Google CEO says that the industry may increase investments in India

Pichai said that he is excited about the GST that is expected to be implemented from July 1. 

Sundar Pichai (Credit: Twitter)

Google’s Sundar Pichai was one of the CEOs who met Prime Minister Narendra Modi on Sunday. Post meeting, Pichai said that Modi wanted inputs on how to increase foreign investment to India.

“It (the conference) was a discussion across many industries and I think the Prime Minister was looking for insights into how India can attract more foreign  investment,” Pichai said, Business Standard reported on Monday.

The tech executive said that there were some important issues discussed during the meeting and the businesses are interested in increasing their investments in India.

“I think there were many good ideas discussed and I think everyone is excited to invest more in India and I’m excited about what we all can do together,” Pichai added. “We are all looking forward to the July 1st rollout [of the Good and Services Tax (GST)]. I know it has been a very difficult thing to do so I’m excited to see it happen. Shows that you can achieve reform by pushing hard for it and I hope it is just the beginning.” GST is Modi government’s one of the main initiatives. In an effort to streamline the tax structure in the country, the Modi government will be launching a comprehensive indirect tax that will substitute the existing indirect taxes on goods and services by the Indian Central and state governments. It is the government’s endeavor to offer a more attractive business environment in the country. As of now, Indian tax system repels entrepreneurs through the cumbersome process of following different taxes. GST would efface at least 15 different central and state taxes.

GST is Modi government’s one of the main initiatives. In an effort to streamline the tax structure in the country, Modi government will be launching a comprehensive indirect tax that will substitute the existing indirect taxes on goods and services levied by the Indian Central and state governments. It is the government’s endeavor to offer a more attractive business environment in the country. As of now, Indian tax system repels entrepreneurs through the cumbersome process of following different taxes. GST would efface at least 15 different central and state taxes.

Modi underscored that India is an important business destination and New Delhi’s growth would benefit the US; adding, that “the implementation of the landmark initiative of GST could be a subject of studies in US business schools.”

 

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