High contribution to global growth draws India to the centre stage: Nirmala Sitharaman
In a recent interview, India's Finance Minister Nirmala Sitharaman highlighted significant reforms aimed at enhancing the ease of doing business and attracting foreign investment. The budget introduces simplified transfer pricing arrangements and customs laws, providing long-term certainty in taxation. With the reduction of US tariffs, Indian exporters are poised to benefit, potentially influencing the rupee's value and encouraging fund flows into the country. Sitharaman emphasized India's growing role in global GDP growth alongside China, suggesting that these developments signal a positive shift in investment dynamics. Additionally, the government aims to support medium enterprises to foster growth and boost exports, particularly through initiatives like the Production-Linked Incentive (PLI) scheme.
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