Arab Today, arab today india remains attractive for investors
Last Updated : GMT 08:17:24
Arab Today, arab today
Arab Today, arab today

Government calms tax fears

India remains attractive for investors

Arab Today, arab today

Arab Today, arab today India remains attractive for investors

India's Finance Minister Pranab Mukherjee
New Delhi - Arabstoday

India\'s Finance Minister Pranab Mukherjee India\'s Finance Minister Pranab Mukherjee has defended the South Asian country as an attractive place to invest, despite controversial plans to make foreign companies retroactively liable for taxes.
Mukherjee sought to calm the row over proposed legislation to chase overseas firms for taxes on mergers involving Indian assets, saying investment decisions are not made solely on the basis of \"tax concessions\".
Deciding whether to put money into an economy is \"based on what\'s the size of the market, whether the systems are transparent and what\'s the purchasing power of people\", Mukherjee was quoted on Saturday by the Indian media as saying.
India, with its increasingly affluent population of 1.2 billion people, remains an attractive country in which to invest, he told an audience on the sidelines of meetings of the World Bank and the International Monetary Fund in Washington on Friday.
\"From all these standpoints, India appears to be a good investment destination,\" he said.
India\'s cash-strapped government had been widely expected to plug merger tax loopholes in its budget last month.
But the retrospective nature of the legislation has stirred an international outcry at a time when India urgently needs big-ticket foreign investments to upgrade its dilapidated infrastructure and spur slowing economic growth.
Vodafone -- India\'s biggest foreign investor -- faces a $2.2 billion tax bill over its 2007 purchase of the Indian unit of Hong Kong-based Hutchison Whampoa.
It has threatened to take India to international arbitration.
The changes would allow India to tax the sale of Indian assets, even if both seller and buyer are foreign and the deal is concluded abroad, and has left firms facing prospects of massive bills they had not anticipated.
Mukherjee said no tax case over six years old would be reopened under the legislation expected to be passed in coming weeks and promised \"transparent\" discussions with companies that object to the measure.
US Treasury Secretary Timothy Geithner told his Indian counterpart this week US businesses are worried about changes in India\'s tax rules and that they had \"dampened enthusiasm about India\'s investment climate\".
Mukherjee also insisted India has \"an unwavering commitment to reforms\" after media reports quoted a top government advisor as saying there would be no liberalisation measures before the 2014 elections due to political disarray.
Reforms have been stalled by a string of corruption scandals and a slowing economy that have weakened the Congress-led government.
But Mukherjee said the government hopes to pass changes widening foreign investment possibilities in the banking, pension and insurance fields by the next parliamentary session at the latest.

arabstoday
arabstoday

GMT 18:43 2017 Saturday ,23 September

Discusses ways to apply pre-screening

GMT 06:26 2017 Thursday ,21 September

Qatar hits 5-year low as diplomatic rift hit

GMT 14:39 2017 Tuesday ,19 September

Catherine proud for contract with Morocco

GMT 20:39 2017 Wednesday ,13 September

Al Shamri calls for supporting the Islamic

GMT 03:58 2017 Wednesday ,13 September

Saudi is ready to expand production cuts

GMT 09:43 2017 Sunday ,10 September

Workplace safety key concern

GMT 18:47 2017 Sunday ,03 September

Diplomat underlines importance of visit

GMT 17:39 2017 Saturday ,02 September

Minister underlines support for OPEC cut deal
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today india remains attractive for investors Arab Today, arab today india remains attractive for investors

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today india remains attractive for investors Arab Today, arab today india remains attractive for investors

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today unveils Joon - the 'millenials' airline

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Iran tests new medium-range missile

GMT 21:24 2017 Saturday ,23 September

Iran tests new medium-range missile
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 08:39 2017 Friday ,22 September

New Hurdles as Republicans Rush

GMT 06:49 2017 Friday ,22 September

O'Leary: Could ground more planes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday