PM says will further improve tax regime to attract overseas investment

Attracting new investment is key to creating jobs and boosting growth in the economy, which slowed to a six-year low growth rate of 5 per cent in the quarter ended June

India is committed to further improving its people-friendly tax regime, Prime Minister Narendra Modi said, as Asia’s third-largest economy seeks to attract more overseas investment to spur growth.

The government has cut corporate tax rates and introduced a nationwide goods-and-services charge to integrate the nation’s economy, Modi said in a speech at Aditya Bira Group’s golden jubilee celebrations in Thailand on Sunday.

“We want to work toward making it even more people friendly,” he said.

Attracting new investment is key to creating jobs and boosting growth in the economy, which slowed to a six-year low growth rate of 5 per