NRIs can open one-person companies in India

News Network
February 1, 2021

New Delhi, Feb 1: Indian Finance Minister Nirmala Sitharaman brought cheer to Indian entrepreneurs with a bold move to permit one-person companies.

In a major boost for Indian expats (NRI) investments in India, there is no restriction on paid up capital and turnover to incentivise incorporation of one-person companies in their home country.

Bal Krishen, chairman of Century Financial, said: “The move, which allows NRIs to incorporate one-person companies in India, will also reduce residency limit from current stipulation of 182 days to 120.”

The move is especially likely to benefit the Indian real estate sector, which typically attracts lots of investment and interest from expats residing in the Gulf.

"For FY 2021, total investments by India expat population in real estate sector is expected to exceed $13.1 billion, a five per cent year-on-year growth.

"Recent price correction in certain pockets of India real estate clusters coupled with the new budget moves would likely act as huge trigger for fresh impetus to this sector. Furthermore, more and more expat investors are likely to use this opportunity for investing even in smaller amounts at the start," said Krishen.

Dhaval Jasani, Founder and CEO at ZTI, said the move will invite more talent back to India.

"One-person companies will enable entrepreneurs to establish and market their own developments rather than partnering with bigger companies.”

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News Network
December 17,2024

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Prime Minister Narendra Modi Tuesday condoled the death of environmentalist Tulsi Gowda and said she will remain a guiding light for environmental conservation.

In a post on X, he said, "Deeply saddened by the passing of Tulsi Gowda Ji, a revered environmentalist from Karnataka and Padma Awardee. She dedicated her life to nurturing nature, planting thousands of saplings, and conserving our environment."

"She will remain a guiding light for environmental conservation. Her work will continue to inspire generations to protect our planet. Condolences to her family and admirers. Om Shanti," he added.

Tulsi Gowda, the renowned environmentalist and Padma Shri awardee known as the "Vruksha Maate" (Mother of Trees), passed away on Monday at her residence in Karnataka’s Honnali village, Ankola Taluk, Uttara Kannada district. She was 86 and had been suffering from age-related ailments.

Hailing from the Halakki tribal community, Tulsi Gowda dedicated over six decades of her life to environmental conservation, planting and nurturing thousands of trees in Ankola and its surroundings.

Her unparalleled knowledge of plants earned her the title "Encyclopaedia of Plants." She was credited with growing lakhs of saplings and was celebrated for her unique approach to nurturing them, ensuring their survival and growth.

Born in 1944 to a tribal family, Tulsi Gowda developed a deep connection with nature at a young age. She began working at a forest department nursery as a daily wage worker and eventually became a symbol of afforestation.

In 2021, Tulsi Gowda was honored with the prestigious Padma Shri, one of India’s highest civilian awards, in recognition of her immense contributions to afforestation and environmental conservation.

She received the award from former President Ram Nath Kovind, a moment that brought her years of silent work into the national spotlight. Additionally, Dharwad Agricultural University conferred upon her an honorary doctorate for her knowledge and contributions to the environment. She also received the Indira Priyadarshini Vriksha Mitra award and numerous other accolades throughout her lifetime.

 

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News Network
December 17,2024

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US and British warplanes have carried out fresh airstrikes on the Yemeni capital Sana'a and other regions, intensifying attacks as Yemeni Armed Forces continue their anti-Israeli operations in support of the Palestinians in the Gaza Strip amid the regime’s genocide.

Yemen’s al-Masirah television network reported that US and British aircraft targeted the premises of the Yemeni Defense Ministry in the the Assafi'yah district of Sana’a early on Tuesday.

Local sources heard loud explosions echoing from the site of the strikes. 

The report, however, did not provide any details regarding potential casualties or damage.

For his part, the Yemeni information minister vehemently denounced the latest US and British airstrikes against Sana’a, stating that the act of aggression “falls within the framework of attempts to diminish the Yemeni nation’s will to support Palestinian people.”

Hashem Sharaf al-Din underscored that enemies are unable to undermine Yemen’s military capabilities, as its government and nation are standing firm in the face of their vicious and terrorist attacks.

This came hours after the spokesman for the Yemeni Armed Forces announced in a statement that the country’s missile units had carried out a military operation against an Israeli military target in Tel Aviv, using a hypersonic Palestine 2 ballistic missile

Brigadier General Yahya Saree noted that the missile strike was in support of the Palestinians in the Gaza Strip, and successfully achieved its desired objectives.

The Yemeni Armed Forces will continue their operations, and will strike all Israeli facilities within the occupied territories, Saree pointed out, adding that such strikes will not stop unless the ongoing aggression on Gaza ends and the siege is completely lifted.

Early on Monday, American and British warplanes conducted a joint airstrike on targets at the Midi district in Yemen’s northern province of Hajjah.

US and British military aircraft also targeted a number of locations in the At Tuhayta district of the strategic western province of Hudaydah. Details on potential human or material losses from the strikes were not quickly disclosed.

Yemenis have declared their open support for Palestine’s struggle against the Israeli occupation since the regime launched a devastating war on Gaza on October 7, 2023, after the territory’s resistance movements carried out Operation Al-Aqsa Flood against the occupying entity.

The Yemeni armed forces have said they will not stop their attacks as long as Israel continues its ground and aerial offensives in Gaza.

So far, Israel has killed at least 45,028 Palestinians, mostly women and children, and injured 106,962 others in Gaza.

In October, the US military unleashed B-2 stealth bombers to bomb Yemen in support of Israel. Since then, attacks against Yemen have continued in a bid to halt the retaliatory attacks by Sana'a. 

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News Network
December 23,2024

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The Israeli military has completely destroyed 70 percent of buildings in the Jabalia refugee camp as the occupying regime continues with its deadly aggression against northern Gaza. 

Amos Harel, a military affairs analyst, wrote in the Israeli daily Haaretz on Sunday that the Jabalia refugee camp has become a “ghost town” amid Israel’s deadly offensive in the area.

“As far as the eye can see lie miles and miles of destroyed homes. It's hard to look away from the devastated remains of Jabalia's refugee camp in northern Gaza,” Harel said.

“I could see that even the few buildings that are still standing were badly damaged,” he added.

Harel went on to say that the Israeli military has operated in the area twice before, but this time the camp was torn down.

“Jabalia has become a ghost town. Outside, you mainly see pack after pack of stray dogs roaming around and hunting for scraps of food,” he said.

The Israeli regime dispatched tanks again to northern Gaza last month in what it said was aimed at combating members of the Palestinian resistance movement launching retaliatory strikes, and preventing them from regrouping.

The towns of Beit Lahiya, Beit Hanoun and Jabalia have been besieged for more than 40 days, without food, water, medicine, or aid, and under constant bombing, shelling, and drone attacks.

Israel launched the war on Gaza on October 7, 2023, after Hamas-led resistance groups waged the surprise Operation al-Aqsa Flood against the occupying entity in response to its decades-long campaign of devastation against Palestinians.

The regime’s bloody onslaught on Gaza has so far killed 45,227 Palestinians, mostly women and children, and injured 107,573 others. Thousands more are also missing and presumed dead under rubble.

The Tel Aviv regime has also imposed a “complete siege” on the territory, cutting off fuel, electricity, food and water to the more than two million Palestinians living there.

Separately on Sunday, the Ezzedine al-Qassam Brigades, the armed wing of Hamas, said its fighters hit a group of nine Israeli soldiers who had taken refuge inside a house in the west of the Jabalia refugee camp.

It made the remarks in a statement on Telegram, noting that several Israeli forces were killed and wounded in the attack which was carried out with a TBG (thermobaric) rocket.

Qassam Brigades further noted that its fighters had killed an Israeli soldier from a long distance in the central area of the Jabalia camp.

Qassam Brigades has been daily carrying out military operations against the Israeli occupation forces since October 7 last year.

On Thursday, Qassam Brigades said its fighters stabbed at close range an Israeli officer and three soldiers at the Jabalia refugee camp, resulting in their deaths.

The retaliatory operation came following another attack on Wednesday, when Hamas fighters killed five Israeli soldiers in central Jabalia, also at close range.

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