India to Widen Scope for Currency Hedging by Foreign Investors
India is stepping up efforts to make its markets more attractive by allowing global investors to use derivatives more widely to limit losses from rupee swings. The Reserve Bank of India plans to let foreigners protect the interest income on local bond holdings for up to 12 months, it said in a statement.
|
|
Reserve Bank Eases Rules for Rough Diamond Imports
 Importers of rough diamonds can now send advance remittances to any overseas mining company, a reformist move designed to improve India's diamond-polishing market, the world's largest. Prior to the new rule, importers could send advance payments to only nine government-authorized miners.
|
Govt. Seeks Better Clarity on Manufactured Commodities Pricing
In an effort to better understand pure price changes in manufactured commodities without factoring in the effects of tax fluctuations, a high-level government committee has proposed doing away with the excise duty component on manufactured goods while computing the wholesale price index. The proposal is aimed at making the inflation numbers free of the changes in the duty structure announced in the budget each year.  |
Reserve Bank to Figure Exchange Rate Based On Consumer Inflation
 To improve India's competitiveness with international trading partners in currency exchange, the Reserve Bank will now compute the Real Effective Exchange Rate based on the Consumer Price Index, or consumer inflation, instead of the Wholesale Price Index, which had been previously used.
|
|
Have a business problem with India you need fixed?
Email us at
|
|
Deciding to focus on the cash-and-carry segment in India, retail giant Walmart plans to open 50 wholesale stores in the next four to five years. Following its breakup with former joint-venture partner the Bharti group, Walmart said it is also strengthening compliance procedures. "Wal-Mart is committed to India and we are excited about our growth plans," Walmart Asia President and CEO Scott Price.
The number of Indian tourists visiting the U.S. is likely to cross the 1 million mark in 2015, according to a report by the U.S. Commerce Department. India is the third fastest-growing source of tourists to the U.S., with the number of visits expected to rise 54 percent between 2013 and 2018.
