Government is considering further relaxing foreign direct investment (FDI) norms in several areas, including trading, with an eye on more inflows.
To support financing for start-ups, the Reserve Bank of India (RBI) issued rules permitting these to raise external commercial borrowings (ECBs).
India may turn into a net importer of fuel oil as its state-owned refiners are making multi-billion dollar investments to upgrade their refineries and produce more profitable refined products such as gasoline or diesel.
New ultra mega power projects (UMPPs) based on imported coal may be insulated from uncertainties in fuel costs, with the power ministry deciding to factor in indexed imported coal prices into tariff for such plants. (ET)
The Goods and Services Tax Network (GSTN) — a not-for-profit company set up to provide IT infrastructure and services for the implementation of GST--has entered into an memorandum of understanding with the Directorate General of Foreign Trade (DGFT) for sharing of foreign exchange realisation and import export code data.
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