Kia Motors has been accused by India of evading $155 million in taxes by wrongly classifying imported parts for their Carnival minivan like a case against Volkswagen last year. Kia imported parts separately describing through different ports in order to evade taxes on kits that are completely knocked down (CKD). However, Kia denies the claims saying that it has provided fully comprehensive evidence to back up its position. Kia has pled guilty and could be fined up to $310 million less interest. This story illustrates the tried and true problems that foreign automakers in India face, including sky-high taxes and prolonged legal wrangles. 

2. BlackRock Plans to Hire 1,200 People in India

More from Subheading: The world’s largest asset manager seeking to bolster AI capacity by recruiting more workers in India.

BlackRock, India, workforce expansion, asset management, artificial intelligence, hiring.

BlackRock wants to expand its two support hubs in India to hire around 1,200 people to improve their artificial intelligence (AI) capabilities. Mumbai and Gurugram are the location of the iHubs, which provide the support. This follows a recruitment drive which will boost the city based workforce to around 3,500 employees in these cities, especially by filling more engineers and data experts. In addition, its planned purchase of data provider Preqin will result in BlackRock also taking over a global capabilities center in Bengaluru, India's IT hub. BlackRock has not responded to these market speculation.