CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. India To Ease Tax Burden In Key Industrial Sectors

India To Ease Tax Burden In Key Industrial Sectors

by Lorys Charalambous, Tax-News.com, Cyprus

29 December 2004


Indian Finance Minister P. Chidambaram has pledged a number of tax reforms in an attempt to stimulate investment and help achieve long term economic growth rates of more than 7%.

Addressing the 77th annual general meeting of the Federation of Indian Chambers of Commerce and Industry (FICCI), Chidambara promised to overhaul taxation in four key industrial sectors.

"The textile, petroleum, sugar and telecom sectors have a complex and convoluted tax structure. I acknowledge it is an unfinished exercise and I have to unravel them," Chidambaram announced.

The Finance Minister added that the new tax reforms would be directed towards encouraging investment from domestic, rather than foreign, sources.

“We need to embark on the path of sustained high growth of over 7% over the next 10 to 15 years through an investment-led growth strategy,” Chidambaram declared.

"India's growth depends vitally on investment. Only investment-led growth can be sustained over a long period,” he warned.


To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »