| Encouraging indicators in the Indian economy in the | | | | regular basis by the government too is a step in this |
| form of advanced tax collection and industrial | | | | direction. |
| production at 17.6 per cent in the month of March | | | | Tax reforms and incentives such as direct tax code |
| 2010 have brought enough cheer to investors | | | | (DTC), higher float in indices for free trading etc are |
| investing in India. According to the Union Finance | | | | initiatives that are expected to bolster more |
| Minister of India, Mr Pranab Mukherjee, these factors | | | | investments into the thrust sectors. The doors have |
| are propelling the economy in the right direction. | | | | opened to international trade with signing of free |
| Owing to the euro zone financial turmoil and better | | | | trade agreements (FTAs) with economies such as |
| job security in the Gulf, investors too are returning to | | | | Finland and income tax agreements to avoid double |
| India and better monsoon and strong production | | | | taxation. The government has also set up two |
| output mean the growth story in India would | | | | income tax overseas units (ITOUs) within Indian |
| continue to attract investments. | | | | Missions in Singapore and Mauritius. Eight more such |
| Exports have risen by 35 per cent to US$ 16.1 billion, | | | | units have further been approved in USA, UK, |
| on increasing demand in the western economies. | | | | Netherlands, Japan, Cyprus, Germany, France and |
| Better conducive environments prevail now in the | | | | UAE. These will facilitate smooth garnering of |
| states such as Karnataka, Kerala, etc., which have | | | | taxation revenues without hindrances and tax |
| created industry friendly environs for doing business | | | | evasions in cross-border transactions. |
| in India. The states are now implementing new | | | | The growth trend is substantiated with the report |
| industrial policies, revised IT policies too. Business | | | | data that has come out recently. The Centre of |
| Investment opportunities have opened up in sectors | | | | Monitoring Indian Economy (CMIE) in its report stated |
| such as infrastructure, power, etc., which have helped | | | | that it expects industrial production to grow by a |
| in boosting the economy in the northward direction. | | | | buoyant 9.2 per cent in 2010-11. The growth would |
| Overseas investors are now being guided through | | | | come on top of a 10.4 per cent growth in industrial |
| online facilitation platforms as OIFC, which engages in | | | | production, as measured by the Index of Industrial |
| providing facilitation advice through an expert panel | | | | Production (IIP) in 2009-10, CMIE said. |
| on queries related to investment opportunities and | | | | These factors are hence expected to help retain |
| doing business in India. The refurbished foreign direct | | | | continuity in investment in prime sectors. |
| investment policy with updations scheduled on a | | | | |