The SKP Advantage
India is reportedly the first country in the world to introduce statutory guidelines in the Companies Act, 2013 requiring certain companies to undertake CSR activities. Our note aims to provide an insight into the regulations governing CSR activities in India, issues clarified by the Ministry of Corporate Affairs and the benefits of integrating CSR activities into your business strategy.
India has the third largest armed forces in the world and a defence budget of about USD 40 billion, of which a substantial amount is spent on capital acquisition. India is estimated to procure at least USD 50 billion worth of equipment, parts and services over the next 10 years, making it one of the largest importers of conventional defence items globally. This presents a significant opportunity for foreign suppliers. In this update, we look at the regulatory framework for investing in the defence sector in India.
While Indian parliamentary matters were generally presumed to be slow paced given India’s democratic polity, the last three parliamentary sessions have been considerably productive with over 48 bills introduced and tabled in the Lok Sabha (the lower house of Parliament). In this update, we discuss the current position of the GST Bill and the overall preparedness of the government and industry for its implementation on 1 April 2016.