Home / Knowledge / News / FICCI - Obama's tax policy: 'a retrograde step'
FICCI - Obama's tax policy: 'a retrograde step'
06
May '09
Reacting to the statement made by President Barack Obama on ending tax breaks for US companies that invest and create jobs abroad, Mr. Harsh Pati Singhania, President, FICCI said “Such a move if implemented would constrain US companies as they move ahead to benefit from the advantages with regard to production, distribution and marketing offered in different parts of the world.” “In this era of globalization, a much more meaningful measure would have been to evolve a consensus on harmonizing the national taxation systems,” he added.

With the developments taking place in the fields of communication and transportation, the world is becoming a borderless entity. In such a situation, taking measures that force companies to restrict their economic activities in one region and not in the other is a retrograde step.

“In any case several US corporations have come and set up operations in India because of the several advantages our country has to offer. Our large and growing market, large pool of skilled manpower, reasonable labour costs make investing in India an attractive proposition. While this move would certainly have some impact on US investments abroad and into India, in the long run this would only run counter to the interest of US corporations desirous of cost efficient operations across the globe,” said Mr. Singhania.

Federation of Indian Chambers of Commerce and Industry

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 30th Apr 2017

Government revamping tech mission on cotton

Indian Government is working to revamp the technology mission on...

Apparel/Garments | On 30th Apr 2017

Columbia Sportswear records Q1 net sales of $543.8 mn

Columbia Sportswear Company has announced record net sales of $543.8...

Interviews View All

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X