The US companies are keenly looking at the Union Budget to be presented on Tuesday by Finance Minister Nirmala Sitharaman. According to the head of a top India-centric US business advocacy group, American companies having a foothold in India and those planning to expand their business in the fastest growing economy of the world expect tax parity in the annual budget.
Mukesh Aghi, president of US India Strategic and Partnership Forum (USISPF) said the American companies have high expectations from what Sitharaman would present in her fourth annual budget on Tuesday.
Also Read
The US companies, he noted, are very keen on investing in India as they believe that the fundamentals of the economy remain strong in the country, offer a big market and they would like to diversify given the Chinese risk factor.
They (US companies) are looking at tax parity. For example, e-commerce companies that have equalisation levy, that needs to be done away with. They are looking at lowering of tariffs. It is good for India also because domestic companies become much more competitive and efficient, he told.
(With inputs from PTI)
For all the latest updates on Union Budget 2022, follow our LIVE blog here
For full coverage of Union Budget 2022, click here
First Published: Feb 1, 2022 10:35 AM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
BJP is planning to ban RSS, says Shiv Sena (UBT) chief Uddhav Thackeray
May 18, 2024 8:01 PM
Punjab Lok Sabha elections: Complete list of Congress candidates
May 18, 2024 4:08 PM
Punjab Lok Sabha elections: Check full list of AAP candidates and constituencies
May 18, 2024 12:59 PM
PM Modi, Rahul Gandhi election rallies in Delhi today: Here are the routes to avoid
May 18, 2024 11:28 AM