India Won’t resort to Retrospective Taxation : PM Modi

13 April, Hannover

The Prime Minister has said that his government has removed a lot of regressive taxation and assured the foreign investors that it will not resort to retrospective taxation.r Narendra Modi said if such issues do arise, it will be reviewed at the highest level.

Addressing a joint inauguration session of Indo-German Business Summit in Hannover,r Modi said his government has taken bold steps of not dragging the litigation in a few cases where it felt that the steps of the previous government were not on right lines.

Advising the German businessmen to come and feel the change in India’s regulatory environment, he asked them not to go by old perceptions.

The Prime Minister said that a Lot of efforts have been made and efforts are still underway to improve the ‘Ease of Doing Business’ in the country• He said efforts are on to introduce an element of transparency and predictability in taxation system.

Reiterating the advantages for the global investors in investing in India’s Make in India Programme, Modi said India has demographic advantage, democracy and demand for their production. Later making a fervent pitch for German Investments in India, he said it is a historic opportunity for them.

The Prime Minister has since arrived in Berlin. He will visit Siemens facility in the city. This company is known for the skill management programme.

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