Foreign Investment: Current Affairs, GK & News - 2020-2021

CBDT exempts Sovereign Wealth Fund: Key Facts, Benefits, Types, Sources of Sovereign Wealth Fund

Published: November 4, 2020

The Central Board of Direct Taxes recently exempted the interest, dividend and long term capital gains made by the Sovereign Fund MIC Redwood 1 RSC Limited of Abu Dhabi, UAE (United Arab Emirates). Highlights The exemption has been provided under clause 23 FE of Section 10 of the Income Tax Act. This will allow sovereign ..

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Injeti Srinivas Committee submits report

Published: October 23, 2020

On October 22, 2020, the Injeti Srinivas Committee submitted its second interim report to the chairperson of International Financial Services Centres Authority (IFSCA). It was an IFSCA Expert Committee that was constituted to study about the international retail business development in IFSC. Background The committee as constituted to make recommendations on promoting international retail business ..

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Defence Minister releases new Defence Acquisition Procedure

Published: September 28, 2020

On September 28, 2020, the Defence Minister Raj Nath Singh released a new Defence Acquisition Procedure, 2020. It has special incentives for products that are designed and developed by Indian vendors. Also, the procedure includes manufacturing category that encourages foreign investors and manufacturers to set up manufacturing facilities in the country. Key Highlights The Defence ..

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Google to invest 10 billion USD in India

Published: July 13, 2020

On July 13, 2020, PM Modi interacted with the CEO of Google, Mr Sundar Pichai. After the interaction, the CEO announced that Google is to invest 10 billion USD in India in the future. Highlights The investment will mainly focus Digital India initiative of Government of India. Google has named the investment as “India Digitisation ..

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RBI releases International Investment Position

Published: July 1, 2020

On June 30, 2020, Reserve Bank of India released its data on International Investment Position, IIP. Highlights According to the data, the direct investment in the country rose by 19 billion USD and the portfolio investment declined by 13.7 billion USD. Also, the international financial assets of Indian residents have increased by 73.9 billion USD. ..

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