Several New Companies To Enter The Electric Vehicle Market In India
The Electric Vehicle Market is set to see a lot of activity. Several foreign companies and homegrown startups have decided to enter this space. The government’s ambitious National Electric Mobility Mission Plan 2020 envisages achieving 6-7 million sales of hybrid and electric vehicles by 2020. A series of flip-flop on policies and a non-existent charging infrastructure is the biggest challenge in achieving the target. But is not deterring the newer entrants. Japan’s Terra Motors, which has been selling e-rickshaws since 2014 is now planning to launch electric auto-rickshaws that will target the 500,000 per annum three-wheeler market by January next year. Quite a few other South East Asian
Read moreGovernment To Set-Up A Defense Corridor To Boost Manufacturing
In a bid to boost defense production in India, the central government is planning to set up a defense corridor. The Centre is planning to set up these defense corridors in Uttar Pradesh and Tamil Nadu. The Micro and Small Enterprises(MSME’s), which manufacture defense components will be linked to form a cluster. The idea is to link a cluster of companies with academia for easy transfer of knowledge between Indian and foreign companies. Each cluster will make spares that can be made into a subsystem or will be specializing in one component. This is a landmark opportunity for MSME’s and
Read moreThe GST Council Has Decided To Provide Tax Incentives For Digital Payments
27th GST Meeting Highlights In a bid to promote Digital Payments in India, the government is considering providing tax incentives for digital transactions. Two prices may be offered to the consumers. One will be with normal GST rates for purchases made through cash payment. The other will be with concessional 2 percent G.S.T. rate which is subject to a ceiling of Rs 100 per transaction for making digital payments. Some direct tax benefit for undertaking digital payments under Goods and Services Tax may be offered to some businesses. To Read About Digital Payments in India: Click here. Want to read the latest
Read moreThe Complete Guide To Digital Payments In India
In India, you must have heard the phrase “Cash is King”. From making payments to small shopkeepers to purchasing real estate, the use of cash is ubiquitous. Digital Payments in India have a long way to go before they displace cash. Here are some crucial statistics for Digital Payments In India India’s large informal economy and a preference for tax evasion are some of the major hurdles in the quest to promote digital payments. Shopkeepers and small retailers often do not accept credit cards for payment as they are wary of paying transaction charges. The Government has been actively promoting
Read moreWhat You Must Know About The New Trade Directory To Boost Exports
The MSME Ministry has launched a National Foreign Trade Directory to facilitate exporters. The directory provides information about export-import offices of policymakers, regulators, facilitators and all export promotion councils, commodity boards, development authorities, trade & industry organizations, MSMEs which have been set up, approved or sponsored by Government of India. The Minister said that the directory will be useful for exporters, importers, traders, manufacturers, MSME’s, authorized economic operators, export-import management students, new IEC holders and all those involved in export trade. Source: Press Information Bureau, Ministry of Small and Micro Enterprises(MSME), Government of India. Want to read the latest posts
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