Reply: The four private banks that have foreign investment greater than 49% (as at the quarter ending 30 June 2011) are:
Name of the bank
Foreign investment (%)
ING Vysya Bank Ltd.
61.30
ICICI Bank Ltd.
53.33
IndusInd Bank Ltd.
65.78
YES Bank Ltd.
53.68
Japan FQ 5:
Question 48 (Page 163-164, Paragraph 140)
Regarding the answer to Q48 (2), please describe more on "qualifying ships" based on the following example answer.
Q1 Flagging requirement
[Example Answer]
Tonnage Tax is applied not only on Indian-Flagged vessels, but also on foreign-flagged vessels
Reply: A qualifying ship has been defined in Chapter XII-G of the Income Tax Act 1961, details of which can be seen from the following website www.incometaxindia.gov.in.
Q2 What is the proportion of the number of vessels owned by companies that have the Tonnage Tax Scheme-applied compared with the number vessels time-chartered to number of vessels bareboat-chartered?
[Example Answer]
Vessels owned by companies to which the Tonnage Tax Scheme-applied 1: Vessels that are time-chartered/bareboat-chartered 3
Reply: Tonnage tax is applied not only to Indian flag vessels but also to foreign flag vessels chartered by tonnage tax company. During the financial year 2010-11 the number of owned vessels operated by tonnage tax companies was 460 and the number of foreign flag vessels chartered (both voyage and time chartered basis) by tonnage tax companies was 20 (Note: the number of vessels figure is worked out on the basis of total number of days vessel operated/365).
REPORT BY INDIA
Japan FQ 6:
Question 55 (Page 19, Paragraph 57)
Japan would like to know the specific schedule foreseen in order to make a Policy Decision on Foreign Direct Investment in Multi-Brand Retail Trading after receiving public comments.
Reply: The feedback received from stakeholders is presently under the consideration of Government. It is not feasible to specify any specific time-frame in this regard.
