Walmart's JV with Bharti hinges on policy clarity
This year's deliberations, on October 9-14, come in the backdrop of the persisting crisis in Europe and the US and its apparent effects on India, China and other countries supposedly driving growth.
Many bureaucrats have in the recent past switched sides to join companies.
At least half a dozen such applications, including those from Celio, Gruppo Coin and Artsana, are in the works and are expected to be sent to the government in a few weeks.
The world's largest retail chain, the $446-billion Walmart, is likely to be the first international player to take off in India with its supermarket format. The Bentonville-based US giant is, in fact, ready with a network of 195 stores across India if it decides to extend its back-end and cash-and-carry partnership with Bharti Enterprises to front-end retail.
The company, now a part of the BBC Worldwide family, is eyeing the projected magic figure of 50 million outbound travellers (Indians travelling abroad) by 2020.
Group's hybrid direct selling format also confuses industry
Even as the Centre is working overtime to roll out FDI in retail while the real decision might rest with the states, Arvind Singhal, chairman, Technopak Advisors, often referred to as the poster boy of the Indian retail sector, said the so-called big-ticket measure was "not the most important thing"for the sector.
Chidambaram wants it reworked; GAAR controversy weighs on implementation.
The finance ministry has decided to bring in greater clarity in transfer pricing norms.
The sluggish market situation notwithstanding, Finance Minister P Chidambaram on Thursday clarified to ministry officials he wouldn't accept any slippage in the government's Budget divestment target of Rs 30,000 crore (Rs 300 billion) for this financial year.
Brand name rule might be waived for Swedish major's mega investment proposal, indicates DIPP; final revision of its application likely by end-August.
Regulator could consider additional avenues for promoter stake dilution.
Chidambaram had expressed unhappiness over the manner in which the two major contributors to the subsidy bill, petroleum and fertilisers, were handled prior to his appointment.
Sean F Foley, global leader of KPMG Transfer Pricing Services, who has also been an APA tax administrator for the American government agency, tells Business Standard companies are optimistic but cautious about the development.
Officials in the know indicate the Central Board of Direct Taxes might come out with a notification in due course, saying that cases that have reached finality would not be touched.
In an interview with Santosh Tiwari, Sebi Chairman U K Sinha also says he is not against consent orders, but is in favour of a predictable and transparent process.
The world's largest coffee chain, Seattle-based Starbucks, is close to hiring its India head. Tata Starbucks Limited, the $10.7-billion American group's joint venture with Tata Global Beverages, has zeroed in on Virag Joshi as managing director for India operations, according to market sources.
The first IKEA store in India is unlikely to come up during the second term of the United Progressive Alliance government, which ends in May 2014, as the euro 25-billion Swedish furniture major takes "years" to set up shop in a new country after securing the necessary approvals.
Pranab Mukherjee is likely to be advised on crucial issues by Omita Paul once he moves into Rashtrapati Bhawan, writes Santosh Tiwari.
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