India sees taxation level cooperation among BRICS countries: Jaitley

India sees taxation level cooperation among BRICS countries: Jaitley

Mumbai, Oct 13 (IANS) With the annual BRICS (Brazil, Russia, India, China and South Africa) summit in Goa a couple of days ahead, Finance Minister Arun Jaitley said here on Thursday the government was looking for taxation-level cooperation among the members.

“We (BRICS) are learning from experience of each other. Seeing customer and taxation level cooperation among BRICS countries,” Jaitley said in his address at a BRICS seminar.

“BRICS is also discussing rating agency and research institution. It is discussing improving business environment. The contingency reserves agreement is in place,” he added.

Jaitley said that BRICS together represents 40 per cent of the world population and a large part of global GDP.

“New Development Bank is an example of BRICS cooperation. It has initiated a large number of projects in a short time,” he added.

On the Foreign Direct Investments (FDI), the Finance Minister said India probably has the most open FDI policy with 90 per cent of it coming through the automatic route.

“There were several sectors where sectoral limits existed or where there was no FDI. We have now opened up these sectors,” Jaitley said.

But public investment still has an important role to play in India, he added.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of www.mangalorean.com or any employee thereof. www.mangalorean.com is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of www.mangalorean.com to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here