12 global companies evinced interest to shift base from China to India: FM Sitharaman



MUMBAI: Finance minister Nirmala Sitharaman on Saturday said about 12 global companies have evinced interest to shift their base from China to India, taking advantage of competitive tax rate of 15 per cent announced recently.


In the biggest reduction in 28 years, the go nment in September reduced corporate tax rate by almost 10 percentage points in a bid to give a boost to the sagging economy.


Base corporate tax for existing companies has been reduced to 22 per cent from 30 per cent, and for new manufacturing firms incorporated after October 1, 2019 and starting operation before March 31, 2023, it was slashed to 15 per cent from 25 per cent.


"I had said that I will form a task group, which will look into those companies which want to get out of China, and in the meanwhile I announced the corporate tax cut. There were many companies which were showing interest and wanting to come back.


"So, this task force has already started contacting many of these companies. The last count, I came to know was about 12 of them have already been spoken to, their minds understood, their expectation listed out so that the go nment can come up with a concrete offer for them to shift from where they are now, so that the ecosystems can get built here, new industries can come," she said.



译文来源:阿巴森 http://www.abaripsen.com/48886.html 译者:Jessica.Wu


Tim• 13 hours ago

Those 12 companies were just kidding...



Vande Matram• 11 hours ago

exactly ... no one wants to say that they are not interested in India. after all, there is a huge market in India and its access may be at risk.



Jaisimha DR• 9 hours ago

Hope our PM doesn''t encourage only Gujarat.



sanjay gupta • 14 hours ago

100 companies shifted to China from India and only 12 are coming to India.


Bonny Moraes• 13 hours ago

The rest will follow suit. The grass ‘was’ greener.



Vande Matram• 11 hours ago

Clearly, FM has no other gameplan to revive the economy.



A • India • 13 hours ago

Modi and his team have failed. Man Mohan ko bulao ab.



Ronak Patidar• 14 hours ago

this will surely provide emoloyment to peoples ,but another problem is that skillfull peoples are less and everyone want job without skill



Arindam Kumar• 14 hours ago

"Never count the chickens before the eggs hatch."



Amar No Akbar No • Bengaluru • 14 hours ago

But 120 are ready to go back to China Madam.......



RAJVEER SINHA• 13 hours ago

Ma'am..plz stop fooling the people by Ur FAKE INFORMATION.

女士. .不要再拿假信息来忽悠人民了。


Shantanu • Delhi • 13 hours ago

Just shut up and stop your daily lies and resign.



Another View • Mumbai • 14 hours ago

Every macro indicators are showing fall since 6 years.



Bllog Suri • NA • 13 hours ago

This lady is incompetent.



Viney Chawla • 13 hours ago

Only fools come aboard a sinking ship.



aaaa bbbb • 13 hours ago

Madam please take some training from Dr. Manmohan Singh.



A • India • 13 hours ago

Economy is down but instead of boosting consumption, you gave tax break to corporates



Prodeep Dutta • Hyderabad • 13 hours ago

Microsoft also shifting from its headquarters from USA to India. Modi hai tho mumkin hain



Vihin • Nihiv • 12 hours ago

It means Govt is waiting for these 12 companies to make India and its economy great again.



Raj • 13 hours ago

what's onion price, mam?



Dip • India • 13 hours ago

Madam you have missed the bus already. Those who wanted to move already moved to Vietnam and with trade deal happening soon others will not move. You are just talking about it since months and they all moved to other places.



Ekdesi • USA • 18 hours ago

Hundreds of supply chain companies have already moved to Vietnam and Thailand. We are still talking about interest of 12 companies.


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