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Simplification of procedure to set up a Section 8 Company (Not for profit Organisation)

Purva Marwaha - 27-juin-2019 13:53:13
Simplification of procedure to set up a Section 8 Company (Not for profit Organisation) The Ministry of Corporate Affairs (the  MCA ) vide its notification dated 7 June 2019 has amended the Companies Incorporation Rules, 2014 to simplify and fast track the incorporation procedure. This shall be effective from 15 August 2019. From now onwards, any person desirous of incorporating a company under section 8 i.e., Not for Profit Organisation, under the Companies Act, 2013 can make an application in e-Form INC-32. No separate application for license is required to be made. Prior to this amendment, the applicant was required to make an application in Form INC 12 to obtain license and thereafter application for Incorporation was required to be made. Post scrutiny of the documents, the Certificate of Incorporation for Section 8 companies will now be issued by Registrar of Companies in Form INC-11 which earlier was issued as a licence under Form -16 or Form-17 as the case may be. Source:  http://www.mca.gov.in/Ministry/pdf/Rules_07062019.pdf

France, the new European place for Finance

Purva Marwaha - 27-juin-2019 13:18:39
France, the new European place for Finance   DID YOU KNOW? 4 reasons why France is becoming the new European place for Finance   1. A LEADING ECONOMY #5 world’s economy #2 European market: €2,210 bn (2017) up 2% GDP growth in 2018 Euronext: Eurozone Equity #1 stock market in capitalization   2. A LEADING FINANCE INDUSTRY     IN THE EUROPEAN UNION #1 for asset management #1 for private equity and venture capital #1 for insurance and banking solutions 6 French schools in the Financial Times ’s global Top 12 for best Masters in Finance   3. MAJOR OPPORTUNITIES #1 concentration of global Top 500 corporate HQs in Europe #2 household savings rate in Europe #1 R&D environment in Europe Pro-business government and local authorities   4. AT THE HEART OF THE EUROZONE A direct access to 500 million European consumers Relocation of the European Banking Authority in Paris An access to Europe, through the financial EU passport, and a gateway to the world, through bilateral agreements     A PRO-TECH GOVERNMENT “France is witnessing reform at a rate never seen before” Financial Times - May 17, 2018   1. LABOR MARKET New Labor Law: November 28, 2017 Greater flexibility : more flexible rules governing dismissals; company-level bargaining Reduced costs : financial cap in courts on damages for unfair dismissals   2. TAX CUTS 30% flat tax on capital Reduction of corporate tax from 33.3% to 25% by 2022 Abolished: wealth tax + exit tax   3.   NEW REGULATION Pro-immigration: fast-track “Tech Visa” for foreign entrepreneurs & employees Fostering AI : opening of State-owned data, e.g. in healthcare & transportation Crypto / ICO: new pro-innovation regulation   4. INVESTING IN THE FUTURE: INVESTING IN CAPITAL Launch of the Next 40 index €10 billion public fund for innovation and industry €50 billion investment plan for the digital transformation     FRANCE IS THE IDEAL SPRINGBOARD FOR GLOBAL FINANCE An easy access to the European financial market through the EU Passport and MoUs signed by French NCAs with non-EU regulation authorities   CHOOSE FRANCE 

Smart Manufacturing – India rises to the challenges of the industrial revolution

Nidhi Somani - 29-avr.-2019 09:11:29
Factory of the future, Smart Factory, Industry 4.0, cyber-factory or connected factory: Regardless of what it is called, this transformation of industry represents a revolution in manufacturing processes based on new technologies and innovative concepts. Why is it called Industry 4.0? It is being called Industry 4.0 to represent the fourth revolution that has occurred in manufacturing. From the first industrial revolution (mechanization through water and steam power) to the mass production and assembly lines using electricity in the second, the fourth industrial revolution will take what was started in the third with the adoption of computers and automation and enhance it with smart and autonomous systems fueled by data and machine learning. What is Industry 4.0 for India ? According to IBEF, the Government of India has set an ambitious target of increasing the contribution of manufacturing output to 25 percent of Gross Domestic Product (GDP) by 2025, from 16 percent currently. IoT, being one of the most important aspects of Industry 4.0 for India, is expected to capture close to 20 percent share in global IoT market in the next five years. Furthermore, the IoT market in India is projected to grow at a CAGR of more than 28 percent during 2015-2020. Major Indian states are taking initiatives to adapt to Industry 4.0. Andhra Pradesh has taken an initiative to capitalise on the IoT potential in the country. The state government has approved the first-of-its-kind IoT policy with an aim to turn the state into an IoT hub by 2020 and tap close to 10 per cent market share in the country. India’s first smart factory, moving from automation to autonomy, where machines speak with each other, is being set up in Bengaluru. It is making progress at the Indian Institute of Science’s (IISc) Centre for Product Design and Manufacturing (CPDM) with an investment from The Boeing Company. Various Indian companies are increasing their focus and partnering with other companies for developing new IoT and M2M solutions, the Digital India initiative from the Government of India is expected to enhance the focus on IoT in tackling the domestic challenges. In line with India’s focus on automation in manufacturing, Business India is organising a seminar & roadshow called In2France Smart Factory 2019 in December 2019 . This event will focus on 5 industries : Automotive, Steel, Textile, Pharmaceutical & E-commerce. If you wish to collaborate with us for this event, please write to nidhi.somani@businessfrance.fr

Frehindi - an educational & cultural exchange bridge between India & France

Audrey Lucbernet - 29-avr.-2019 09:01:06
 Le Frehindi is an Indian SME which has set up an office in France last year. The name ‘Frehindi’, as it suggests, is derived from the languages ‘French’ and ‘Hindi’. The company is working for the benefit of students, aiming to help them become global citizens by providing them opportunities through languages, cultural exchange programs, competitions and access to international education opportunities, perfectly in line with the wish of the French President, Mr. Macron who would like to double the number of Indian students to France by 2020.   In India, “Le Frehindi” is in direct contact with twenty thousand (20,000) students who learn French language, and who participate in various competitions, events and exchange programs organized between India and France by Le Frehindi. Since its inception in France, the company has entered into partnership with various French Schools and Universities and hence bringing groups of French students to India to explore the Indian culture and heritage and vice-versa to introduce Indian students to French culture. After setting-up in Paris, Le Frehindi has opened successfully a new office, in Lyon (Auvergne-Rhône-Alpes), in 2018. Check the video of Mr. Haru Mehra, Founder of  Le Frehindi talking about his success story in France https://youtu.be/pA6WTFhbAwI   

Indian IT companies are signing Billions USD deals with international clients

Jean-François Ambrosio - 26-mars-2019 11:46:33
HCL Tech, one of India major IT services provider, just announced the signature of a 1,3 Billion USD contract with Xerox to manage part of its shared services, including global administrative and support functions. The contract will run for a period of 7 years. HCL has been one of Xerox major partner and supplier since 2009. According to the Economic Times, other Indian IT services compan ies like Infosys, Wipro and TCS have secured several Billion USD contracts over the last 2 years with International clients . TCS, India largest IT company, has reportedly signed during this period of time 4 contracts for a total of 5,5 Billion USD, while Infosys won deals worth 2 Billion USD in the second quarter of 2018-2019, and Wipro announced a few months ago a 1,5 Billion USD contract for 10 years with the US based Alight Solutions.

Motherson is now the 1st Indian employer in France

Audrey Lucbernet - 15-mars-2019 10:56:15
Auto component maker Motherson Sumi Systems has acquired an additional French company, last year, the manufacturer Reydel Automotive Group (Reydel) for USD 201 million (over Rs 1,300 crore). Motherson Sumi Systems (MSSL), flagship company of the Samvardhana Motherson Group (SMG), said this acquisition through its step-down subsidiary Samvardhana Motherson Automotive Systems Group BV (SMRP BV) will bolster its  offerings in the automotive interiors space.   Reydel’s interiors product portfolio includes instrument panels, door panels, console modules, decorative parts and cockpit modules. The company’s global presence spans 20 plants and 16 countries and is supported by a workforce of around 5,500 associates.   Samvardhana Motherson Group is now the largest Indian employer in France with 2,300 employees.     Check the video of Mr. Sehgal, Chairman of Samvardhana Motherson Group talking about his success story in France.      https://youtu.be/-KDNBOCZKIE              

Ashok Leyland adopts Dassault Systèmes GVPP Platform for improved manufactoring

Aurelien Sostaponti - 18-févr.-2019 08:00:44
    Ashok Leyland adopts Dassault Systemes’ GVPP platform for improved manufacturing   Taking Indian automotive manufacturing to next level, Ashok Leyland has adapted the 3D Experience industry solution platform of the French company Dassault Systemes. Global Validation Proven Performance (GVPP) as a solution on the 3D Experience platform,  will reduce Ashok Leyland’s product development cycle from three years to 18 months and bring down the cost by 5%.
About
Sophie Clavelier, Country Head   Welcome to the French Trade Commission Business France in India!     Our key mission is to promote trade relations between France and India. We assist French- based companies seeking potential partners and new markets in India, while helping Indian businesses to identify potential French suppliers, commercial and technical partners.   In India, our 4 offices are located in business hubs, New Delhi, Mumbai, Bengaluru and Chennai. We have a dedicated multicultural team of 38 experts in the following growing sectors: Agrofood Industry Industry and Cleantech Lifestyle and Healthcare Tech & Services Our Trade Commission also has a Press office in charge of helping French companies to communicate in India as well as a Market Access Department enabling them to better understand and adjust to the Indian regulatory and fiscal framework. In

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