New IT law of the US will have serious ramification for India: FICCI

Under the law, only those manufacturers, who can provide proof of using genuine hardware and licensed software, would be allowed to export and sell, either directly or indirectly through third parties

New Delhi: Industry body FICCI raised concerns over a new competition law in the US which states that only those manufacturers who can provide proof of using genuine hardware and licensed software should be allowed to export to America, reports PTI.
In an effort to create level-playing field between competing manufacturers globally, some of the US states have passed a new competition law.

Under the law, only those manufacturers, who can provide proof of using genuine hardware and licensed software, would be allowed to export and sell, either directly or indirectly through third parties.

“The law could have serious implications for Indian exporters to US,” FICCI said in a statement.

While the first laws were passed in the states of Washington and Louisiana on 4 November 2011, attorney generals of 39 US states have signed a resolution to combat unfair trade practices in manufacturing by preventing usage of illegal or stolen IT (i.e. non-genuine and unlicensed software).

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Telecom sector attracted $12,400 million FDI in 11 years

“Actual FDI in the telecom sector from April 2000 to September 2011 is $12,456 in million,” an annual report of Department of Telecom said

New Delhi: The cumulative foreign direct investment (FDI) in Indian telecom sector over past 11 years crossed $12,400 million in September 2011 says an annual report of Department of Telecom (DoT).

According to a PTI report, the DoT report said, “Today, telecom is the third major sector attracting FDI inflows after services and computer software sector... Actual FDI in the telecom sector from April 2000 to September 2011 is $12,456 in million.”

The government allows 74% FDI in companies providing telecom services except for providing infrastructure, e-mail, voice mail service and manufacturing of telecom equipments, where 100% FDI is allowed.

By the end of financial year 2011, cumulative FDI in the country stood at $10,555 million, which is 18.3% more compared to $8,924 million in March 2010.

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Employees in India may get lower salary hike in 2012: Survey

As per the survey conducted by HR consulting firm Right Step Consulting, the salary hikes for India would decline to 11.54% in 2012 from 11.89% in 2011

New Delhi: Employees across corporate India are expected to get a lower average salary hike in 2012 compared to last year as companies are grappling with sluggish economic activities, says a survey.

As per the survey conducted by HR consulting firm Right Step Consulting, the salary hikes for India would decline to 11.54% in 2012 from 11.89% in 2011, reports PTI.

“After having grown at the rate of 8.4% over the last two years the Indian economy slowed down considerably in the year ended March 2012 and the lower than expected growth in economy at only 6.9% is reflecting in the Indian corporate sector's lower outlook for compensation hikes for its employees,” Right Step Consulting director Vishal Bhargava said.

The drop in salary hikes is expected across both services and manufacturing sectors. While manufacturing sector is expecting a salary hike of 11.58% as against 11.91% in 2011, the service space is expecting a salary increase of 11.49% compared to 11.87% last year.

“Drop in salary hikes in manufacturing sector was expected given that sector's estimated growth rate in 2011-12 at 3.9% is a drop of almost 50% as compared to 7.6% in the previous year,” Mr Bhargava said.

Among the sector, prominent core sectors such as power, steel, mining and construction are all expecting a lower salary hike.

“Besides, the drop in expected salary hikes in services is on account of sharp drop in telecom and drops in sectors like retail, IT software, BFSI and travel/hospitality,” he added.

The survey, conducted among 2,326 Indian companies across sectors, said decline in salary hikes are expected across both foreign MNCs and Indian companies.

“Drop in foreign MNCs is marginally higher from 12.17% in 2011 to 11.73% in 2012 a decline of 44 basis points as compared to Indian companies which are expecting a drop from 11.71% to 11.41% a drop of 30 basis points,” Mr Bhargava said.

Reflecting economic uncertainties and slow down in the home markets of foreign MNCs which is an additional concern for their India operations.

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