UNIDO ITPO Tokyo co-organized the webinar titled “Investing in India: Recent Initiatives” on 25 March 2021, jointly with Indo-Japan Chamber of Commerce and Industry, and A.K. Mylsamy & Associates LLP.
Ms. Sai Sudha of Invest Inida mentioned that Japan is the 4th largest investor in India since April 2020 with the cumulative investments of US$33.5 billion with 1,454 Japanese companies. Regarding the investment climate of India, Ms. Sudha introduced that US$1.4 trillion will be injected to infrastructure projects including roads, railways, ports as well as power generation by 2025. While emphasizing that India has drastically improved its ranking from 130th in 2016 to 63rd in 2019 in the World Bank’s Doing Business ranking, Ms. Sudha expressed hope that business partnerships would be further promoted between India and Japan especially in sectors such as power, food processing, textile and automobile.
Mr. K.K.Balu of AKM & Associates LLP introduced the business environment of Tamil Nadu, quoting that the state generates 8.4% of national GDP and is home to 70 companies out of Fortune Global 500. The state, with the world class infrastructure and digitalized form of business, is also suitable for R&D activities of multinationals. Mr. Balu also introduced that 55 MOUs worth over Y612 billion have been signed during the COVIT-19 pandemic and added that various incentives are offered to investors according to the size and sector of businesses.
Mr. R. Sridhar of Grant Thornton India explained about the 4 types of businesses for entry to India; namely, 1) Company (Private and Public), 2) Limited Liability Partnership (LLP), 3) Brach Office / Project Office, and 4) Liaison Office, and added that the Foreign Investment Facilitation Portal (FIFP) has been introduced as a new online single point interface of the Government of India to facilitate FDI. Mr. Sridhar also mentioned that 100% of FDI is permitted in most sectors, except for the prohibited sectors such as agriculture, gambling & lottery, real estate, tobacco products, and restricted sectors such as private banking, insurance, multi-brand retail and print media.
Mr. S. Ramanujam of AKM & Associates LLP made a presentation on income tax perspective on doing business in India and recent developments. Mr. Ramanujam mentioned that a reduced tax rate of 15% is applicable for new manufacturing companies, including those engaged in power generation, which are set up & registered on/after 1 October 2019 and has started its manufacturing operations on/before 31 April 2023. However, once this option is exercised, tax holiday benefits and certain specified deductions may not be applicable. He also explained in detail about taxations for Limited Liability Partnerships and Unincorporated Joint Ventures.
*To view the presentation slides, click the presentation title in the programme below.
Date/Time: 25 March 2021 (Thu) 16:00-17:30 (JST)
Format: Online seminar / Live stream on Webex
Organized by: A.K. Mylsamy & Associates LLP, Indo-Japan Chamber of Commerce & Industry
Co-organized by: UNIDO ITPO Tokyo
1. Opening Remarks and “Investment Cell” of IJCCI
Ms. Suguna Ramamoorthy, Secretary General, IJCCI, India
2. Key Note Address
Hon’ble Mr. B. Shyam, Consul General of India, Osaka-Kobe
3. Investment Opportunities in India and Support from Government of India
Ms. Sai Sudha, Senior Assistant Vice-President, Invest India-Government of India
4. Tamil Nadu Industrial Policy
Mr. K.K. Balu, Former Vice-Chairman, Company Law Board, Corporate Attorney, AKM, Attorneys-At-law, India
5. Foreign Direct Investment Policy
Mr. R. Sridhar, Partner-Tax, Grant Thornton India LLP, India
6. Income Tax perspective on Doing Business in India
Mr. S. Ramanujam, Chartered Accountant, AKM, Attorneys-At-law, India
7. Closing Remarks
Mr. Yuko Yasunaga, Head of UNIDO-ITPO, Tokyo