In what ways foreign investment can enter India and a
foreign company invest in Indian company?
A foreign company can commence operations in India by incorporating a company under the Companies Act as a subsidiary (including a wholly owned subsidiary) or as a joint venture company.
Two routes of FDI: The automatic route (no prior approval is required) and the approval route.
For more information on the FDI policy visit:
link 1 and
link 2
Foreign Institutional Investors (FIIs), Non-Resident Indians (NRIs), and Persons of Indian Origin (PIOs) can invest in the primary and secondary capital markets in India through the portfolio investment scheme (PIS). Under this scheme, FIIs/NRIs can acquire shares/debentures of Indian companies through the stock exchanges in India. For more information on investment in Indian Companies by FIIs/NRIs/PIOs visit:
What are the different types of company structures
and
its Pros and Cons?
The Ministry of Corporate Affairs defines the different company structures
based on
its size/ number of members/ basis of control or liability/ ownership/ access to
capital.
Considering the nature of investment, investment strategy most widely preferred
route for investors is private limited company.
There are few differences between Private Ltd company and LLP viz, during the
registration process a Pvt. Ltd will propose Directors while an LLP shall
propose
Partners. LLP incorporation fee, checklists of documents required are relatively
lesser than Pvt Ltd company.
Further, limited liability companies enjoy the liability protections of a
corporation as well as structural and tax advantages of a partnership.
Significant
difference between LLCs and LLPs is that LLPs must have at least one managing
partner who bears liability for the partnership's actions.
Some pros and cons for each type of company structure are presented below:
Partnership regulated under The Indian Partnership Act, 1932
A partnership is formed when two or more people start a business with a goal of
making a profit.
Pros:
Easy to establish
Partnerships are 'pass through' entities, as in each partner individually pays
taxes on their share of distributions
Cons:
Each partner is liable for the debts and obligations of the business
Profits must be shared
Personal disagreements can occur
General partnerships have limited ability to raise capital
Limited Liability Company (LLC) regulated under The Limited Liability Partnership Act, 2008
Pros:
Limited liability for partners
No double taxation – earnings and losses pass on to the owners
No limit on number of shareholders
Any member or owner can be involved with the operations of the LLC (unlike a
Limited Partnership)
Fewer filing and administrative requirements than a corporation
Cons:
LLCs have numerous regulatory and filing requirements than a sole
proprietorship
or partnership
Corporation regulate under The Companies Act
Pros:
Liability protection for owners of the corporation
Personal assets of owners are not at risk to creditors
A corporation can retain profits without the owners paying tax
A corporation has higher capability to raise capital and offer different
levels
of stock
Cons:
Federal, state, and many local agencies monitor corporations and often have
different regulatory requirements, ultimately increasing compliance costs.
Corporations often have higher overall tax rates
Shareholder dividends are not tax deductible for the corporation
Income is taxed twice – at the corporate tax rate and again at the
individual income tax rate
Which is the official site for information on
company registration?
The Ministry of Corporate Affairs website should be accessed for any details regarding company registration
Company name availability can be checked here: Click Here
What are the various requirements of the board of
directors of Private limited company?
The Ministry of Corporate affairs defines minimum and maximum number of
directors
and their age limits, manner of appointment, removal and resignation, mode
of
appointment, remuneration etc.
Will government issue certification/ license
once
company is registered?
Once incorporation is complete a softcopy of the certificate is sent to the
company, however, on request a hardcopy is issued by the Ministry of
Corporate
Affairs for a nominal fee. Click Here
Investing in your company
What are the Capital instruments permitted for
receiving foreign investment in an Indian company?
'Capital Instruments' are equity shares, debentures, preference shares and
share
warrants issued by the Indian company.
Non-convertible/ optionally convertible/ partially convertible preference
shares
issued as on and up to April 30, 2007 and optionally convertible/ partially
convertible debentures issued up to June 7, 2007 till their original
maturity
are
reckoned to be FDI compliant capital instruments. Non-convertible/
optionally
convertible/ partially convertible preference shares issued after April 30,
2007
and
optionally convertible/ partially convertible debentures issued after June
7,
2007
shall be treated as debt and shall require conforming to External Commercial
Borrowings guidelines regulated under Foreign Exchange Management (Borrowing
and
Lending in Foreign Exchange Regulations), 2000, as amended from time to
time.
Are the investments and profits earned in
India
repatriable?
All foreign investments are repatriable (net of applicable taxes) except in
cases
where the investment is made or held on non-repatriation basis.
Investment in sector like defence wherein the foreign investment may be
subject
to
a lock-in period. Dividends (net of applicable taxes) declared on foreign
investments can be remitted freely through an authorized dealer bank.
Optionality clauses are allowed in equity shares, fully, compulsorily and
mandatorily convertible debentures and fully, compulsorily and mandatorily
convertible preference shares under FDI scheme, subject to the following
conditions:
There is a minimum lock-in period of one year which shall be effective from
the
date of allotment of such capital instruments.
After the lock-in period and subject to FDI Policy provisions, if any, the
non-resident investor exercising option/right shall be eligible to exit
without
any
assured return, as per pricing/valuation guidelines issued by RBI from time
to
time.
Remittance is allowed on sales proceeds and transfer of shares/capital
instruments
is also possible as means of terminating the investment.
The Finance Bill 2020 has proposed to abolish Dividend Distribution Tax. Click Here
What are Share transfer restrictions?
A private limited company is a "closed
corporation"
Transfer of shares may be restricted by the Articles of Association
(AOA)
of
the company. The AoA must be reviewed prior to beginning the share transfer
procedure.
Section 2(68) of the Companies Act, 2013
provides
that the Articles of a
private company shall restrict the
right
to transfer the company's shares. Click Here
Land availability and costs
Where can an industry be set-up in Tamil
Nadu?
GIS Map showcasing land banks availabilities Click Here
What is the cost of industrial land in
Tamil
Nadu
and its connectivity? Availability of incentives?
SIPCOT industrial estates have a well-established
ecosystem
and industrial infrastructure.
SIPCOT land bank details are available here: Click
Here
All SIPCOT industrial parks, provide investors with following incentives -
50%
exemption of stamp duty. Additional 50% capital subsidy ranging from
$22-160k.
Can Private limited company acquire land, real
estate
(not right of use)? Any limitation?
The Right to Fair Compensation and Transparency in Land Acquisition,
Rehabilitation
and Resettlement Act, 2013 and The Tamil Nadu Acquisition of Land for
Industrial
Purpose Act, 1997 guide and governs land acquisition.
In the case of land acquisition for private companies, the prior consent of
at
least eighty percent, of the affected families must be obtained.
The provisions relating to rehabilitation and resettlement under the Right
to
Fair
Compensation and Transparency in Land Acquisition, Rehabilitation and
Resettlement
Act, 2013 shall apply in cases (a) a private company purchases land, equal
to or
more than such limits in rural areas or urban areas, as may be prescribed by
the
appropriate Government, through private negotiations with the owner of the
land;
(b)
a private company requests the appropriate Government for acquisition of a
part
of
an area so prescribed for a public purpose: Provided that where a private
company
requests the appropriate Government for partial acquisition of land for
public
purpose, then, the rehabilitation and resettlement entitlements under the
Second
Schedule shall be applicable for the entire area which includes the land
purchased
by the private company and acquired by the Government for the project as a
whole.
Can land be purchased from SIPCOT on free-hold
basis?
No, land cannot be acquired on free-hold basis from SIPCOT.
What is the minimum lease period? Can the land be leased
for
a
shorter period?
The current minimum lease period is 99 years.
Is transfer of lease hold rights an option? When does
the
need
to transfer arises?
Yes, lease hold rights can be transferred if there is a change in the share
holding
pattern where more than 50% of the share holding is transferred to new persons
resulting
in total/ substantial change in ownership in the existing allottee unit or
transfer
to a
unit where original promoters of the existing allottee hold less than 50% shares
in
the
new transferee unit.
Mahindra World City also provides plug & play facility Click
Here
Will Soil Testing report and contour map be provided for the land parcel?
Soil testing report is provided on request and contour map is available for the
entire
estate, not plot wise.
Will TWAD/SIPCOT/CMWSSB provide water for both industrial
as
well
as domestic use?
Yes, TWAD/SIPCOT/CMWSSB provides both industrial and domestic water supply.
Is it possible to re-route the water channel/water body in
the
industrial land? If yes, what is the procedure?
Yes, water channel/ body can be re-routed within the SIPCOT estate. The investor
must
represent its case to SIPCOT or PWD post which inspection will take place and cost
implications will be borne by the investors.
Labour regulations
What is the pre-tax salary of employees?
Since labour is a concurrent subject in the Indian Constitution, minimum wage rates
are
determined both by the Central and State Government. Minimum wage rates in India
depends
on
national, state, sectoral and skill/occupational levels. Also, minimum wage is
established
for trainees, youth and piece-rate workers. Minimum wage is determined by
considering
the cost of living.
The minimum wage is mandated as per the Minimum Wages Act, 1948 Click Here
What is the pre-tax wage of unskilled workers?
This is left to the discretion of the employer. The minimum wage is mandated as per
the
Minimum Wages Act, 1948 and the Tamil Nadu Shops and Establishments Act, 1947. Click Here
For rates of daily wage payable within the Chennai district please check: Click Here
How long are the working hours? Are there any
restrictions
on
overtime?
As per The Factories Act, no adult worker shall be required or allowed to work in a
factory
for more than forty-eight hours in any week. With reference to overtime work, the
worker
is
entitled to wages at the rate of twice his/her ordinary rate of wages. Click Here
The Tamil Nadu Chapter III of the Shops and Establishment Act defines the daily and
weekly
working hours. Details in Click
Here
Are
there
any
social insurances that we need to pay for our employees, if yes, what are the specific
categories? What is the payment ratio?
The employer shall contribute towards the Employees State Insurance Corporation for
all
employees earning Rs. 21,000 or less per month as wages. The rates are revised from
time
to
time. Currently, the employee's contribution rate (w.e.f. 01.07.2019) is 0.75% of
the
wages
and that of employer's is 3.25% of the wages paid/payable in respect of the
employees in
every wage period. Employees in receipt of a daily average wage upto Rs.137/- (~US$
2.0)
are
exempted from payment of contribution. Employers will however contribute their own
share
in
respect of these employees. Click Here
The employer shall contribute towards the employee provident fund (EPF), employees
deposit
linked insurance scheme (EDLI) and employee pension scheme (EPS). Details for this
are
available on the following link. Click Here
What are the other welfare provisions for employees?
Companies may choose to offer benefits and perks as they deem fit. This is not mandatory. Many companies in India structure their employee pay packages with medical insurance, leave travel allowance etc., as it is exempted up to a limit under income tax for salaried individuals.
As per the Tamil Nadu Industrial Policy 2014, flexibility in employment conditions including flexible working hours for women and shorter and longer duration of working hours, 24x7 operations (3 shifts), employment of women in the night shifts and flexibility in hiring contract labour will be permitted.
Some other Acts that guide and safeguards the interest of employees are:
The Equal Remuneration Act, 1976, The Maternity Benefit Act, 1961, The Payment of Gratuity Act, 1972, The Industrial Employment (Standing Orders) Act, 1946, The Inter-State Migrant Workmen (Regulation of Employment and Conditions of Service) Act, 1979, The Contract Labour (Regulation and Abolition) Act, 1970, The Payment of Bonus Act, 1965, The Tamil Nadu Payment of Subsistence Allowance Act, 1981, The Minimum Wages Act, 1948
Click Here
TN Labour Welfare Board details out certain benefits for industrial workers. Click Here
How do Indian factories generally arrange accommodation for employees? Are there any special rules in Tamil Nadu?
Companies may choose to offer accommodation facilities however; it is not mandatory. Many companies in India structure their employee pay packages with a house rent allowance as it is exempted up to a limit under income tax for salaried individuals.
What is the minimum wage and personnel expense?
The minimum wage is mandated as per the Minimum Wages Act, 1948 (Both for salaried
employees and daily wage labourers) Click Here
Consumer price index captures the cost of living. Click Here
What is the salary and overtime hourly rate?
As per The Factories Act, no adult worker shall work in a factory for more than
forty-eight
hours in a week. Where a worker works in a factory for more than nine hours in any
day
or
for more than forty-eight hours in any week, the worker is entitled to wages at the
rate
of
twice his/her ordinary rate of wages. Click Here
The Tamil Nadu Chapter III of the Shops and Establishment Act defines the daily and
weekly
working hours. Click
Here
What is the policy for annual paid leave?
Section 79 of The Factories Act, 1948 states that every worker who has worked for a
period
of 240 days or more in a factory during a calendar year shall be allowed leave with
wages
during the subsequent calendar year.
Click
Here
What is the policy for pension and its related regulation?
Government of India has introduced a pension scheme for unorganised workers
called Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) to ensure old age
protection.
Each subscriber shall receive minimum assured pension of Rs 3000/- per month after
attaining
the age of 60 years. During the receipt of pension, if the subscriber dies, the
spouse
of
the beneficiary shall be entitled to receive 50% of the pension received by the
beneficiary
as family pension which is applicable only to spouse. For more details Click Here
Laws and Rules Governing Employee Benefits and Labour Welfare Measures and Social
Securities Benefits Click
Here
Can labor union be established in SEZ, or is it forbidden?
Procedure and mechanism for resolving disputes.
Labour laws are applicable in SEZs, therefore trade unions can be formed within
SEZs as
well.
Click Here
Alternate Dispute Resolution in India consist of the following types - arbitration,
conciliation, negotiation and mediation.
Mediation is a voluntary process where the disputing people decide to mutually find
a
solution to their legal problem by entering into a written contract and appointing a
mediator. The decision-making powers remain with the disputing parties with the
mediator
acting as a buffer to bring them to an understanding.
To adopt arbitration as a dispute resolution mechanism an agreement to that effect
is
signed between the disputing parties. The parties can either opt for a separate
arbitration
agreement to be signed between them or include an arbitration clause in the main
contract
between the parties.
The Arbitration and Conciliation (Amendment) Act, 2015 governs and regulates
dispute
resolution in the country. Click Here
Legal age of workforce?
The Child Labour (Prohibition and Regulation) Act, 1986 defines the permittable
work-age as
14/ 15 years depending on the nature of commercial undertakings. Click
Here
Chapter IV of the TN Shops and Establishments Act Click
Here
TN Catering Establishments Act prohibits employment of children below the age of
14-16
Click Here
Chapter 25 of the Tamil Nadu Handloom Workers (Conditions of Employment and
Miscellaneous
Provisions) Act, 1981 Click
Here
Chapter 18 of the Tamil Nadu Manual Workers Act Click Here
Procedure to terminate an employee in India.
This is based on labor contract signed between the employee and the employer.
However,
labor laws supersede the provisions of labor contracts. In absence of a contract,
State
law
has to be followed.
Tamil Nadu Shops and Establishments Act, 1947, an employer cannot terminate an
employee
that has been with the enterprise for more than six months, except for a 'reasonable
cause'.
In addition, an employer must provide 1 month notice. If misconduct is the cause for
termination, no notice or associated payoff is required.
Procedure for employing women between 7pm to 6am.
Employment of women at night invites certain regulations, few are listed below:
Duty of the occupier of t factory to ensure safety for the women workers
Maintaining of a complaint mechanism
There should be proper lighting in and around the factory
Not less than ten and not less than two third of the total strength of workers
should be
women at night shift
Safe transport should be provided
For detailed guidelines for employment of women in night shifts check: Click
Here
Employment of specially-abled individual.
Persons with Disability Act 1995 Chapter VI Employment defines the Government
initiative on
employing differently abled individuals. Click Here
The appropriate Governments and the local authorities shall, within the limits of
their
economic capacity and development, provide incentives to employers both in public
and
private sectors to ensure that at least five per cent. of their work force is
composed
of
persons with disabilities. Click
Here
What are the daily working hours of factory workers?
Section 54 in Chapter VI of the Factories Act, 1948 states that no adult worker shall be required or allowed to work in a factory for more than nine hours in any day.
Click Here
What is the spread over for factory workers? Is there any
exception?
Section 56 of the Act stipulates that the period of work of an adult worker in a factory shall be so arranged that, inclusive of his intervals for rest under Section 55, it shall not spread over more than ten and half hours on any day. The Chief Inspector, may, however, increase the spread over upto twelve hours on specific grounds.
Click
Here
What is the contribution percentage towards Employees
State
Insurance?
The rate of contribution under the ESI Act is 4% (employers contribution is 3.25%
and
employees contribution is 0.75%) Click Here
What is the
employer,
employee contribution under the Employees Provident Fund & Miscellaneous Provisions Act,
1952?
The contribution to be paid by the employer to the Fund shall be [ten per cent] of
the
basic wages, [dearness allowance and retaining allowance (if any)] for the time
being
payable to each of the employees [(whether employed by him directly or by or through
a
contractor)], and the employees contribution shall be equal to the contribution
payable
by
the employer in respect of him and may, [if any employee so desires, be an amount
exceeding
[ten per cent] of his basic wages, dearness allowance and retaining allowance (if
any),
subject to the condition that the employer shall not be under an obligation to pay
any
contribution over and above his contribution payable. Click Here
What is the rate of minimum and maximum bonus?
A minimum bonus which shall be 8.33% of the salary/ wage earned by the employee
during
the
accounting year or one hundred rupees, whichever is higher, whether the employer has
any
allocable surplus in the accounting year or not.
Maximum bonus shall be an amount in proportion to the salary /wage earned by an
employee
during the accounting year subject to a maximum of twenty percent, of such salary or
wage.
Click Here
When is gratuity payable?
Section 4 of the Payment of Gratuity Act, 1972 states that Gratuity shall be
payable to
an
employee on the termination of his/ her employment after he/ she has rendered
continuous
service for not less than five years, - (a) on his superannuation, or (b) on his
retirement
or resignation, or (c) on his death or disablement due to accident or disease. Click Here
For every completed year of service or part thereof in excess of six months, the
employer
shall pay gratuity to an employee at the rate of fifteen days wages based on the
rate of
wages last drawn by the employee concerned. In the case of a monthly rated employee,
the
fifteen days wages shall be calculated by dividing the monthly rate of wages last
drawn
by
him by twenty-six and multiplying the quotient by fifteen. (3) The amount of
gratuity
payable to an employee shall not exceed three lakhs and fifty thousand] rupees.
Who is eligible for maternity benefits?
As per the Maternity Benefit Act, 1961 every woman shall be entitled to, and her
employer
shall be liable for, the payment of maternity benefit at the rate of the average
daily
wage
for the period of her actual absence immediately preceding and including the day of
her
delivery and for the six weeks immediately following that day.
Eligible for maternity benefit: A woman should have worked in an establishment of
the
employer from whom she claims maternity benefit for a period of not less than one
hundred
and sixty days in the twelve months immediately preceding the date of her expected
delivery.
Click Here
As per the Maternity Benefit (Amendment) Act, 1961 the maximum period of leave of
absence
for a woman having two or more than two surviving children shall be twelve weeks of
which
not more than six weeks shall precede the date of her expected delivery.
Under the Employees' State Insurance Scheme, who are
eligible
for
medical benefits?
The Employees' State Insurance Scheme is an integrated measure of Social
Insurance embodied in the Employees' State Insurance Act and it is designed to
accomplish
the task of protecting 'employees' as defined in the Employees' State Insurance
Act,
1948 against the impact of incidences of sickness, maternity, disablement and
death
due
to employment injury and to provide medical care to insured persons and their
families.
The
ESI Scheme applies to factories and other establishment's viz. Road Transport,
Hotels,
Restaurants, Cinemas, Newspaper, Shops, and Educational/Medical Institutions wherein
10
or
more persons are employed. Click Here
Utility connection and costs
What is the Cost of utilities (Water, Electricity) in
proposed
site?
HT supply to industries, registered factories, Textiles, Tea estates, IT services,
start up
power provided to generators etc., starts from Rs. 356.35 per kVA per month and HT
Temporary
Supply for construction and other temporary purposes is Rs. 366 per kVA per month.
Chennai city underground sewerage scheme: Click
Here
Regulation for purchasing/ importing telecom equipment
into
India.
The Indian Telegraph (Amendment) Rules, 2017, provides that every telecom
equipment
must undergo mandatory testing and certification prior to sale, import of use in
India.
Click Here
Tax regime
Trade/ Tax agreements of India.
India has trade agreements with most countries. India also has Double Taxation
Avoidance
Agreements with many countries.
Bilateral Investment Treaties Agreements with 10 different nations Click
Here
If the firm in India requires specific capital or machinery, can it be directly
purchased
from a foreign country, and invested as capital? (Furthermore, will it be the same
for
raw
materials?)
Machinery imported is considered as part of capital investment for calculating
'eligible investment' size. Approval may be sought for second-hand machinery to be considered
as
eligible investment on a case to case basis. Machinery will be considered based on
the
certification by charted engineer and duties paid. Imported raw materials are not
considered
to be eligible investment.
Regulations on import of machinery is simple for most sectors, however, sectors
like
defence are tightly regulated.
For more information on foreign trade policy visit: Click
Here
Information on valuation of second hand machinery visit: Click Here
India Trade portal provides detailed information on trade agreements, procedure for
export
& import, Import Export schemes, identifying of HS Code etc., Click
Here
Tax regime
Goods & Services Tax: Rate schedule for goods Click Here
Transfer pricing under Sections 92 to 92F of the Indian Income Tax Act, 1961 (the
Act)
covers intra-group cross-border transactions. For details on transactions check: Click Here
Rate of VAT
For details on VAT applicability and rate check: Click Here
Foreign nationals residing in India with income more than Rs.2.5 lakhs p.a. file
income
tax return as per the Income Tax Act, 1961.
Liable to pay tax when resides in India:
for a period of 182 days or more
for minimum of 60 days, not more than 182 days, & residing over the previous
4
years
prior to the taxation year for a total of 365 days or more
Click Here
What is the insurance requirement for foreign employees
in
India?
Foreign Exchange Management (Insurance) Regulations, 2015 governs General/Health
Insurance
and Life Insurance in India. Click Here
Incentives
What incentives does the Government offer to foreign
investors?
Both the central and state governments offer various schemes and subsidies to firms
in
certain sectors.
Central Government incentives:
Modified Special Incentive Package Scheme(M-SIPS)- capital subsidy of 20% in SEZ
(25%
in
non-SEZ) for units engaged in electronics manufacturing. Click
Here
Corporate Income Tax of 15 % for new manufacturing companies. Any new domestic
company
incorporated on or after 1st October 2019 making fresh investment in manufacturing
shall
have an option to pay income-tax at the rate of 15% (effective tax rate of 17.01%
inclusive
of surcharge & cess) and are not required to pay Minimum Alternate Tax. This
makes
India
more competitive on tax rates as compared to Southeast Asian countries.
State Government incentives:
For the list of all available incentives as per the present GST regime- Click Here
Industrial Policy 2014:
Incentives relating to Power supply: All units with demand of more than 10 MVA will
be
provided with reliable supply at 110 KV or 230 KV level depending on the
eligibility.
Captive power plants will be treated as eligible fixed assets for the purpose of
the
structured package of assistance.
Refund of 50% of the VAT paid on purchase of capital goods exclusively for captive
power
generation within the construction period, provided they are manufactured in Tamil
Nadu.
Water: Incentives to set up desalination plants/ waste-water treatment and
recycling
plants
For MSME: Floor Space Index (FSI) incentive of 50% will be given for non-Multi
Storyed
Building.
Industrial units in existence in the state for over 10 years will be given suitable
extra
benefits for expansion projects Click Here
Incentives to Micro Small & Medium Enterprises
Subsidy schemes for micro manufacturing enterprises
For MSME manufacturing units, online application available here: Click
Here
Are
benefits
such as employee training fee compensation, stamp reduction, lower interest rate, etc.,
available for foreign investor?
The Government will offer training subsidy as an incentive on a case to case basis
taking
into account the capacity of employment generation and the potential for significant
improvement of skills. Click Here
Stamp duty exemption on lease or purchase of land meant for industrial use to the
extent
of 50% would be available for all manufacturing industries setting
up
new
or expansion units with an investment in eligible fixed assets of more
than
Rs 5
crores in private industrial parks. Click Here
Stamp Duty concession: 50% Exemption from Stamp duty on lease or sale of land meant
for
industrial use shall be offered for projects located in Industrial parks promoted by
SIPCOT
in A and B category districts. In the case of Ultra Mega projects, it will be 100%,
irrespective of location. Click Here
Skill availability
Human resources in the State.
Number 1 State in India in case of technical universities; pioneer in promoting
technical education
Number 2 State in India in terms of most employable talent; over a million
graduates
are
added to the state's talent pool every year
1900+ colleges and is home to institutions such as IIT, IIM, Anna University,
TNAU,
NIT,
NIFT and other leading universities Click
Here
How are the skill
set
of
Tamil Nadu's workforce? What is the workforce participation rate in the State?
Percentage of
working population in the State?
Tamil Nadu Skill Development Corporation has been formed to transform the state
into a
skill hub and thereby enhance their employability and match the expectations of the
industry. It provides multitude of schemes for unskilled, semi-skilled workers and
upskilling requirements. Click Here
Number 1 State in India in case of technical universities; pioneer in promoting
technical education
Number 2 State in India in terms of most employable talent; over a million
graduates
are
added to the state's talent pool every year
1900+ colleges and is home to institutions such as IIT, IIM, Anna University,
TNAU,
NIT,
NIFT and other leading universities Click
Here
In Tamil Nadu a "demographic dividend" is at its peak i.e., higher proportion of 15
to
60
age groups in total population. Click
Here
Estimation of working age population for Tamil Nadu by 2022 is 5,77,13,558. More details
How are the computer skills in the State?
Availability of high-quality human resource for all focus sectors - mechanical,
electrical
& electronics, computers and communication, civil, chemical, biotechnology
domains.
Tamil Nadu is home to some of the best educational institutes in India viz. I.
Indian
Institute of Technology II. Chennai, National Institute of Technology III. Trichy,
Anna
University, IV. VIT University, V. PSG College of Technology etc.
About 553 engineering and technology educational Institutions and 479 Polytechnic
Colleges
in the State.
Construction permits
Regulations regarding architecture and fire code.
The Architects Act, 1972 regulates education and practice of profession throughout
India as
well as maintains the register of architects. Click Here
Tamil Nadu Combined Development and Building Rules, 2019 regulates development and
construction in the entire state. This also includes rules and regulations with
regard
to
fire and safety. Click
Here
Construction site survey.
Tamil Nadu Combined Development and Building Rules, 2019 states various inspections
carried
out during construction. Click
Here
Dispute Resolution
Indian arbitration law? Are foreign law system's
verdict or
foreign countries' arbitration recognized in India?
Arbitration and Conciliation (Amendment) Act, 2015 provides strict timelines for
completion
of the arbitral proceedings along with the scope for resolving disputes by a fast
track
mechanism. Click Here
The 2015 Amendment Act provides for assistance from the Indian courts, even in
foreign
seated arbitrations, in the form of interim relief before the commencement of the
arbitration.
Export/Import regulations
Exports/ Imports regulations/ Customs duty.
The Indian Customs Electronic Gateway (ICEGATE) is the national portal of Indian
Customs of
Central Board of Indirect Taxes and Customs (CBIC) that provides e-filing services
to
the
Trade, Cargo Carriers and other Trading Partners electronically Click Here
Customs duty, is governed under the Customs Act, 1962, are evaluated on specific or
ad
valorem basis and the value of the product is defined by Rule 3(i) of Customs
valuation
(Determination of value of goods imported by someone) Rules, 2007 Click Here
Provision of calculation of customs duty is available at the icegate portal of the
central
Government, Custom Duty calculator Click Here
Exemption for Customs duty.
Exemption to goods when imported against an Advance Licence. Click Here
How convenient is it for foreign workforce in terms of
health
care and educational facilities?
About 1800 Single specialty hospitals across various districts in the State and
more
than
1000 multi-specialty hospitals. The renowned Apollo Hospitals headquarters are based
in
Chennai.
And on educational front, there are about 80+ International Baccalaureate
&
Cambridge curriculum schools.
Procedure and requirements for issuance of employment
visa.
To obtain an employment visa, the foreign individual should draw a gross salary in
excess
of Rs. 16.25 lakhs per annum. For details on duration of employment visa,
registration
requirements / extension of the visa check Click
Here
Tamil Nadu State Population
As per Census 2011 (census is conducted every 10 years), total population of Tamil
Nadu
is
7,21,38,958 with a decadal population growth of 15.60%.
Directorate General of Commercial Intelligence and Statistics provides all export/
import
data. Click Here
Regulation for Environmental Impact Assessment.
The Ministry of Environment, Forest and Climate Change lays down regulations for Category A project (expansion and modernization of existing projects).
For further details: