2014-15 is likely to be the year for massive changes to the regulatory framework within which Corporate India operates. Not only will we be operating under a new Companies Act 2013, but are likely to have the new Direct Tax Code (DTC), and possibly a unified Goods and Service Tax (GST).
The year 2014 saw e-commerce sector keep everyone on the toes — be it the e-marketplace operators, logistics / supply-chain companies, vendors selling online as well as customers. The sector also ensured an action-packed year in terms of fund-raising by players like Flipkart, Amazon.in, Snapdeal, Jabong, Myntra, Bigbasket and Urbanladder, among others.
As a New Year gift, the government on Monday cleared an ordinance to amend the land acquisition Act, which will ease the land acquisition norms for power, housing and defence projects and pave the way for commissioning of stalled projects worth throusands of crores of rupees.
In all, Indian companies have concluded 247 M&A deals worth $16.17 billion this year, according to data from Grant Thornton India Llp. That’s the highest since 2010, when 373 domestic deals worth $18.3 billion were reached.
The challenges imposed on India Inc by the Companies Act, on the CSR component is not the spend. Rather, it is on how it has to be spent, as stakeholders concerned would now, not just see it as a benevolence, but also from the perspective of accountability.
There was plenty of media buzz with global investors and entrepreneurs such as Mayoshi Son, Jack Ma, Jeff Bezos and Ratan Tata investing and betting big on the Indian online market.
CII Director General Chandrajit Banerjee said higher FDI in insurance “will help attract much-needed long term capital for the sector and would have multiplier effect on the state of economy, especially in meeting the huge infrastructure financing requirements.
This year, private equity (PE) funds pumped in $11 billion into Indian companies, 11 per cent more than last year, according to a report by Grant Thornton. While the overall merger & acquisition (M&A) volume in the country stands at $37 billion, the volume generated through qualified institutional placements and initial public offerings (IPOs) is $5 billion.
The bill is among the first major initiatives by the government to make changes in the country’s regulatory framework to improve its global ranking for ease of doing business, where India has been ranked very low at 142nd position in the latest World Bank report.
Real estate portal Housing.com has raised $90 million in a funding round led by Japan’s SoftBank, valuing the two-year-old company at about $250 million. New investors that participated in this round include Falcon Edge and Russian billionaire Yuri Milner’s DST Global.