Tag: Indian Economy
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Implications of Granting Infrastructure Status to the Logistics Sector
[Harini Sutaria is a final year student at ILS Law College, Pune] Introduction In a bid to boost the logistics sector in the country, the Government has granted it an infrastructure status. This grant of status is a positive move by the Government and is an acknowledgement of the growing dependency of the success of other industries…
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The Impact of Demonetization on the Corporate Sector
[Posted by Umakanth Varottil] Professors Dhammika Dharmapala and Vikramaditya S. Khanna have posted a working paper titled “Stock Market Reactions to India’s 2016 Demonetization: Implications for Tax Evasion, Corruption, and Financial Constraints”, the abstract of which is as follows: On November 8, 2016, the Indian government made a surprise announcement that certain currency notes (representing…
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RBI revises overseas investment norms
[Posted by Satyajit Gupta] The RBI has just announced the following measures today: (i) It has reduced the limit for Overseas Direct Investment (ODI) under automatic route for all fresh ODI transactions, from 400% of the net worth of an Indian Party to 100% of its net worth. These provisions shall come into effect with…
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The Impact of Tightening Financial Regulation
[Posted by Umakanth Varottil] The last week has witnessed tighter financial regulations emerging out of the U.S. and European markets. While some of the reforms are expected to result in migration of investments into more liberal markets in Asia (including India), others represent introduction of stringent measures that are already in place in India. Possible…
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Electoral Verdict to Spur Reforms
[Posted by Umakanth Varottil] With the return of the Congress government to power and with Dr. Manmohan Singh set to continue as Prime Minister, corporate India is likely to witness a series of reforms in the near future. Unlike the previous stint where the Government was hamstrung by coalition politics (but nevertheless achieving a record…
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FDI and Globalisation: Where Does India’s Policy Stand?
[Posted by Umakanth Varottil] (This is a cross-post from the Law and Other Things Blog) The theme for the January 2009 issue of Halsbury’s Law Monthly is Foreign Direct Investment (FDI) and Globalisation. The issue carries two articles that generally deal with FDI and three that specifically discuss issues on Indian policy. The first, an…
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Legal and Economic Fallout of Mumbai Attacks
[Posted by Umakanth Varottil] The key question being posed in legal and financial circles relates to the extent of insurance coverage for loss caused by terror attacks, and also the related liability of various state and private actors involved. In a column in Rediff Money, Kumkum Sen highlights possible issues on liabilities, both civil and…
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Doing Business Report & India’s Performance
[Posted by Umakanth Varottil] Earlier this week, the World Bank and its investment arm, the International Finance Corporation, published the Doing Business Report 2009. In this report, they rank a total of 181 countries in the world based on “tracking reforms aimed at simplifying business regulations, strengthening property rights, opening up access to credit and…
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Research Paper: Achieving India’s Growth Potential
[Posted by Umakanth Varottil] Just as the Indian economy reels from its double-digit inflation to the tune of approximately 11%, Goldman Sachs, the leading investment bank, has issued its latest research paper titled Ten Things for India to Achieve its 2050 Potential. This is part of a series of papers published over the last few…
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Role of Law and Politics in India’s Economic Growth
[Posted by Umakanth Varottil] There is a recent paper titled “Law, Finance, and Politics: The Case of India” by John Armour and Priya Lele that has been posted on SSRN. The authors join the debate as to whether a country’s legal origins (e.g. common law or civil law) necessarily have an impact on the extent…