NEW DELHI, September 20 – BUSINESS STANDARD – The Department of Industrial Policy & Promotion (DIPP) has decided to make a more relaxed working norms for the retail companies which are having joint ventures with the foreign brands. As per the earlier guidelines cash-and-carry companies could sell only up to 25 per cent of their turnover to group companies, but now for example, Bharti Enterprises, which has a 50-50 joint venture with Walmart, controls 100 per cent in Bharti Retail. – BUSINESS STANDARD – In a move to strengthen the trade and economic ties between India and US, Indian Finance Minister Pranab Mukherjee would go for visit to US to discuss the matters. For instance, India would be demanding US to reverse the steep hike in visa fee for professionals and similarly, US would like to raise the issue of hiking the foreign direct investment cap from 26 per cent to 49 per cent in India. He will address the US-India Business Council-FICCI round table meeting in New York. The meeting will be attended by Terry Mcgraw, Chairman, USIBC; Harsh Mariwala, President, FICCI, and 20 CEOs of US companies and 20 from India. – BUSINESS STANDARD – Fortis Healthcare has decided to acquire its Singapore-based entity, Fortis Healthcare International Pte Ltd, to merge its domestic and global hospital operations into a $1 billion healthcare company, which would be Asia’s largest, with active presence in 10 countries. Fortis International has made seven acquisitions in the last nine months to build a healthcare chain across verticals in Hong Kong, Australia, New Zealand, Singapore, Vietnam, UAE and Sri Lanka. – BUSINESS STANDARD – Mahindra Satyam has decided to make its entry into Chinese market with much more great and easy access that is why it is exploring a strategic alliance or a joint venture with a Chinese partner to expand its presence in the world’s second largest economy. In Indonesia and Philippines, Mahindra Satyam is exploring opportunities through Tech Mahindra, which is well entrenched in the telecommunications space. – ECONOMIC TIMES – As of now India is the fourth-largest economy behind the US, China and Japan but might very soon would overtake Japan in terms of gross domestic product (GDP). This is due to the calamities happened in Japan because of which their economy has contracted while Indian economy is expected to rise 7% to 8% this year. THE HINDU - The Free Trade Agreement talks that resumed last week in Brussels have failed to move in the right direction with both the sides bringing up contentious issues. Now, it seems to get finalised only after the India-EU summit which is schedule to happen in New Delhi on October 24.