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Category: India

PM Modi to inaugurate AIIB Annual Meeting 2018

PM Modi will inaugurate the third annual meeting of Asian Infrastructure Investment Bank. The two-day meeting will be hosted by the Department of Economic Affairs, Ministry of Finance, in Mumbai. Ministry of Finance, in partnership with the Federation of Indian Chambers of Commerce & Industry

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Government releases draft on cross-border insolvency resolution

The government released a draft on cross-border insolvency that would help banks access overseas assets of a company undergoing resolution. The Indian authorities will also be required to cooperate with foreign creditors to a domestic company. The draft favours adoption of the UNCITRAL model on dealing with cross-border insolvency. The UNCITRAL model law envisages a balance between liquidation and reorganisation of global companies going in for resolution

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India hikes customs duty on several goods imported from the US

India has hit back at US President Donald Trump’s protectionist policies, hiking customs duty on 29 products, including farm products, steel, and iron, which are imported from America. This retaliatory action is in response to the US move to raise tariffs on steel and aluminum products earlier this year, which had a tariff impact of $241 million on India

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Re-development of 7 Delhi colonies

The redevelopment of the seven government colonies in Delhi will lead to an increase in the green area coverage by about 3 times from the existing green space area. The government colonies include Nauroji Nagar, Netaji Nagar, Sarojini Nagar, Mohammadpur, Sriniwaspuri, Kasturba Nagar and Thyagaraj Nagar. The redevelopment of the seven colonies is being done with complete adherence to environmental sustainability

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