(FE)
Finance minister Nirmala Sitharaman said the government was talking to “companies of stature and size” who had left China to woo them to set up base or relocate here and was in possession of “very reliable intelligence that they will indeed choose India”.
Considering that Vietnam has emerged as an attractive investment destination for multinational firms, she said the east Asian country, too, had certain limitations like the saturation in its labour market. “I am keeping in mind (Vietnam’s) limitations to (hardsell) ourselves (as) attractive destination for investors. So, we are factoring in many things, based on fairly reliable business information, and are putting them into a scheme of offers,” she said. India recently slashed corporate tax rates to make it competitive among peers.
Speaking at the Express Adda organised by The Indian Express here, she also hinted that the banking regulation Act may be amended to enhance the RBI’s supervisory and regulatory powers over cooperatives and other non-bank entities that practically perform like banks.
