‘Stable policies, lower tax rates, IPR regime, VAT will boost FDI’
‘Stable policies, lower tax rates, IPR regime, VAT will boost FDI’
Industry body FICCI, today said stability in policies, removal of ground level obstacles, stricter enforcement of IPR and introduction of VAT by all states will ensure steady growth in Foreign Direct Investment (FDI) inflows in 2006 and beyond.
Opening up of Indian markets, reduction of tariff and non-tariff barriers, stable exchange rates and government incentives are the major imperatives that are to be considered for attracting large doses of FDI, FICCI said in a release.
With increasing purchasing power, rising middle class and a young population, FICCI said the country is perceived to emerge as one of the three fastest growing economies in the years ahead and achieve double-digit growth in near future.
Investors feel that the move over to the VAT regime is the biggest indirect tax reform that has been undertaken in the country and would have a positive impact regarding the future of FDI inflows.
More: hindu.com