“We have formulated progressive and investor-friendly tax insurance policies. We have stated ‘Good Bye’ to retrospective taxation.
“The belief between the federal government and the industry has increased following the scrapping of the retrospective taxation. By doing this, we’ve got rectified the error of the sooner authorities (UPA),” Singh stated.
He stated the federal government is getting ready for ‘dynamic progress’ on this complete decade and famous that there’s a lot of scope for American and Indian defence companies to go for co-production and co-development of army gear.
“The coronavirus pandemic has introduced newer challenges in phrases of disruption to provide chains, a downturn in industrial actions, unfavorable progress in journey and tourism industry and there is no such thing as a doubt that the Indo-US cooperation will go a protracted option to restore normalcy and additional increase financial dynamism,” Singh stated.
A quantity of high executives of main American defence corporations participated within the summit organised by the Indo-American Chamber of Commerce.