27/11/2015 Asia Business Report

Now on BBC News all the latest business news live from Singapore.

tax reform since Independence. The push for a nationwide goods and

services tax is a key test for Narendra Modi. As the Black Friday

shopping spree starts and the US, we look at what it means to people

around the world. Welcome to this Friday's Asia

Business Report. Narendra Modi has appealed for a corporation from

opposition parties as he tries to introduce the biggest tax reform

since Independence. A nationwide goods and services tax is crucial to

his ambitions to overhaul the Indian economy. But pushing through changes

has become harder for the government since it lost control of the upper

house. Debate rages over how high it should be set. Earlier I asked why

it is so important. In India there are over a dozen

taxes between the goods being manufactured and it reaching the

consumers. There is a lot of room for corruption, there is procedural,

there is bureaucratic issues that the manufacturers have to go

through. It is an impediment to the economy. It gives you a completely

single economy that is beneficial to India. Analysts are saying that if

it does not pass, this would be a real blow to Narendra Modi's reform

agenda. What was the impact be if it does not pass? There are two types

of monetary system. Monetary policy and fiscal policy. The monetary

policy is really accommodative. It is well managed by the government.

The fiscal policy has to be implemented. The government will

struggle. FTI has been easing. Tremendous reforms have been made in

that area. It is not the right confidence that the investors want.

Do you think they will come to an agreement? My belief is they will

come to an agreement. Yesterday the winter session of Parliament opened

up. 30 out of 32 parties have agreed to support GST. They have narrowed

down their objections. This is the session it should be approved. And

how will it affect ordinary Indians? If you look at the taxes that

consumers end up paying, it is 20-25%. Consolidated into cheesy as

the new data from Japan shows consumer

prices have fallen as a result of energy prices.

Japan's economy slipped back into recession in the last quarter. On a

brighter note, the unemployment rate might fall in the near future. The

region's biggest budget airline has posted losses of close to $96

million in the three months until September. The results come just a

day after the airline group posted eight straight quarter losses.

Thousands of Indonesian workers are taking part in a strike calling for

the repeal of new regulation that they claim will limit pay increases.

The president says this will prevent mass layoffs and provide security

for investors. Police are cracking down on protests and arrested a

number of workers and leaders. We caught up with one of the protesters

outside a factory. TRANSLATION: Workers will be

pressured to accept the lowest wage. This political scheme is designed by

the government to keep wages low for the benefit of companies. It is only

days until the United Nations climate change conference begins.

India is the world's third-largest emitter of greenhouse gases. Some

start-ups are trying to tackle the issue of climate change. We have

been to meet some of these entrepreneurs. Starting up a company

to solve a big drop. This man and his team have made a

device that fits into a vehicle to measure its commissions. How you

drive a car can determine how polluting it is. Toxic gases

released can be cut by a third if you drive efficiently. This

displayed all to do just that. Red is bad, green is good. They can

change from a thermal plant to a nuclear plan. The single most

contributing tactic is the cars. Unless it can do something around

this, we will not be able to have enough of an impact. 13 of the 20

most polluted cities of the world are in India. A lot of that is down

to the tens of millions of vehicles on the roads committing harmful

gases. But poor at quality is not just another problem. In most rural

areas where 66% of Indians live, wood stoves are polluting and

hazardous. This factory is creating a stove that uses the same fuel,

just more efficiently, bringing down emissions by up to 70% and reducing

the amount of firewood needed. Consumers do not have access to

regular electricity. They have no cooking gas or access. This is the

most viable option for consumers. They do not have to change cooking

habits or a fuel collection habits. They do not have to spend extra. The

stove is just over $20. At a large part of the country's population

lives on less than $2 per day. For them it is simply too expensive.

While India is a big market for those making clean energy products,

it is also a tough one to sell to. Do not forget to watch India

business report this weekend. A special programme looking at India

and climate change. Today is so-called Black Friday in

the United States. The day after Thanksgiving. It is seen as the

beginning of the Christmas shopping season. It generates ruffed the $50

billion of revenue each year. That would sales falling, many retailers

are now opening earlier or offering big promotions.

You can thank the United States for Black Friday. A tradition starting

the holiday shopping season. 87 million people rushed for a chance

to save big, spending $9 billion. At each year it seems retailers are

bringing sales out earlier and earlier to edge out competitors.

British retailers decided to get in on the act. One major credit card

company reckons he will spend nearly $3 billion in the UK today. A third

more than last year. Some retailers are scaling back. As the is not

taking part. Black Friday has not caught on. The

Indians have the Flash sales at head of the Bali.

It has been taken to a new level by online retailers. They are all

growing fast and values in sales to try and bring in new consumers. In

Hong Kong, the big day for discount shopping has already passed. Phone

does not celebrate Black Friday, instead it has what it calls singles

day. Every year on the net relevant of November, online retailers offer

discounts of up to 70% off of regular prices. This year at the

online shopping giant Aly Baba rang up purchases of more than 14 billion

dollars. In Brazil, Black Friday is still a

new thing. Many shoppers do not trust it. Some believe the prices

are hiked. What seems like a big discount could be a regular price.

Some are worried they might not getting a real bargain.

Looking at the markets now, they are getting little direction today from

Wall Street. That was closed for Thanksgiving. That is it for this of

Asia Business Report. Russia's agreed to work more closely

with France to co-ordinate