Category Archives: Manufacturing

Govt to Tesla: No local sourcing required for manufacturing in India

The government today clarified that US-based electric car major Tesla will not have to source local components if it plans to set up a manufacturing unit in India. The government responded to apprehensions expressed by Tesla founder Elon Musk that

India offers tax concessions to Apple to expand production

India has offered to allow Apple Inc to import mobile handset components intended for use in local manufacturing tax free, a top government official said on Tuesday. The tax concessions will be subject to the condition of increasing local value

India sets $45 billion textiles exports target for FY18

The country’s overall textiles and garments exports during 2015-16 stood at $40 billion, mainly because of less demand in major markets such as the US, EU and China, and stiff competition it faced from countries like Vietnam and Bangladesh, which

GST impact on economy: Five things to watch out for

While the lower Goods and Services Tax (GST) rates may lead to a decline in inflation, economic growth may not improve significantly in the short term even though it will benefit both India Inc and the government in the medium