Despite challenges, India will remain a bright spot in the world for foreign companies: Piyush Goyal – Dainik Savera Times
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New Delhi: Commerce and Industry Minister Piyush Goyal says that global economic uncertainties have affected foreign direct investment (FDI), but despite these challenges, India will remain a bright spot in the world for foreign companies. After the Budget, Goyal said that while signing free trade agreements (FTAs) or bilateral investment treaties (BITs), the government always ensures that all the terms are best for India.
Finance Minister Nirmala Sitharaman had said in her interim budget speech on Thursday that India is negotiating BITs with various countries with the approach of “develop India first”. He had said that geopolitically, global affairs are becoming more complex and challenging with wars and conflicts. Goyal said, ‘Global uncertainty has definitely impacted FDI, especially considering that the US and other developed countries have seen a large increase in interest rates.’
The minister said, “India’s aspirational population and other supporters are giving us confidence that despite all adversities, India will continue to grow, India will remain a bright spot in the world.” Impact of proposal to increase tax incentives for startups But when asked, Goyal said that its objective is to encourage the startup environment of the country. On the Finance Minister’s decision not to make changes in taxes or import duties, Goyal said, “It is appropriate that he has refrained himself from the temptation of giving concessions or making any changes in the rates.”
Finance Minister Nirmala Sitharaman on Thursday presented the interim budget for the financial year 2024-25. The government that comes to power after the general elections in the country can present the full budget in July.
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