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Tamil Nadu: Towards a trillion dollar economy by 2030

Tamil Nadu, the second-largest state in India, boasts a significant contribution to the country’s economy, accounting for approximately 9.6% of its GDP. As of the fiscal year 2022-23, the state’s per capita income has reached USD 3408.7. Tamil Nadu has received a noteworthy influx of FDI, totaling USD 7 billion between 2019 and 2022. With …

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Regulatory updates – Insurance

In Q4 FY 2022-23, the insurance sector witnessed a range of regulatory updates being introduced. The updates comprised circulars, notifications, guidelines and other regulations introduced by the Insurance Regulatory and Development Authority of India (IRDAI). For businesses dealing in general or health insurance and life insurance, IRDAI has introduced the concept of expenses of management …

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Impact of new risk management framework of mutual funds

Key highlights of the publication The Mutual Funds Advisory Committee (MFAC) reviewed the erstwhile risk management framework basis the inputs received from various industry players, such as the Association of Mutual Funds of India (AMFI), and their recommendations were incorporated in the new risk management framework (RMF) issued by the regulator in September 2021, replacing …

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Evolution of the electric vehicle industry in South India

The global automotive industry is one of the biggest industries, contributing to approximately 3% of the worldwide GDP and accounting for over 50% of global oil consumption. In the context of India, the industry is one of the significant contributors to the country’s growth and supports three essential pillars – mobility, industrial and infrastructure development, …

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Guide to establishing presence in India 2023

  India’s economy has been growing at a rapid pace in recent years, making it an attractive investment destination for international businesses. With economists predicting that India will soon become the world’s third-largest economy, it is no surprise that more and more companies are looking to expand their operations in the country. The government has …

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Navigating the maze – Disallowance of ITC on CSR expends

The Goods and Services Tax (GST) is recognised as the most comprehensive and all-encompassing reform in the realm of indirect taxation, essence of which lies in ensuring uninterrupted and seamless stream of Input Tax Credit (ITC). While ITC has been the focal point of numerous GST discussions and has undergone countless deliberations throughout the years, …

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