In order to ensure long-term investor interest into the country, Godrej says the government must emphasise on ease of doing business, along with a stream-lined, investor friendly tax regime such as GST.
Both global and domestic investors are very optimistic on India and the Economist Summit will help accelerate investments into the country, says Adi Godrej, chairman, Godrej Group, from the sidelines of the Economist India Summit 2014.
He expects a big shift (major acceleration) in India's GDP growth over the next 10 years, which is also expected to attract investor attention, he adds.
In order to ensure long-term investor interest in the country, Godrej says the government must emphasise on ease of doing business, along with a stream-lined, investor-friendly tax regime such as GST. He says investors world over look favourably upon a government/ country that lives by the motto that lower rate of taxation brings in more revenue (collection).
He believes people are willing to invest into the country, but says a lot will depend on how well demand on the ground improves. He feels the government will keep making important announcements, and expects it to set long-term goals in the next Budget (February).
However, despite all the positive developments and sentiments, on the ground there is no major revival in consumer demand. Godrej expects a major pick-up in consumer demand in the second half of the year.
On the positive side, key inputs like crude, vegetable oils have started softening that will ease inflation, he adds.
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