What is the Impact of India’s Union Budget 2019 on Foreign Companies?
In July 2019, our India Managing Director, Rohit Kapur, hosted a webinar to discuss key announcements in India’s budget and their impact on foreign companies.
The webinar was well received, drawing in an international audience and covering a wide range of topics useful for foreign companies.
India’s Union Budget 2019
A number of initiatives and policy reforms were announced to make India an attractive investment destination for foreign investors. A road-map to make India a US$ 5 trillion economy, massive push to the infrastructure sector, reduction in corporate taxation and incentives for FII/FPIs were some of the key highlights of this year’s budget.
Rohit began his presentation by providing an overview of the Indian economy, highlighting factors responsible for India’s growth story. He also discussed under-performing sectors including manufacturing and agriculture, and shared the measures taken by the Indian government to revive these areas.
Liberal FDI Policies
India has one of the most liberal FDI policies in the world. One hundred per cent FDI is permitted in most sectors through automatic route.
During her maiden budget speech, Finance Minister, Nirmala Sitharaman, proposed easing FDI rules to stimulate growth and development in the Indian economy.
In relation to this, Rohit discussed key budget announcements on tax breaks, duty hikes, sectorial allocations, and FDI opportunities, among others, explaining their impact on foreign investors and companies with India interests.
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