04 JUN,2019 | MEDC
Data released by the department for promotion of industry and internal trade showed that FDI equity inflows into India declined 1% to $ 44.4 billion in the year ending March 31, 2019. This signals a decline in long term FDI into the country. Due to the prevailing tax implications, Mauritius continues to remain India’s top source for FDI. The new government should work on the existing fiscal treaties to usher in an improved era in investment and taxation. Our foreign taxation norms also need tweaking under the proposed new direct tax code. That is key to boost the competitiveness of the economy and sustainably attract global investments. The new regime needs to attract foreign investment in India by enhancing the ease of doing business in the country.
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