Impact of Indian Budget 2019 on foreign firms
Aug 10, 2019
The following are the takeaways from Indian budget 2019 for foreign firms by Rick Rossow, Wadhwani Chair in US India Policy Studies
FDI: Planned increases in civil aviation, media, insurance. Relax single brand retail sourcing rules.
FPI: Aligh investment cap with sectoral limitl; streamline KYC norms.
Trade: Custom duty increases in Cashews, PVC, metal castings, marble video recorders, ending zero duty on electronics made in India
Custom duty redutions in some specialty chemicals, electrical vehicl parts, some capital goods for manufacturing electronics.
Note: The FDI and FPI changes happen outside the Budget. While customs duty changes are part of the Budget.