission
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The Ministry of New and Renewable Energy has approved the sale of tax free-bonds worth $780 million to support the Government's solar mission. Proceeds from the bond sale will go toward low-interest loans to developers, who will use the funds to install roof-top solar panels.
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Govt. Board Gets Power to Back Foreign Investment Bids Up to $468 Million
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To speed the foreign direct investment clearance process, the Government has enhanced the Foreign Investment Promotion Board's powers to recommend foreign investment proposals of up to $468 million, more than double the current limit.
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Mega Food Park Rules Modified to Boost Investment
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The Government has approved some modifications in the guidelines of the mega food parkplan to boost investment in the food processing sector. The modifications, which include allowing Government agencies to hold more than 26 percent equity in the mega food park, would streamline the implementation of the plan.
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Time Magazine: Why Modi Matters
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Prime Minister Modi gave an exclusive interview to Time magazine and spoke on a wide range of topics, including India-U.S. relations, the Government's recent initiatives on economic reforms,and his ambitions for India.
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Amb. Arun K. Singh: Indian Firms Have Invested Nearly $17 Billion in U.S.
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Speaking to the U.S.-India Business Council, India's new ambassador to the U.S., Arun K. Singh, laid out India's recent economic progress, the easing of rules for doing business in the country and joint initiatives with the U.S. on a variety of fronts.
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IMF: India Is New Bright Spot in Asia
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"India a new bright spot in Asia, and its growth is expected to strengthen to 7.5 percent in 2015 and also 2016, benefitting from the recent policy reform announcements and lower oil prices. Early implementation of the reforms will reinforce confidence and increase potential growth," the IMF said in its Regional Economic Outlook for Asia and Pacific.
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Report: India's E-Learning Market 2nd Only to U.S.
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India has become the largest market for e-learning after the U.S., and the sector is expected to receive a boost from the Government's Digital India initiative, says a recent report by the U.K.-India Business Council. India is the world's third-largest market by Internet users, behind China and the U.S., according to industry estimates.
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India's Forex Reserves Soar to Record $352 Billion
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India's foreign exchange reserves soared by a massive $7.3 billion to a new high of $352 billion in the week ended May 1, the Reserve Bank of India reported, continuing their upward trend.
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