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Jaitley assures Turkish investors of rational tax regime

Assuring a rational tax regime and easier environment for doing business, Finance Minister Arun Jaitley on Friday urged Turkish industry leaders to invest in India.

“We are in the process of rationalising our tax structures, both direct and indirect taxes… We have very large natural resources, while we have expedited the clearances and more and more laws are being liberalised,” he said in an interactive session with Turkish business leaders on the sidelines of the G20 Meeting of finance ministers and central bank governors.

“We have made significant progress on ease of doing business, although I would not say as yet that we have perfected it,” Jaitley said.

Inviting Turkish investors into areas like smart cities, textiles, food processing and renewable energy, the finance minister said the infrastructure sector, including the recently announced 98 smart cities, offer significant opportunities for companies from Turkey.

At the meeting organised by the Confederation of Indian Industry, Jaitley also suggested that Turkish construction companies could form a consortium and explore business opportunities in India with the help of the CII and the Turkish-Indian Chamber of Commerce.