Loading...

Top
Help
×

By creating an account you can:

Logo TaxTMI
Call Us / Help / Feedback

Contact Us At :

E-mail: [email protected]

Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters 0/2000
Make Most of Text Search
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
  6. Text Search
  7. The system will try to fetch results that contains ALL your words.
  8. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
  9. Text Search
Add to...
You have not created any category. Kindly create one to bookmark this item!
Create New Category
Hide
Title :
Description :
❮❮ Hide
Default View
Expand ❯❯
Close ✕
🔎 News - Adv. Search
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text
  • Main Text
  • Main Text + AI Text
  • AI Text
Category: ?
Categorized by AI
---- All Categories ----
  • ---- All Categories ----
  • Income Tax
  • GST
  • Customs, DGFT & SEZ
  • FEMA & RBI
  • Corp. Laws, SEBI & IBC
  • PMLA, Black Money & ED
  • Budget
  • News and Press Release
  • PTI News
Month:
---- All Months ----
  • ---- All Months ----
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
Year:
---- All Years ----
  • ---- All Years ----
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
Relevance Default Date
    SIDBI organizes a conclave of the Heads of Regional Rural Banks (RRBs) on expanding SIDBI-RRB MSME Co-Lending arrangement
    SC sets aside show cause notice to Tata Steel over input tax credit availed during FY19-23
    HC flags fraudulent use of Aadhaar by infiltrators to get Indian citizenship; calls for action
    IVCA Welcomes Consultative Approach on Draft FEMA NDI Rules
    India to be among top 5 Nestle markets in coming years, a major export hub : Global CEO
    Build Credit Awareness with a Free Credit Score Check from Bajaj Finance
    CARD91 Introduces Five-Point Credit Lifecycle Consistency Framework for Credit Line on UPI
    RBI's Proposed Shift from Revolving Credit to Term Loans: SwiffyLabs Lending Platform Already Supports the New Construct
    The US and Canada could pull back from an all-out trade war. It's not clear that they will
    Indian Community in Japan Playing Key Role in Strengthening India-Japan Ties: Commerce and Industry Minister Shri Piyush Goyal
    Union Minister of Commerce and Industry Shri Piyush Goyal Chairs India-Japan Industry Roundtable on Semiconductors and Artificial Intelligence in Toky...
    National Traders’ Welfare Board Holds 100th VC Meeting to Strengthen Engagement with Traders Across the Country
    CCI approves acquisition of 100% share capital of Tao Digital Solutions by Cyient Ltd
    CCI approves acquisition of 100% stake in Kestrel Coal Group Pty Ltd. by Yancoal Australia from certain sellers
    HC bench releases Skoda Volkswagen USD 1.4 billion tax case sans verdict; matter to be heard afresh
    Canada strikes back at US with retaliatory tariffs as trade war escalates
    Rupee rises 26 paise to close at 95.44 against US dollar
    Economy shows resilience to global headwinds with buoyant domestic demand: RBI bulletin
    Goyal promises BIS certification relief for high-tech sector firms
❯❯
Maximize Maximize Maximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

+

Are you sure you want to delete "My most important" ?

NOTE:

News
Showing Results for :
Reset Filters
Results Found:
Show All Summaries Hide All Summaries
August 26, 2026
Show AI Summary
Alternative dispute resolution enabled settlement of long-pending disputes, alongside reporting on court administration and regulatory compliance concerns.
Legal developments include resolution of long-pending tenancy, commercial and property disputes through a special Lok Adalat mechanism, including a digitally signed international settlement. Other matters concern a challenge to a riot-related murder conviction, allegations of administrative irregularities and selective case listing, fast-track court pendency, cancellation of a recruitment process following suspected examination malpractice, fraudulent identity documents used to claim citizenship, medical-qualification standards, and opposition to uranium exploration and mining.
August 26, 2026
Show AI Summary
MSME co-lending supports digital paperless credit delivery through rural banks for underserved rural and semi-urban enterprises.
SIDBI-RRB MSME co-lending arrangement is proposed for expansion to increase credit access for micro, small and medium enterprises in rural and semi-urban areas. The arrangement combines SIDBI's understanding of MSME credit requirements with Regional Rural Banks' local reach. SIDBI's Co-Lending Origination Platform provides an end-to-end digital credit process intended to enable faster, paperless loan processing, in-principle sanction communication, documentation and direct account disbursement without branch visits.
August 26, 2026
Show AI Summary
Input tax credit mismatch alone cannot support fraud-based GST demand without an assessing officer's recorded satisfaction of fraud or suppression.
Section 74 GST demand proceedings require the assessing officer's independent satisfaction of fraud, wilful misstatement or suppression of facts. An input tax credit mismatch or alleged short payment alone cannot establish these conditions. Unsupported assertions of suppression for invoking extended limitation are insufficient, and audit objections cannot replace the assessing officer's satisfaction. A show cause-cum-demand notice lacking factual allegations of a deliberate device to evade tax or avail excess input tax credit is vulnerable.
August 26, 2026
Show AI Summary
Fraudulent Aadhaar procurement exposes identity-verification gaps and prompts disclosure, expedited investigation, deportation, and statutory review measures.
Fraudulent procurement of Aadhaar and other identity documents by foreign nationals who infiltrate borders may undermine identity verification, immigration control and national security. Coordinated action is required to trace and deport such persons, prevent re-entry, strengthen document verification, and complete investigations without delay. Amendments to the Aadhaar Act are to be considered to assist investigating agencies, while a dedicated procedure is required to address border infiltration and human trafficking. Aadhaar enrolment records are to be supplied to police, followed by timely deportation proceedings.
August 26, 2026
Show AI Summary
Foreign investment liberalisation proposals receive industry support, subject to preserving AIF treatment, grandfathering, and prospective application.
Proposed foreign-investment liberalisation, including treatment of stakes below 10 per cent and a greater role for market forces in valuation, is welcomed. Preservation of the existing treatment of Alternative Investment Funds under the IOCC framework is emphasised, together with grandfathering of transactions and funds undertaken under the current regulatory position. Newly introduced requirements should operate prospectively to support a simpler, predictable and investment-friendly foreign-investment framework.
August 26, 2026
Show AI Summary
India market expansion guides Nestle 's volume-led growth, export-hub development and long-term investment without compromising product quality.
Nestle 's India strategy focuses on volume-led growth, wider consumer reach, portfolio development, efficiency improvements and sustained long-term investment. Growth is intended to combine increased household penetration with pricing, premiumisation, affordability and value offerings. India is also intended to develop further as a production and export hub for global markets, supported by manufacturing capacity and expanding overseas supplies. Product quality and consumer interests remain constraints on the pace of expansion.
August 26, 2026
Show AI Summary
Credit awareness through regular score and report review supports responsible borrowing, error detection, and informed credit management.
Free online access to the Credit Pulse Report is available through the Bajaj Finance website. Users verify their registered mobile number through OTP authentication, provide identifying particulars including PAN and date of birth, and then view the available credit score. The report may be reviewed and downloaded to examine repayment history, active credit accounts, recent enquiries and other recorded credit information. Periodic review can help identify unfamiliar accounts, inaccurate repayment records, overdue amounts, unupdated information and changes in credit utilisation.
August 26, 2026
Show AI Summary
Credit lifecycle consistency requires facility-specific treatment so UPI-linked credit records, repayments and customer obligations remain aligned.
CARD91's Credit Lifecycle Consistency Framework calls for facility-specific treatment of Credit Line on UPI transactions and continuing credit events. Credit limits, outstanding balances, repayments, refunds, reversals and EMI conversions should be accurately connected to the relevant customer account and applied according to the underlying facility's terms. Bank policy, customer consent, transaction controls and portfolio actions should remain aligned. Customer-facing applications, statements and alerts should consistently reflect available credit, outstanding obligations and repayment schedules, while disputes and manual corrections follow documented, reviewable processes.
August 26, 2026
Show AI Summary
Non-revolving credit lines require term-loan structures supporting multiple drawdowns without replenishing sanctioned limits for NBFC lending products.
Proposed restrictions on revolving credit facilities for most NBFCs would generally require credit products to operate as term loans, rather than facilities in which principal repayment automatically restores the available borrowing limit. Compliance may require technology capable of managing multiple drawdowns within an approved sanction, separate repayment schedules, amortisation and servicing workflows, while preventing repaid principal from replenishing the sanctioned limit.
August 26, 2026
Show AI Summary
Reciprocal trade tariffs intensify as negotiations confront market access, cultural protections, industrial safeguards, and sovereignty concerns.
US-Canada tariff escalation involves reciprocal import duties following failed negotiations over market access and trade in dairy, alcoholic beverages, automobiles, steel, aluminium and softwood lumber. United States tariff action relies on a rarely used trade-law power permitting duties against countries considered to discriminate against American businesses, without a prior investigation or stated time limit. Negotiations also raised concerns about protection of major industries, cultural protections and Canada's freedom to conclude trade agreements with other countries.
August 26, 2026
Show AI Summary
Diaspora engagement supports skilled mobility, investment links, remittances, and citizen welfare while encouraging compliance with local laws.
Indian diaspora engagement in Japan supports bilateral goodwill, business links, investment opportunities and people-to-people ties. Skilled Indian professionals are encouraged to understand local requirements, learn Japanese language and culture, and pursue opportunities in healthcare, trades, engineering, artificial intelligence, accountancy and maritime work. Diaspora members are also encouraged to maintain connections with India, contribute through digital education and knowledge-sharing, and comply with local laws and regulations. Remittances and government support for citizens' welfare, safety and crisis assistance abroad are recognised as important aspects of diaspora engagement.
August 26, 2026
Show AI Summary
Semiconductor and AI cooperation advances through industry engagement, investment facilitation, and accelerated economic partnership review.
India-Japan cooperation in semiconductors and artificial intelligence is being strengthened through industry engagement, investment facilitation, technology partnerships and an economic-security-oriented framework. India's semiconductor strategy covers chip design, machinery and materials, fabrication, ATMP/OSAT, research, and talent development, supported by Semicon India initiatives. Bilateral engagement also seeks to address industry concerns, expand manufacturing and innovation partnerships, and accelerate review of the Comprehensive Economic Partnership Agreement to reflect emerging economic opportunities.
August 26, 2026
Show AI Summary
Virtual trader engagement platform strengthens weekly grievance feedback, policy information sharing, and institutional dialogue between government and trading communities.
The Virtual Conference Interaction Meetings provide a weekly, accessible forum for retail traders to engage with the Government, receive information on relevant schemes, policies and reforms, and submit grievances and suggestions. The platform enables recurring concerns to be identified and communicated to concerned Ministries and Departments for consideration and redressal. It seeks to strengthen institutionalised dialogue, feedback, transparency, trust and cooperation between the Government and the trader community.
August 26, 2026
Show AI Summary
Competition clearance for full acquisition permits Cyient to acquire Tao Digital Solutions, a global digital transformation and technology services provider.
Competition Commission of India approved Cyient Limited's acquisition of 100% of Tao Digital Solutions Inc.'s share capital from its existing shareholders. The full share capital acquisition transfers complete ownership of Tao Digital Solutions to Cyient. Tao Digital Solutions provides global digital transformation and technology services, including product engineering, managed services, cybersecurity, payments, digitization and AI, cloud services, and data services, and operates in India through its wholly owned subsidiary, Tao Digital India Private Limited.
August 26, 2026
Show AI Summary
Competition clearance for full coal-sector acquisition addresses limited Indian market links through metallurgical and thermal coal sales.
Competition approval covers Yancoal Australia Limited's acquisition of 100% equity interest and warrants in Kestrel Coal Group Pty Ltd. The target holds an 80% interest in the Kestrel Joint Venture, which operates a Queensland coal mine producing principally metallurgical coal and a smaller volume of thermal coal. Neither the acquirer nor the target has a physical presence in India. Their Indian nexus is limited to coal exports and the joint venture's sales of metallurgical coal into India.
August 25, 2026
Show AI Summary
Customs classification of unassembled vehicle imports requires fresh hearing after reserved tax challenge was released without verdict.
The dispute concerns customs classification of imported unassembled vehicle parts. Customs authorities allege that parts imported in separate shipments should have been declared as completely knocked down (CKD) units, attracting the higher duty applicable to CKD imports, rather than as individual components subject to lower duty. The manufacturer contests the resulting customs demand. Proceedings have been released for fresh hearing before the regular indirect-tax writ bench, with status quo maintained for four weeks.
August 25, 2026
Show AI Summary
Retaliatory tariffs on imported goods escalate trade measures, targeting key sectors while maintaining support for affected domestic businesses.
Canada has imposed retaliatory tariffs on United States-origin industrial and consumer goods following increased United States tariffs on Canadian goods. Effective 8 September, the measures apply at rates of 15%, 25% and 50% across more than 700 products, including steel, aluminium, appliances, dairy products, seafood, furniture, clothing, pulp and paper, and electronics. Existing countertariffs on automobiles remain in force. The measures seek to protect domestic businesses and reduce imports, supported by assistance for affected workers and businesses amid risks to integrated cross-border supply chains.
August 25, 2026
Show AI Summary
Foreign-exchange market intervention and lower crude prices supported rupee appreciation, while USD/INR remained range-bound amid shifting dollar conditions.
Foreign-exchange market conditions supported rupee appreciation against the US dollar, driven by stronger domestic equity markets, a weaker US dollar and lower crude oil prices. The USD/INR pair remained broadly range-bound, with oil-price movements and Reserve Bank intervention identified as key near-term influences. The special USD-INR foreign-exchange swap facility for FCNR(B) deposits, overseas foreign-currency borrowings and external commercial borrowings mobilised substantial foreign-exchange inflows.
August 25, 2026
Show AI Summary
Section 301 tariffs may have lower impact where major exports remain outside their scope amid resilient domestic demand.
Economic resilience is attributed to buoyant domestic demand, increased manufacturing and services activity, improving liquidity conditions, credit growth, investment activity and rebounding foreign capital inflows. Recovery in the southwest monsoon improved kharif sowing and reservoir storage, partly mitigating agricultural-sector risks. US Section 301 tariffs are expected to have a comparatively lower effect because major Indian exports to the United States, including smartphones, petroleum products and pharmaceuticals, remain outside their scope. Foreign direct investment improved with higher gross inflows, while outward foreign direct investment continued to decline.
August 25, 2026
Show AI Summary
BIS certification exemptions may be structured for high-tech manufacturers to ensure timely equipment imports and support domestic manufacturing operations.
Mandatory Bureau of Indian Standards (BIS) certification requirements for equipment and components used by high-technology manufacturers may be addressed through a proposed exemption framework. Possible exemptions may be structured at the company, industry, product, project or bulk level to support timely availability of imported equipment, goods and services for manufacturing operations. The approach is directed at high-technology industries generally, particularly semiconductor and artificial intelligence sectors, while addressing delays associated with mandatory certification and complex procedures for specialised imported parts and equipment.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Back

All News

Showing Results for : Reset Filters

9th Session of India-Kenya Joint Trade Committee Held in New Delhi

August 20, 2019

Contents
Summary
Note

Note

-

Bookmark

Print

Print

The 9th Session of the India-Kenya Joint Trade Committee (JTC) was held on 19th – 20th August 2019 in New Delhi. The Indian delegation was led by Union Minister of Commerce & Industry and Railways, Piyush Goyal. The Kenyan delegation was led by Peter Munya, Minister of Industry, Trade and Cooperatives, Government of the Republic of Kenya.

Piyush Goyal highlighted that India and Kenya enjoy a close and cordial relation. He underscored the friendship and solidarity, strategic partnership and multifaceted- cooperation between the two countries. Relationship between India and Kenya now evolved into a robust partnership, marked by regular high-level visits, increasing trade and investment as well as extensive people to people contacts.

In his opening remarks, Peter Munya, Minister of Industry, Trade and Cooperatives, Government of the Republic of Kenya, thanked the Indian Government for a warm reception, hospitality and successful hosting of the 9th Session of the India-Kenya Joint Trade Committee. Peter Munya observed that India has been a long historical trading partner of Kenya and also wished to have a fair balance of trade between the two countries. In this regard, he emphasized the need to facilitate the movement of people, goods and services based on reciprocity.

Both sides acknowledged that the JTC is an ideal framework for trade and economic expansion between two countries and reaffirmed their commitments to deepen the trade and economic ties further.

Review of Bilateral Trade

Both sides reviewed the developments in their bilateral trade and noted the trends since the last session of the India-Kenya JTC held in August 2018.

In 2018-19 India’s top items of exports were petroleum products, drug formulations, biological and industrial machinery for dairy, paper, paper board and products, plastic raw materials, two and three-wheelers, iron and steel, man made yarn, fabrics made-ups, books, publications and printing, electric machinery and equipment. On the import side, it was inorganic chemicals, pulses, coffee, drug formulations, biologicals, copper and products made of copper, wood products, aluminium, products of aluminium, Tea and finished leather. Both sides stressed the need to enhance trade relations and also to diversify the trade basket.

Export Potentials

Both sides expressed their willingness to explore trade opportunities in sectors like manufacturing, agriculture, agro-processing, floriculture, aquaculture, Information, Communication and Technology (ICT) and in products such as base metals & articles thereof, textiles & textiles articles, vegetables and horticultural products, plastics & rubber, chemical products and machinery & mechanical appliances.

SPS Protocol

The Kenya side proposed a draft SPS protocol/agreement for India’s consideration. The Indian side took note of the same and assured to look into their proposal and respond at the earliest before the next JTC. The Kenyan side further requested to set up a Joint Working Group (JWG) on this issue. The Indian side responded that after going through the draft protocol submitted by the Kenyan side during the meeting, the appropriate response would be communicated to the Kenyan side.

Bilateral Investment

The Indian side informed that according to the Kenya Investment Authority (KenInvest), India is the second-largest investor in Kenya after the USA. Indian investments in Kenya are estimated to be over USD 3.5 billion, including some investment routed through other countries and by subsidiaries of Indian companies. Kenya ranks 70th (USD22.96 Million Foreign Direct Investments (FDI) from Kenya between April 2000 – March 2019) in the investors list in India.

The Indian side informed that Invest India had signed MoU with other national Investment Promotion Agencies (IPAs) including that of Japan, South Korea, Canada and Saudi Arabia. Based on the interest of the Government of Kenya, Invest India could sign a MoU with Kenya Investment Authority to promote the bilateral investment. The scope of such collaboration may encompass the following:

  1. Exchange of information on investment opportunities, investment-related laws and regulations
  2. Encourage the exchange of business missions
  3. Assist existing and potential investors who seek opportunities for investment but face impediments to investment and to also provide further information on current laws and regulations to the potential investors.
  4. International cooperation for building capacities

Both sides agreed to explore such possibilities. Kenya welcomed the proposal on investment from India with the hope that it will provide a framework to guide investment flows from both sides. Further, Kenya informed India that there are investment opportunities in the Special Economic Zones (SEZs) of Kenya.

Recognition of Indian Pharmacopeia (IP)

Indian side informed that Indian export of pharmaceutical products to Africa constitutes about 20% of India’s total Pharma exports, and this has grown consistently. Indian Pharma sector is helping the African countries in promoting domestic manufacturing. Recognition of Indian Pharmacopoeia (IP) is an important step which will further facilitate both exports as well as domestic manufacturing in Africa. The Indian side proposed a special discussion on the subject between respective agencies of both countries through a JWG to consider recognition of Indian Pharmacopoeia so that both the countries could take benefit from the arrangement. The Indian side also shared the Concept note on Indian Pharmacopeia. The Kenyan side took note of the request from the Indian side for constituting a JWG for the said purpose.

The Kenyan side encouraged Indian companies to invest in the Kenyan pharmaceutical sector. The Kenyan side further proposed the Indian side to consider a Government to Government purchase of critical medicine such as medicine for Haemophilia, Post-Transplant Medicine and Cancer, among others.

Rice (Geographical Indication)

The Indian side informed that Basmati is special long grain aromatic rice cultivated in a particular geographical region of the Indian subcontinent. Basmati rice has been granted registration as a Geographical Indication (GI) in India by the certificate of registration according to the GI Registry in Chennai, India in February 2016. The Agricultural & Processed Food Products Export Development of Authority (APEDA) of India is the registered proprietor of the GI of Basmati rice and authentication of the product reaching the consumers in India and abroad.

It was further said that Kenya is operating several irrigation schemes under which rice is being grown and cultivated under the Bunyala Irrigation Scheme, Ahero Irrigation Scheme, Mwea Irrigation Scheme and West Kano Irrigation Scheme. It may be seen from the website of National Irrigation Board (NIB) that a strain of rice is being cultivated in Kenya under the irrigation described above schemes and being erroneously named as Basmati.

The Indian side stated that the issue was also reflected in Agreed Minutes of 2nd meeting of JCM held in New Delhi in March 2019. In the same meeting, the Kenyan side had promised to provide a copy of Kenyan court ruling on the subject, which is still awaited. The Indian side reiterated its request for a certified copy of the ruling. The Kenyan side welcomed the request from the Indian side and assured that it would take it up with the relevant Ministry to provide a certified copy of the court ruling.

India’s Investment in Kenya

Referring to the case of an Indian company, M/s.TATA Chemicals Magadi Ltd. (TCML), Africa's largest soda ash manufacturer and one of Kenya's leading exporters, the Indian side informed that High Court of Kenya, in its decision on 3rd May 2019, had quashed the demand of Ksh 17 billion put forth by the Kajiado County government and asked Ministry of Mines to mediate and resolve the disputed subject within 6 months. It also questioned whether retrospective enhancement of the land rate could be done. If yes, then what should be the rate, as TCML is already paying a royalty to the Ministry of Mines. It was further informed that M/s TCML had written to the Ministry of Mines for the mediation but two months have passed, and the Ministry has not replied. The Indian side also flagged the issue wherein the County Government had arbitrarily recently raised the bill for the water usage by the TCML township, whereas only Water Resource Management Authority (WRMA) is the competent authority for the same. The Indian side requested the Kenyan side for immediate intervention for an amicable resolution. The Kenyan side informed the Indian side that the matter was brought to the attention of the Ministry of Mining and discussions are going on to get the long-lasting solutions.

Strengthening of Bilateral Trade

The Kenyan side requested the Indian side to consider supporting Kenya’s private sector to participate in the following trade fairs:

i) India International Leather Fair February 2020

ii) SME products for Home Deco, July 2020

iii) India International Footwear Fair, August 2020

The Indian side took note of the request and promised to forward it to the relevant authorities.

Review of the Lines of Credit

The Indian side stated that it offers development assistance to Kenya in the form of loans and credit. It was further informed that Export-Import Bank (EXIM) of India, has on behalf of Government of India, extended 4 Lines of Credit [LoCs] aggregating USD 206.55 million to Kenya. Contracts with a total amount of USD 93.73 million for the projects in areas such as power transmission lines and substations, development of SMEs and textile sector have been included under the LoCs. Details of four lines of credit are given below:

i. LoC of USD 61.60 million for Power Transmission Lines and Substations

The LoC Agreement was signed on November 16, 2010. Kenya Electricity Transmission Company Ltd. [KETRACO] is the implementing agency of the project. Under the LoC, three contracts are included, and one contract was terminated. Kenyan side is requested to resolve the right of way (RoW) issue for the early completion and closure of this project.

ii. LoC of USD 100 million for Agri Mechanization

The LoC Agreement was signed on January 11, 2017. The Ministry of Agriculture, Kenya, forwarded a plan of utilization along with the list of tractors and agricultural implements, proposed to be procured under the LoC. On March 23, 2017, EXIM Bank requested for two separate lists of equipment and implements along with cost break-up to enable preparation of the Prequalification (PQ) documents. On May 18, 2018, Government of Kenya requested for revision of the packages. The Ministry of Agriculture, Fisheries and Livestock is reworking the list of goods, services and projects to include drip irrigation system, storage rooms, granaries, cotton ginning machines, construction of livestock & meat processing units, to be procured under the LoC. The Ministry is also looking at incorporating skill development and training component. EXIM Bank awaits project details along with its estimated cost and technical specifications of the requirement to enable PQ exercise. The contract inclusion period expired on July 11, 2018. On June 11, 2019, Government of Kenya requested for extension of credit availability till June 30, 2020.

The Indian side informed that the Department of Economic Affairs is examining the proposal of the Government of Kenya and assured to expedite the decision on the same.

iii. LoC for development of SMEs

  1. IDB Capital USD 15 million

The LoC Agreement was signed on July 11, 2016. A loan agreement to extend lines of credit of USD 15 million (as the first tranche out of USD 30 million) to IDB Capital Limited, Kenya for development of various SMEs was signed in July 2016. So far, six contracts aggregating to USD 3.10 million have been included under the LoC. One new contract aggregating to USD 0.94 million is at an initial stage of inclusion.

b) Kenya Industrial Estates Limited

Kenya requested a line of credit from India (EXIM Bank) to the tune of USD 30 million on concessionary terms to Kenya Industrial Estates for purposes of on-lending to the SMEs.

The Kenyan side requested the Indian side to lower the percentage for local content from India – from 75% to 51% to enhance the uptake.

The Indian side took note of the request and assured to forward it to the authority concerned.

iv.     LoC of USD 29.95 million for up-gradation of Rift Valley Textile (RIVATEX East Africa) Ltd.

Both sides noted the inauguration of upgradation of RIVATEX factory successfully done by President Kenyatta on 21st June 2019.     

The Indian side informed that an amount of USD 3,583,938.10 due for payment on August 05, 2019, towards interest for the LoC of USD 61.60 million and USD 29.95 million had not been received from the Government of Kenya as on date. Kenyan side assured to expedite their response soon.

Cooperation in Micro Small and Medium Enterprises Sector (MSME)

Keeping in view the extent and role of Small and Medium-Size Enterprise (SME) sector in India, the Kenyan side expressed interest in knowledge sharing in the SME sector.

Responding to this, the Indian side offered the following:

  1. (i) To share its experience and expertise with Kenya, National Small Industries Corporation (NSIC) can offer fee-based consultancy services and training in the following areas of Micro and Small Enterprises (MSE) development.
  2.  
  1. Capacity Building
  2. Policy & Institutional Framework
  3. Entrepreneurship Development
  4. Business Development Services

(ii) Skill up-gradation programmes for Kenyan entrepreneurs in selected areas such as CNC machining, sheet-metal technologies, CAD & CAM designing, wool processing & weaving, leather and textile technology, plastic technology and wood work in Kenya or in India through its training and technology development centres on mutually agreed terms.

(iii) NSIC can undertake skill-based training programmes at its Technical Centres in New Delhi or other Centres under Indian Technical and Economic Corporation (ITEC) programme.

(iv)Setting up of Training, Incubation Centres for development of MSEs / Vocational Training Centres in Kenya.

(v) Establishment of Turnkey Projects for setting up small enterprises in Kenya on commercial terms.

(vi) To facilitate enterprise-to-enterprise cooperation, increase awareness and enhance investment / technology-based collaborations, exchange of business delegations from India to Kenya and from Kenya to India can be organized. These delegations can be sector-specific or represent 2-3 sectors as per the requirement.

The Kenyan side identified Micro and Small Enterprises Authority (MSEA) as the nodal agency for coordination with NSIC.

 Cooperation in the Power Sector

The Indian side stated that:

I. NTPC Limited has expressed its willingness for setting up Utility-Scale Solar Photovoltaic (PV) power Project(s), developing a Liquefied Natural Gas (LNG) based power projects, possible Joint Venture/Joint Development of power projects with KANGEN. It also expressed its readiness to provide training & development to Kenya power sector professionals for capacity building.

II. Indian PSUs have expressed their willingness to assist Kenya in the planning and implementation of their transmission system.

III. POWERGRID, a PSU under Ministry of Power, is keen to execute new projects in Kenya.

The Kenyan side took note of the proposals and agreed to take up with the relevant Ministry.

 Cooperation in Renewable Energy

i. The Indian side requested the Kenyan side to ratify and sign the International Solar Alliance (ISA) Framework Agreement. The Indian side also invited the Kenyan side to participate in the upcoming Third Edition of Global Renewable Energy Investors' Meet & Expo (3rd RE-INVEST) scheduled to be held from 31st October to 2nd November 2019 in New Delhi-National Capital Region (NCR).

ii. The Indian side proposed an MoU between the Ministry of New and Renewable Energy (MNRE) and its Kenyan counterpart on cooperation in the field of renewable energy.

iii The Indian side said that India had set a power generation target of 175 GW from renewable energy sources by 2022 (Solar 100 GW, Wind 60 GW, Bio 10 GW, Small Hydro Power [SHP] 5 GW). The Indian side encouraged Kenya to participate and develop the solar and wind energy markets.

iv. The Indian side offered a collaboration between Institutes under Ministry of New and Renewable Energy (MNRE) like National Institute of Solar Energy (NISE), National Institute of Wind Energy (NIWE), Solar Energy Corporation of India Limited (SECI) and National Institute of Bio-Energy (NIBE) with Kenyan institutions in the areas of R&D, consultancy, training and capacity building and resource assessment.

The Kenyan side accepted the invitation to participate in 3rd RE-Invest and took the note of the proposals by the Indian side and assured to respond soon.

 Cooperation in Housing & Urban Development

i. Both sides recalled the productive discussions held in the 2nd meeting of India-Kenya Joint Technical Committee (JTC) on Housing, held in Nairobi on 30th May 2019, on the sidelines of the 1stUN-HABITAT Assembly and agreed to expand cooperation in the field of housing through capacity building of Kenyan officials. It was also decided to share the policies and best practices in the area mutually and to organize a Conference on Housing in India and exploring partnership between Kenya Institute of Housing and Building Technology (KIHBT) and Building Materials and Technology Promotion Council (BMTPC), India.

ii. Both sides also agreed to expand the MoU signed between the Ministry of Housing and Urban Affairs, the Government of the Republic of Kenya on cooperation in the field of National Housing Policy Development and Management on 11thJuly 2016 to strengthen cooperation in the areas of sustainable urban development including smart cities, water and waste management and urban mobility.

iii. Kenyan side requested for technical assistance to support the implementation of Kenyan urban and affordable housing programmes. Indian side responded that it is open to provide all kinds of technical support in the housing sector.

 Cooperation in Petroleum and Natural Gas

The Indian side stated that:

  1. ONGC Videsh Limited (OVL) is also ready to offer its cutting-edge technologies and services of experienced geoscientists to carry out joint studies in areas of mutual interest spanning exploration, production and development.
  2. Indian PSUs have expressed their interest to work in specific areas of oil and gas business such as LPG marketing & distribution and Lube business, with Kenya.
  3. Further, three Indian Public Sector Units (PSUs), OVL, Indian Oil Corporation (IOCL) and Bharat Petro Resources Limited (BPRL), (BPRL, wholly owned subsidiary of BPCL) have expressed their interest to participate in the opportunities for conventional producing / near producing assets based on techno-commercial considerations. They are also keen to participate in the next oil & gas bidding rounds in Kenya.
  4. Indian PSU EIL (Engineers India Limited) has also expressed its interest in providing engineering consultancy services from concept to commissioning in the hydrocarbons sector covering offshore and onshore oil and gas, petroleum refineries, petrochemicals, pipelines, terminals and storages facilities.

The Kenyan side took note of the request by the Indian side and will relay the information to the relevant Ministry.

Cooperation in Standards

  1. The Indian side said that following the signing of the Memorandum of Understanding (MoU) between Bureau of Indian Standards (BIS) and Kenya Bureau of Standards (KEBS) on 11th July 2016 for cooperation in the fields of standardization, conformity assessment and training, BIS has exchanged information on its activities. Similar information from the Kenyan side was sought for strengthening the cooperation in compliance with the provisions of the MoU. BIS has also shared information on the capacity building programme being organized by BIS for consideration and utilization of KEBS.
  2. It was further informed that BIS had proposed an Action Plan for the implementation of the provisions of the MoU signed on 27th Dec 2016 for consideration to the Kenyan side. Follow-ups were made on 15thJune 2017, 14th August 2018, 13thNovember 2018 and in March 2019 during the visit of the Kenyan delegation to BIS. However, the response of the Kenyan side is awaited. The Kenyan side assured to expedite the response by the end of October 2019.

Cooperation in Civil Aviation

i. The Indian side informed that Air India desires to operate to Mombassa on the code-sharing arrangement with Ethiopian Airlines. It is planning to operate on New Delhi–Addis Ababa-Mombasa route.

The Kenyan side informed that Kenya Airways is interested in operating flights in code-sharing arrangements to Cochin, Chennai, Bangalore and Kolkata.

Both sides agreed to expedite their responses on the respective requests.

 Training and Scholarships

  1. The Kenyan side requested India to consider providing more scholarships in technical courses in Kenya’s priority areas such as medicine, engineering, space science and hydrocarbons, donate learning equipment to Kenyan Universities and create partnerships between Indian and Kenyan Universities.
  2. The Indian side said that Kenya is covered under the Africa Scholarship scheme of the Council. The fixed slots offered to Kenya are 52. The Slots utilized for the academic years 2016-17, 2017-18 and 2018-19, are 41, 22 and 28 respectively. For this current AY 2019-2020, out of 52 slots for Kenya, 56 applications have been received by the Council, out of which 41 confirmations have been sent to the Indian Mission.
  3. The Kenyan side expressed the gratitude for the scholarships offered so far. Further, the Kenyan side requested the Indian side to consider awarding the full allocation of 52 scholarships. The Indian side stated that the information regarding the availability of courses and eligibility criteria for the applicants is available on ICCR’s A2A web portal. The Kenyan side may screen all the applicants based on the information available in this portal.
  1. The Indian side took note of the request for giving more time to the applicants to file their applications.

  Cooperation in Agricultural Research

  1. The Indian side informed that the development of Work-Plan for the Agriculture Research and Education under the MoU signed on 11/01/2017 between Ministry of Agriculture & Farmers Welfare of Government of India and Ministry of Agriculture, Government of Kenya. The Indian side was of the view that cooperation between the Ministry of Livestock and Fisheries of the Government of Kenya with Department of Agricultural Research and Education (DARE)/ Indian Council of Agricultural Research (ICAR) in the agriculture and the allied sector could be taken forward.
  1. The Kenyan side sought the financial and technical support to rehabilitate and modernize training facilities in bee-keeping, boost bee population and produce high-quality honey by enhancing Hive Products Quality Assurance Function through purchase and installation of honey analysis equipment and Revamping of the Bee Colony Multiplication Hub at the National Bee-keeping Institute. The Indian side took note of the same and assured to look into their proposal.

 Both the sides agreed to form a JWG to take the MoU forward.

 Cooperation in Anti-Counterfeit

The Kenyan side informed that it seeks collaboration in training anti-counterfeiting enforcement officers and other personnel on specific programmes and events to better understand IP regimes. The cooperation includes:

  1. Training on Intellectual Property Rights (IPRs), specifically on enforcement of IPRs and their link to international trade;
  2. Training on market intelligence gathering concerning counterfeiting;
  3. Training on the effectiveness of public outreach and training as a means to reduce the demand for counterfeit goods;
  4. Emerging technologies that improve efficiency in the management, protection, enforcement & identification of counterfeit goods; and
  5. Exchange Programs on matters of counterfeiting.

The two countries agreed to work together in the fight against counterfeiting and other forms of illicit trade.

Cooperation in Immigration

The Kenyan side informed JTC that it has been issuing visas on arrival to Indian nationals and work permits expeditiously. For instance, in 2018 Kenya issued 6,263 work permits to Indian nationals.

The Kenyan side requested the Indian side for reciprocal treatment in regards to visa issuance at the Port of Entry and processing of work permits for Kenyans.

The Indian side noted the request and assured to forward the same to the relevant authorities.

The JTC was preceded by the Senior Officers Meeting on 19th August, 2019 which was co-chaired by Dr. Chris Kiptoo, Principal Secretary, State Department for Trade, Ministry of Industry, Trade and Cooperatives, Government of Republic of Kenya and Keshav Chandra, Joint Secretary (Africa), Department of Commerce, Government of India.

The discussions were conducted in a warm and cordial atmosphere reflecting the close and friendly relations between the two countries.

Both sides agreed to hold the next session of the Joint Trade Committee meeting in Nairobi to be decided mutually through diplomatic channels within the next two years.

In the recent past, there have been high-level visits from both sides affirming deep ties between both the countries. Suresh Prabhu, Minister of Commerce & Industry and Civil Aviation paid a State Visit to Kenya during 22nd – 25th August 2018 to co-chair the 8th Meeting of India-Kenya Joint Trade Committee, while Ambassador Monica Juma, Cabinet Secretary for Foreign Affairs, led Kenyan delegation to New Delhi during the Joint Commission Meeting (JCM) in March 2019. President Uhuru Kenyatta paid a State Visit to India from 10th to 12th January 2017 on an invitation extended by Prime Minister, Narendra Modi. The two leaders held official talks on 11th January in New Delhi. President Kenyatta attended the Vibrant Gujarat Summit 2017 on 10th January 2017. Dr Harsh Vardhan, Minister of Environment, Forest and Climate Change, visited Kenya from 4th to 7th December 2017 to attend the 3rd Session of United Nations Environment Assembly. M. J. Akbar, Minister of State for External Affairs, visited Kenya from 27th to 28th November 2017 to attend the swearing-in ceremony of President Kenyatta.

Important Memorandum of Understanding (MoUs) /bilateral Agreements like the revised Double Taxation Avoidance Agreement (DTAA), bilateral agreement on exemption of visa for holders of Diplomatic passports, MoU on defence cooperation, MoU on Cooperation in the field of standardization and knowledge sharing between Bureau of Indian Standards and Bureau of Kenya Standards have been signed during the visits of dignitaries from Kenya and India.

Topics

Acts Income Tax