Experts Say Tax Reforms Crucial for Boosting Foreign Investment in India
Singapore: As India advances towards becoming one of the world’s largest economies, tax reforms that enhance predictability and simplify compliance will be crucial in attracting global capital and promoting entrepreneurship, a senior financial industry expert said on Tuesday.
Sanjay Gattani, Chairperson of the Singapore Chapter of the Institute of Chartered Accountants of India (ICAI), said sustained reforms in India’s tax regime would strengthen investor confidence and support long-term economic growth. “As India continues its journey towards becoming one of the world’s largest economies, tax reforms that improve liability and reduce complexity and this will play a pivotal role in fascinating global capital and adopting entrepreneurship. A deep understanding of the growing economic partnership between India and Singapore should be happened and also the continuous dialogue on regulatory developments should be given importance that impact cross-border investments,” Gattani said.
Gattani further stressed the need to keep the global Indian community informed about India’s rapidly evolving regulatory and tax landscape. He noted that India not only is at a pivotal stage of economic transformation, but also driven by structural reforms, rapid digitalisation, and a promise to improving the ease of doing business.
According to Gattani, these developments are creating new opportunities for investors, businesses, and professionals while reinforcing India’s position as an attractive destination for international capital.
