INDIA REACHES FOR THE STARS

Successful landing of Chandrayaan-3: India takes a walk on the Moon!

Chandrayaan-3 ROVER rolled down from the lander and India has set foot on the Moon! India celebrates a monumental technological achievement and is now the fourth nation to successfully land on the Moon, joining the ranks of the USA and China. India's lunar mission Chandrayaan-3 successfully deployed its lander module after orbiting the Moon and brought its Pragyaan rover (alias Wisdom) to the lunar surface. Weighing 26 kilograms, this rover is the first to explore the Moon's south pole region. Since the lander module and the rover are unheated, they are expected to remain operational for one solar day on the Moon - equivalent to two weeks on Earth.

Timo Traurig, Managing Director of MeJuvante, warmly welcomes readers to this new column highlighting news for foreign investors in India.

A look at further notable milestones for India in August:

1. Forecasts for the Indian chemical market indicate a value of 304 billion US dollars by 2025. This would make India the sixth largest competitor worldwide and the third largest in Asia. The sector, which contributes 7% to GDP, enjoys the support of strong research and development facilities and favorable policy measures, including 100 percent allowance for foreign direct investment.

2. The Indian-Japanese partnership, spanning seven decades, is branching into innovative areas, particularly the semiconductor and financial sectors. Bilateral trade currently stands at a robust 21.95 billion US dollars, accompanied by Japan's substantial investments of 37 billion US dollars in India.

3. To strengthen its export ecosystem and attract more foreign investors, India has streamlined its export norms.

4. The handbook "Tax, Accounting, and Audit in India 2023-24" is now available and offers a comprehensive insight into the Indian tax landscape.

Timo invites readers to contact us with questions regarding investment and trade in India. Join us on this journey and touch the stars.