Reassuring investors, Finance minister P Chidambaram on Monday reiterated that India would not unilaterally amend the India-Mauritius Double Taxation Avoidance Agreement with Mauritius.
“No unilateral decision would be taken, negotiations are on and we would see what to do after holding discussions,” Chidambaram said during a meeting with industry chambers.
The finance ministry has already said that tax authorities would not go beyond the Tax Residency Certificate (TRC) if the investor was from Mauritius.
At a customary post-budget interacton with industry bodies, Chidambaram said foreign investment was key to getting back on the high growth path.
“We need to ensure that there is enough inflow of foreign investment.” The Securities and Exchange Board of India would hold a meeting with foreign instituional investors to discuss issues, he added.
Chidambaram will travel throughout the country to understand the issues of industrialists. He would also visit Japan, Canada and the US to woo foreign investors. “We need to get the growth engine going.”