FM assures global investors on policy stability, tax reforms
The Dollar Business Bureau Finance Minister’s 10-day US trip has opened its way for the long term investment in India. The buzz is that the investors in US are planning for long term investment, though there are concerns of Policy stability and reform process. A delegation of industry body CII (Confederation of Indian Industry) is also joining the Finance Minister. The delegation is led by its president- designate Naushad Forbes. Finance Minister has assured the global investors that the efforts are being made to reduce the concerns on the expediting tax reform process, tax regime and policy stability by the Indian Prime Minister Narendra Modi. Meanwhile, CII is organizing a number of events and meetings with investors, large US corporations, pension funds and institutional investors to explore the opportunities of increasing long-term investments from US to India during the tenure of the visit. CII, in a statement said, "There is scope for far greater funding commitment from US companies as the quantum of American investment at USD 13 billion from April 2000 onwards does not match the size of our respective economies. In fact, Indian investments in the US surpass this figure". The CII contingent includes Noel N Tata, Managing Director of Tata International; Rishad Premji, Chief Strategy Officer of Wipro and Ravi Parthasarathy, Chairman of IL&FS. CII has identified infrastructure, defence, smart cities, manufacturing as the areas with prodigious prospective to strengthen bilateral ties. "Defence industrial parks could be a good area of investment for this purpose," said CII. Also adding to that it also said that US enterprises could enter into agreements with states and municipalities in India for specific project development.
June 18, 2015 | 9:05 pm IST.