Modi’s tax reforms are ambitious and efficient, Turnbull
The Dollar Business Bureau
Australian Prime Minister Malcolm Turnbull in his maiden visit to India has struck bonhomie with the country, especially with Indian PM Narendra Modi in ways not many of his predecessors or diplomats would have been able to do. The diplomat on his 3 day visit not only visited the political capital, but also made a halt at the financial capital- Mumbai, before heading home.
During his visit Turnbull referred to Indian Prime Minister Narendra Modi’s tax reforms as ambitious and efficient. He additionally averred that Modi-regime’s tax efficiency has deregulated the economy and created effective duty structures.
The visiting PM boarded a metro with NaMo to visit the Akshardham Temple and on the third day of his tour, was at a TCS campus (Tata Consultancy Services) in Andheri. He appreciated India’s growth in the technology-domain and the growing penetration of smartphone users in the country, while suggesting TCS to consider launching innovation labs in Australia.
Technology, according to him, was an important development in human history, and it helped transform global economies in general. Smartphones, an extension of technology, helped connect people with markets, and thereby enabled better human interactions.
A section of Australian media referred to the bonhomie as one in line with former Australian PM Tony Abbott’s. The overall agenda was to find newer ways to work with India, and devise strategic means to re-start conversations on trade agreements. Various news-reports have indicated that Former Department of Foreign Affairs and Trade Peter Varghese could be officially leading diplomatic conversations to improve Indo-Australian trade numbers. Experts too indicated that the official trade of $19 billion could be a marginal number when focused at the synergies between the two countries.