Doing Business in India

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  • Topic: India, Financial market, Bank
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Doing business in India

Editor-in-chief: Paresh Parekh Editorial board: Miti Shah Meena Khivasara Manthan Dholakia Publishing & Marketing: Pooja Walke Jerin Verghese Artwork: Jaspal Singh Cover image concept: Arjun Kariyal Pooja Walke Logistics: Tripti.Panda Write to us @: Tax.Update@in.ey.com Websites: ey.com/DBI ey.com/in/Tax Services ey.com/in/BudgetPLUS2012

“W

e are keen to see FDI investment to surge in India and to that end, a favourable business climate will be helpful in going forward. We are encouraged consolidation. That there is a determination to improve the tax code. There is a determination to cap the subsidies at two per cent. All of those measures are good measures.” Christine Lagarde Chief, IMF (March 2012)

“T

he structure of the economy has changed since 1991. Our more matured, more diverse and much deeper. They have the resilience to absorb shocks. India’s growth story is intact...” D. Subbarao Governor, RBI (April 2012)

“I

believe that, around the world, there is enormous goodwill for India and most people continue to keep faith with the India growth story. It is natural that they look closely at certain economic indicators, one of them being the exchange rate. Volatility of the exchange rate has reduced in recent weeks. A reassurance on the – both FDI and FII – will bring further stability to the exchange rate. We intend

“I

t is important for India to continue with its structural reforms to sustain its high growth. The fact that even seven per cent growth is spoken of as not being good proves that the Indian economy has set high bench mark. India and the World Bank Group have been exceptionally good partners during a time India should take its priorities forward to meet the challenges and opportunities lying ahead. This would ensure continuance of the momentum of the Bank’s successful engagement with India.” Robert B. Zoellick, President, World Bank Group, March 2012

P Chidambaram Finance Minister, India

“D

espite challenging economic conditions, India continues to be among the fastest growing economies in the world. The growth might have climbed down to 7% from its normal trajectory of 8.5%–9.0%; nevertheless, it continues to be impressive in the midst of anxiety all around. A large domestic market led by the emergence of a important middle class population, investor-friendly policies, rising foreign exchange reserves, availability of skills and demographic prospects are some of the strong positives that are behind the Indian growth story.” Chandrajit Banerjee, Director General, Confederation of Indian Industry (CII), 2012

“T

oday, India has global responsibilities of a kind that it did not have earlier. Our presence at the high table of global economic policy makers is a matter of some satisfaction. If India can continue to build on its economic strength, it can be a source of stability for the world economy and provide a safe destination for restless global capital.” Pranab Mukherjee President and Former Finance Minister, India (March 2012)

This book has been prepared by Ernst & Young Pvt. Ltd. (EYPL) to provide busy executives a quick overview of the investment climate, taxation, forms of business organizations, and business and accounting practices in India. This publication should be used as a research tool only. However, the information contained here is in a summary form, and should not be substituted for the tax professional’s own work in relation to client matters. In those circumstances, reference should always be made to the original reference material quoted against the related information to ensure added accuracy. The information presented in this book has been validated as of 15 July 2012. Neither EYPL nor any other member of the Global EY organization accepts any responsibility for loss occasioned to any persons acting or refraining from action as result of any material in this publication. This book is prepared for use by Ernst & Young’s...
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