12 global firms keen to move to India FM
On Saturday, Finance Minister Smt. Nirmala Sitharaman said that about 12 global companies have demonstrated a willingness to shift their base from China to India, taking advantage of competitive tax rate of 15% announced recently. This 10% point dip is said to be the biggest reduction undertaken by the government in the last 28 years. “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”, the minister stated.