Source: Business Standard

DEPB scheme extended to May 2009
Commerce Minister Kamal Nath, in the Foreign Trade Policy 2004-09, today extended the Duty Entitlement Passbook Scheme (DEPB) scheme for exporters to May 2009. The scheme was originally to expire on March 31 this year, but was extended to the new financial year. Last month the Cabinet […]

Source: Press Trust of India

The government has cleared 12 Foreign Direct Investment (FDI) proposals that will bring in Rs 212 crore, of which the largest chunk will be by US-based Millennium India Acquisition Company.

Meanwhile, 13 proposals, including two from B A G Films, were deferred by the government, according to an official statement here.  
The US-based […]

Source: Securities and Exchange Board of India Press Release
In order to facilitate overseas investments by mutual funds in line with the announcement in the Union budget 2007-08, SEBI vide circular dated September 26, 2007 has increased the limit for overseas investment by each mutual fund from US $ 200 million to US $ 300 million. Further […]

Source:   Press Trust of India

Chennai, Jul 13 (PTI) Notwithstanding Bar Council of India’s opposition to the opening up of legal services as per the GATT agreement, some experts in the sector say it would lead to a boom, similar to that in the IT industry.   
A tremendous growth could be witnessed in corporate legal sector and […]

Source: Reuters India
NEW DELHI (Reuters) - India withdrew the additional customs duty on imported wines and spirits on Tuesday in an effort to resolve a dispute with the European Union and other leading trading partners over high duties on these items.
The EU and the United States had been pressing for a cut to wines and […]

Source: Business Standard
Multinational pharmaceutical company Sanofi Aventis and Debiopharm, SA has sued Dabur Pharma and its subsidiary, Dabur Oncology plc of UK, in a US court for challenging the patents on Sanofi’s Eloxatin, an injectable drug (Oxaliplatin)  used in the treatment of bowel cancer.
The case was filed in the US District Court for the District […]

Source: PTI 
According to the Press Trust of India, India’s largest and the world’s fifth largest wind power major, Suzlon Energy has revised its offer price for REpower Systems to 150 Euro per share, with an acquisition of 7.7 per cent stake in the German firm.
The company has purchased 627,000 shares constituting 7.7 per cent of the […]

Source: Business Times 
The Security and Stock Exchange Board of India (Sebi) has allowed 4 hedge funds to register as foreign institutional investors (FII) category, albeit in a cautious manner.
The four foreign funds, viz, Milan, Italy-based Aletti Gestielle Societa, Toronto-based DGAM Emerging Markets Equity Fund, Karma Capital Management and Blackrock Advisors, have been granted FII registration […]

Source: Financial Express

India wins shrimp anti-dumping battle against US court ruling

India has won a significant battle in its fight against the anti-dumping duty on shrimp with the United States Court of International Trade (CIT). The win allows India’s petition against customs bonds, which it had challenged at the WTO level. India is expecting a […]

India is considering slashing import duties on wine and spirits after the EU and the United States’s decision to file complaints before the World Trade Organization.
India has a lucrative alcohol market but the high duities keep the foreign companies from competing in the Indian market.
India’s basic import duties on wine and spirits - at 100 percent […]