Critical Minerals Summit concludes (See 'Corp Brief') Cr.P.C. - While adjudicating on bail application court is duty bound to ensure that accused's right to life and right to health is not violated : HC (See 'Legal Desk') PMLA - Petitioner cannot claim bail as matter of right for treatment only at specialized hospital of his choice : HC (See 'Legal Desk') SEBI (Research Analysts) Regulations, 2014 for ontravention of RA Regulations Certificate of Registration of Noticee Gaurav Sarda can be cancelled : SEBI (See 'Legal Desk') REC Ltd declares financial results, records highest ever annual net profit (See 'Corp Brief') Trade Marks Act - Defendant's adoption of Trademark is not in good faith and potential confusion encroaches upon Plaintiff's statutory trademark rights : HC (See 'Legal Desk') SEBI Act - Noticee was maintaining call records which were sent to SEBI : SEBI (See 'Legal Desk') Arbitration - Petition u/s 29A for extension of mandate of Arbitral Tribunal can be filed even after mandate has expired : HC (See 'Legal Desk') Mines Ministry to hold 2-day Critical Minerals Summit (See 'Corp Brief') IBC - When one party owes debt to another and creditor is claiming under written agreement providing for rendering 'service', debt is operational debt if claim of debt has some connection with service : SC (See 'Legal Desk') Companies Act - Stamp duty @5% market value of property is liable to be paid only when property is situated within State of Madhya Pradesh otherwise not : HC (See 'Legal Desk') SEBI Act - Final opportunity of inspection of documents and cross-examination of witnesses should be given to Appellants : SAT (See 'Legal Desk') SARFAESI Act - Mere discovery of new or important matter or evidence is not a sufficient ground for review ex debito justitiae : HC (See 'Legal Desk') Conference organized on Maritime Amrit Kaal Vision 2047 (See 'Corp Brief') PMLA -Bail application can be dismissed as petitioner failed to satisfy conditions for grant of bail : HC (See 'Legal Desk') CSIR, NIScPR organize national workshop to celebrate World Intellectual Property Day (See 'Corp Brief') SEBI Act - Appellants have failed to substantiate their claim of financial distress nor have they brought any new fact or circumstances requiring grant of interim relief : SAT (See 'Legal Desk') ACC delivers lifetime highest annualised PAT (See 'Corp Brief') Trade Mark Act - Marks are visually phonetically and deceptively similar to Plaintiffs' trademarks : HC (See 'Legal Desk') SJVN inaugurates First Multi-purpose Green Hydrogen Pilot Project (See 'Corp Brief') IBC - Even if CIRP commences, Directors, who are incharge of affairs of Company cannot be absolved of any wilful default committed by borrower Company : HC (See 'Legal Desk') REC to extend loan of Rs 1869 Cr for Kiru Hydro Electric Project (See 'Corp Brief')

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Goyal on tour to Sweden - 70 Indian Cos operating there

Published: Oct 21, 2019

By TIOLCORPLAWS News Service

NEW DELHI, OCT 21, 2019: COMMERCE and Industry Minister, Mr Piyush Goyal, will attend the 19 th Session of the Indo-Swedish Joint Commission for Economic, Industrial and Scientific Cooperation in Stockholm, Sweden on October 23, 2019. The session will be co-chaired by Ms. Anna Hallberg, Minister of Foreign Trade, Government of the Kingdom of Sweden and Piyush Goyal, Commerce and Industry Minister, Government of India.

Sweden has a long history of investments in India. As per October 2017 data, there are over 170 Swedish joint ventures and wholly owned subsidiaries in India. Sweden is the 20th largest foreign investor in India with cumulative investment of USD 8.51 billion between January 2003 and January 2017. The existing Swedish MNCs are now expanding not only in manufacturing but also increasingly on offshore IT operations and R&D in India. Sectors that have received the largest shares of Swedish investments in India are automobile industry with USD 362.20 million (33%), industrial machinery with USD162.09 million (15%) andmiscellaneous mechanical & engineering industries with USD115.67 million (10%).

Over the last decade, Indian investment in Sweden has also increased. There are over 70 Indian companies including IT companies currently present in Sweden. Indian pharma and biotech companies like Dr.Reddys, Biocon, Kemwell and Cadila Pharma have formed collaborative relations in Sweden.

There is significant potential for enhancing bilateral collaboration in key areas like green technologies, renewable energy, smart infrastructure, healthcare and defence. Trade in services is large and growing, especially in areas of IT, business services, travel and transportation. According to the International Trade Centre figures, in 2016, the total bilateral trade in service was worth USD 1.23 billion, which included Indian service exports of USD 767 million to Sweden and Swedish service exports of USD 458 million to India.

According to available statistics, the main items of Indian exports to Sweden were articles of apparel, clothing accessories, textiles yarn, fabrics, manufactures of metals, road vehicles, general industrial machinery and equipment. The main items of Indian imports from Sweden were pulp and waste paper, road vehicles, paper board, general industrial machinery and equipment, iron and steel and power generating machinery & equipment.

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