Why MNCs and int’l investors are giving India a miss while still liking the other “I”: Indonesia.
Seven international trade associations have written to Indian Prime Minister Manmohan Singh criticising a new tax proposal under which even 50-year-old corporate deals could be scrutinised.
The proposals were announced as part of India’s federal budget last month.
The associations warned that the firms they represent could reconsider their business ventures in India.
And the cancellation of telecoms’ licences doesn’t help.