Finmin to look into tax issues, suggestions of FPIs, says Das

NEW DELHI: The finance ministry on Tuesday promised to look into some taxation issues raised by foreign investors and consider their suggestions to attract more

NEW DELHI: The finance ministry on Tuesday promised to look into some taxation issues raised by foreign investors and consider their suggestions to attract more investment to the Indian market.

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After attending a three-hour meeting with 35 foreign portfolio investors, including Citi, JP Morgan and Goldman Sachs, economic affairs secretary Shaktikanta Das said: “Nobody had reservations about the robustness of the Indian economy.”

“They are looking at bigger investment opportunities in the Indian market. The outlook is very positive.”

He said the ministry would examine the suggestions made.

“Some of them suggested the process should be simplified... many also raised some taxation issues. Officials of the revenue department, RBI and Sebi also attended the meeting,” he said.

The ministry, he said, might decide on the issues after consulting various agencies. The main focus of the meeting was on the ease of doing business.

“The government wants to consolidate India’s position and attract more investment... We will take whatever decisions need to be taken,” Das said.

On whether investors’ suggestions would be reflected in the government’s annual account, he said: “With the budget around the corner, we may consider some suggestions.”

Das said they would also meet domestic investors soon.