Liberalized Investment in India After Scrapping of Press Note 18
Liberalized Investment in India After Scrapping of Press Note 18
In January 2005, Indian Prime Minister announced scrapping of the contentious Press Note 18 pertaining to foreign financial or technical collaboration under the automatic approval route with effect from January 2005. The scrapping of Press Note 18 has been was hailed as, and has proved to be, a positive step towards further liberalising foreign direct investments regulations in India.
A. Press Note 18:
In terms of Press Note 18, the automatic route (which requires no prior regulatory approval) for foreign investment was not available to foreign investors having an existing or previous venture or technology transfer/trade mark agreement in the same or allied field in India. Investors having a previous or existing venture or technology transfer/trade mark agreement in the same or allied field in India required prior Foreign Investment Promotion Board (FIPB) approval for such investment.
To obtain FIPB approval, the foreign investor had to give detailed circumstances in which they found it necessary to setup a new joint venture/enter into new technology transfer (including trade-mark) and the onus was on such investors/technology suppliers to provide the requisite justification as also proof to the satisfaction of the FIPB that the new proposal would not in any way jeopardize the interests of the existing joint venture or technology/trade-mark partner or other stakeholders.
In implementing Press Note 18, the Indian Government, in practice, required a letter/certificate from the existing Indian joint venture partner that it had no objection to the foreign partner’s new investment proposal in the same or allied field.
Press Note 18 was issued In the wake of the liberalization policy of the Government of India which allowed 100% foreign direct investment in almost all sectors of the economy without prior regulatory approval. Prior to the “opening up” of these sectors to 100% foreign direct investment, joint ventures were the popular mode of foreign investment in India in view of ceilings on foreign investment in several sectors. The objective of Press Note 18, it appears, was to protect the Indian joint venture partner against the prospect of the foreign joint venture partner walking out of the existing joint venture and joining hands with another Indian party or establishing its wholly-owned Indian subsidiary.
B. Scrapping of Press note 18:
In terms of Press Note 1 of 2005, new JVs and technical collaborations will no longer be governed by the provisions of Press Note 18.
Pursuant to scrapping of Press note 18, the above restrictive provisions of Press Note 18 have been done away with for all future joint ventures in India between Indian and their foreign partners. In the new dispensation, new joint ventures and collaborations are being based on the free will of partners without any Government interference.
An interesting development of Press Note 1 of 2005 is the acknowledgement that Indian companies as well as their foreign partners may contractually safeguard their interests in JVs through provisions in JV/collaboration agreements which tackle ‘conflict of interest’ situations, for example, where a JV partner decides to invest in another JV or a fully-owned subsidiary in the same field of activity.
C. Non-Applicability to Existing JVs:
The joint venture existing at the time of scrapping of Press Note 18 however continues to be protected by a few provisions of Press Note 18. Venture capital funds have however been exempted from the requirement of having to obtain a no-objection certificate from local partners for new investments. Similar freedom has been extended to sick companies and joint ventures where either the domestic or foreign venture partner hold less than 3% shareholding. International Finance Institutions and foreign direct investment proposals in the Information Technology sector had been exempted from the applicability of Press Note 18 in the year 2001 and 2000, respectively.
The need for consent from both domestic and foreign venture partners will apply in the case of existing JVs only if the proposed sector of investment is the ’same’ as the existing JV. Earlier, the need for consent also applied to proposed investments in an ‘allied’ sector as the existing JV. For purposes of Press Note 18, ’same’ field means those activities, which are covered under the same four digit National Industrial Classification 1987 (NIC) code, while ‘allied’ field refers to those actitivities covered under the same three digit NIC code.
FEMALE FOETICIDE IN INDIA
FEMALE FOETICIDE IN INDIA
Among various women related issues in India, the female foeticide and female infanticide has become one of the social problem. The advent of technology and misuse of pre-natal sex detection and also attitude of the unscrupulous medical practitioners, who are facilitating the female foeticide through induced abortions. There are strict laws and penal actions against violators, but the laws have not worked. Over 10 million female foetuses have been aborted in India in the past two decades.
The sex ratio as per 2001 census the females are 933 per 1000 males. Although a marginal improvement of six points in the overall female to male sex ratio in India � from 927 in 1991 to 933 in 2001 � is an encouraging development, the massive decline of 18 points in the juvenile sex ratio (age group of 0 to 6) � from 945 to 927 in the country after 1981 � is what shows the extensive female foeticide in India.
It is pertinent to note that the figures shows the fall in the juvenile sex ratio is much higher in the economically developed States in India. There is steep fall in sex ratio in States like, Punjab, Haryana, Gujarat and Maharashtra, along with the Union territories of Delhi and Chandigarh. In Punjab there are only 874 females per 1,000 males. The situation in Haryana, Gujarat and Maharashtra is also similar - the females are 861, 921 and 922 respectively per 1,000 males. Kerala is the only State were females are 1,058 per 1,000 males.
The following is the sex ratio chart from 1901 to 2001.
YEAR - SEX RATIO
Females per 1,000 males
1901 - 972
1911 - 964
1921 - 955
1931 - 950
1941 - 945
1951 - 946
1961 - 941
1971 - 930
1981 - 934
1991 - 927
2001 - 933
Source: Census of India, 2001.
India cannot afford to wait till the next census in 2011 to determine whether the growing practice of female foeticide and the girl child mortality rate had gone up.
In India the reason behind in rise of female foeticide is because of the strong son preference in society, universalisation of the small family norm, practices like tradition of giving dowry (gifts by father of bride in cash or property to the groom), laws that govern property inheritance and the cultural perception about the familial name through the male line. The mortality of girl child is also high because of parental discrimination against their daughters in terms of health care and nutrition.
FEMALE INFANTICIDE:
According to a recent report by the United Nations Children’s Fund up to 50 million girls and women are missing from India’s population as a result of systematic gender discrimination in India. The disastrous impact of the consumerist culture spawned by globalisation that has been widely held to account by social scientists for the spread of infanticide in India.
There are instances like, leaving days old girl-child near the gates of Governmental Health Centres, Juvenile Centres, Temples and Churches leaving baby’s fate to God. Selling girl child for few hundred rupees to childless couples is another atrocity.
Several Incentives and Schemes were introduced by the Government of India to reduce Infant Mortality Rate in India and to discourage the practice of female infanticide.
To combat the situation Government of India had enacted Pre-natal Diagnostic Techniques (Regulation and Prevention of Misuse) Act, 1994 to provide for the regulation of the use of pre-natal diagnostic techniques for the purpose of detecting genetic or metabolic disorders or chromosomal abnormalities or certain congenital malformation or sex linked disorders and for the prevention of the misuse of such techniques for the purpose of pre-natal sex determination leading to female foeticide.
Sec. 6 of the said Act, clearly says about determination of sex prohibited. Further Sec. 22 prohibits advertisements relating to pre-natal determination of sex and punishment for contravention.
Sec. 23 (3) of the said Act, lays down that any person who seeks the aid of a genetic counseling centre, a genetic laboratory or a genetic clinic, or of a medical geneticist, gynecologist or registered medical practitioner, for applying pre-natal diagnostic techniques on any pregnant women (unless there is evidence she was compelled to under go such diagnostic techniques) for purposes other than those specified, shall be punishable with imprisonment for a term that may extend to 3 years and with a fine which may extend to Rs.10,000 and any subsequent conviction may involve imprisonment which may extend to 5 years and a fine of up to Rs.50,000.
The Supreme Court of India in its recent Judgment observed and issued directions to central and State Governments, Union Territories, Central Supervisory Board and Appropriate authorities for proper implementation of the Act.
In the words of Supreme Court of India, It is unfortunate that for one reason or the other, the practice of female infanticide still prevails despite the fact that gentle touch of a daughter and her voice has soothing effect on the parents. One of the reasons may be the marriage problems faced by the parents compelled with the dowry demand by the so-called educated and/or rich persons who are well placed in the society. The traditional system of female infanticide where by female baby was done away with after birth by poisoning or letting her choke on husk continues in a different form by taking advantage of advance medical techniques. Unfortunately, developed medical science is misused to get rid of a girl child before birth. Knowing fully well that it is immoral and unethical as well as it may amount to an offence, foetus of a girl child is aborted by qualified and unqualified doctors or compounders. This has affected overall sex ratio in various States where female infanticide is prevailing without any hindrance.
The Supreme Court of India directed the Central Government to create public awareness against the practice of pre-natal determination of sex and female foeticide through appropriate releases/programmes in the electronic media.
The Supreme Court of India also directed all the State Governments/Union Territory administrations to create public awareness against the practice of pre-natal determination of sex and female foeticide through advertisements in the print and electronic media by hoardings and other appropriate means. The Governments to furnish quarterly returns to the central supervisory board giving a report on the implementation of PNDT Act, 1994.
In order to strengthen the monitoring of female foeticide and girl child survival, the Registrar �General of India, has made it mandatory for all the Chief Registrars of Births and Deaths to closely monitor the sex ratio at birth every month.
FEMALE FOETICIDE & INDIANS LIVING ABROAD:
Indians in other countries are going for sex selective abortions is evident by the fact that sex ratio at birth among the Indian community in New Jersey is as bad as in Punjab and Haryana.
A report in the British Newspaper, ‘observer’, hand come up with evidence that British Asian women go to India to abort their baby girls. The British Law does not allow parents to choose sex of their babies except to avoid certain gender linked diseases. This forces many to go abroad. Abortion on the ground of sex is not allowed under the Abortion Act of 1967 in the UK. But sex can be disclosed by patients if they ask during ultrasound.
K.V.RAMANA MURTHY
ramanamurty9967@yahoo.co.in
Placement consultants in India
Placement consultants in India
Articles body
They have a massive database of qualified and experienced job seekers; thus, these recruitment organizations offer a list of most appropriate candidates for the particular post to other organizations. Apart from this, they also play a crucial role in providing best opportunity to aspirants. In this juncture, placement consultants in India are getting pleasure of employment hunt feast, as they have become the requisite of professionals and organizations as well. Aimed to proffer a better service, these agencies also work as a link between organizations and job seeker.
Possessing all the expertise to accomplish the task of workforce resource service, these recruiting agencies are enjoying better remuneration, as they a get certain sum from companies, where the candidate is recruited. Most of the time, this amount is equivalent to candidate’s one month salary; in some cases, candidates also pay.
The offers the most lucrative jobs in its metropolitan cities such as Delhi, Mumbai, Chennai, Kolkata and Bangalore; hence, maximum placements consultants in India are headquartered in these cities only.
There are many placement consultants in Delhi, as capital city of the country is the most sought-after for aspirants from all around the Indian peninsula. Delhi’s job zone is extended in entire national capital region that encompasses Gurgaon and Noida; these cities are among some most chic cities of the country. The entire NCR region is an haute place for multinational companies, as they get the best workforce over here; hence, placement agencies too have good works because they are outsourcing their recruitment database not only to local clients but also to offshore customers. The city is office of almost every leading placement agency in India.
Mumbai- the financial capital of the country enjoys same facilities, as it is another most-preferred destination for job seekers from all around India and also to cross-border aspirants.
The city is known for its impeccable offering, which includes almost every category job; thus, it is another heaven for Indian Placement agencies.
Bangalore is famous for its IT affluence; the city offices not only major IT names but also some of the best placement consultants in India. These recruitment advisors work for Bangalore based organization and handles assignments outsourced by other city-based enterprises.
Kolkata and Chennai are two more metropolises of India, which enjoy the service of best placement consultants. These placement consultants offer their service in B-grade cities of country too, as these cities are boosting job-opportunities.
Supplying human resource to almost every industry including, IT, finance and sales, movie, modeling , media & publishing, placement agencies in India are accountable for the bright future of number of today’s big name too.
Nicholas tan is Associated with Jobs in India. Placement consultants in India are playing vital role in recruitments of candidates at suitable places.
Why India has a Rich Culture- Explore the many aspects of India: Know why India has a rich culture!
Why India has a Rich Culture- Explore the many aspects of India: Know why India has a rich culture!
1. History of India
The historical past of India is graced with witnessing one of the oldest civilizations of the world. The origin of which can be traced back to 5000 years back. This civilization was named as Indus Valley civilization. The civilization has been so named after its place of origin which was called Indus River Valley. This civilization has been given much respect and admiration for its contributions to the movements, ideas and philosophies of the nation. The cities where the impact of this civilization was witnessed to an extensive level include Mohenjadaro and Harappa. Having existed for more than eight centuries, the people of this civilization were called the Dravidians. Today, in the far ends of South India, the descendants of this civilization can be found.
2. Languages and Literature of India
Around 1652 mother tongues are used in the regions of India. Most of the languages are prevalent among very small groups. Of them, there are only 33 languages which are spoken by over 1 lakh of people.
Of all the languages, Hindi has been given the status of official language. This language is spoken by about 20% of the total population of India. This language is used extensively in the northern part of India, where the states of Uttar Pradesh, Madhya Pradesh, Bihar and Rajasthan are located. Hindi is the official language of the states of Himachal Pradesh and Harayana too. However, in South India, the scene is bit different.
3. Religion of India
The cultural aspect of India is deeply influenced by its religious patterns. India is considered a home to different kinds of religions including Buddhism, Sikhism and Hinduism. Followers of Islam and Christianity are also found here. It is believed that religion in India has a deep connection with history. And it is because of this that religious practices and beliefs influence Indian society to a great extent.
4. Arts and Crafts of India
The art and craft of India is acclaimed for its vibrancy and colorful display. Known mainly for its handicrafts of sculptures, paintings, textile, stone and wood carvings and jewelry, the age-old traditional art form of India has stood the test of time and is now widely recognized all over the world. It is upheld that the history of art and craft of India is as old as Indus Valley Civilization.
5. Dance of India
Indian dance is well-known for its graceful postures and long traditions. In this art form, the performers use their body and facial expressions to convey messages. In fact, the influence of this art form of India can be seen in other areas of sculpture, architecture, music, literature and theater too. Some of the popular dance forms of India are Bharatnatyam, Odissi, Kathak and Manipuri among others.
6. Cuisine of India
Your cultural tours in India will be inconclusive without exploring its variety of culinary preparations. Each region has something exclusive to offer for your palate. South Indian, North Indian, East Indian and West Indian culinary treats are rich in taste. Each region uses special spices to make their dishes delicious and wholesome.
Packers and Movers in Pune, India
Packers and Movers in Pune, India
There are several moving companies or agencies (relocation or shifting service providers) in the city of Pune. Such companies or moving agencies also termed as Pune Packers and Movers or Pune Packers Movers. These moving companies or agencies are dedicated to helping people on their relocation or shifting related needs. These moving agencies are helping people by offering packing & moving services, packing & moving tips, storage & warehousing information, moving insurance information, auto transport, car carrier & transportation, residential relocation, commercial relocation, industrial relocation and international shifting, too.
These days popularity of Pune Packers Movers are gaining rapidly due to quality relocation and shifting related services at very economical rates. There are several reputable moving agencies in Pune offering comprehensive solutions to all kinds of shifting and relocation related needs. People can hire and get help of professional moving companies on all kinds of relocation or shifting situations – be it residential relocation, home shifting, office shifting, commercial relocation, industrial relocation or corporate relocation. Almost all the reputable moving agencies from Pune are outfitted with modern infrastructure and equipments which is essential for packing, unpacking, loading and unloading. They have dedicated team of expert workers and staffs to make tedious task of packing & moving easier and simpler.
Expert workers and packers pack valuable goods in such manner so that they cannot meet damages while transportation. They pack valuable goods and items using packing material of good quality. They use packing materials like cartons, boxes, wrapping sheets & papers, tapes, etc of fine quality. Good packing will reduce the chance of your valuable household items from being damaged. So they take utmost care during the process of packing.
During entire process of packing and moving they take utmost care of valuable goods and items of their clients and customers. They have their own vehicles for the transportation of valuable goods and items. Loading and unloading process is done with utmost care by expert workers. And experts do not make mistake or damage during the process of loading and unloading. Once the goods arrive at their respective destination expert workers also unpack them and rearrange them according to their customers’ desire and instruction.
Some of important services offered by a reputed Packers Movers Pune based company are packing & moving services, packing & unpacking services, transportation services, warehousing & storage facilities, air cargo services, sea cargo services, logistic services, freight forwarding services, international shifting services, etc. Some of reputable moving companies of Pune also offer other related services like parcel services, courier services, car carrier & transportation services, international logistic, etc.
Well, if you too are looking for a reputed and reliable moving company in India then you can hire one of any reputed and registered Pune Packers Movers.
Author Bio:
Michael Braganza is an amateur writer focusing primarily on Business related topics. For more information Packers and Movers in Pune and Packers Movers to visit http://www.indiamoverspackers.com/
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