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Business EconomyPosted at: Jan 29 2016 5:40PM


Invest ahead of curve: DIPP Secy to Swedish firms

New Delhi, Jan 29 (UNI) Inviting Swedish companies to invest ahead of others in India, DIPP Secretary Amitabh Kant today said the Government is determined to bring predictability and clarity in its policies.
“ If any Swedish company has challenges, we will be very happy to support it. At the end of the day, I wish the Swedish companies get in and do business as there is huge, huge level of possibilities. My only request is that you invest ahead of the curve. Three years down the line India will be a very, very attractive destination and you will find it impossible to get land to set up shop here. So, invest right now”, said Mr Kant at a 'Sweden Makes Business in India' event here today.

The DIPP secretary further said the government will act as an enabler for the Swedish companies and is ready to modulate its policies.

“We on behalf of Government of India hold your hands (Sweden) and act as a facilitator and anything we can do. We will be very happy to do, including change in rules, regulations, policies and anything which is hindrance in your business growth and further expansion in India. We will be very happy to support you, encourage you in doing business here,” Mr Kant said.

However, the DIPP secretary also tried to address Swedish companies' concerns pertaining to tax and investment regime in India.

“There are several challenges -- challenges of consistency, predictability and clarity on tax policies. The Government is taking a series of measures to ensure predictability and consistency …. I just wanted to assure you that the government is determined to bring predictability, consistency and clarity in its policies. To my mind in the last 15-16 months, the government has not taken a single wrong decision.

He said government is determined to ensure that the states grow at more than 12 per cent.

On release of Business Climate Survey (BCS) 2015-16, Harald Sandberg, Ambassador of Sweden to India said, “I am happy to note that despite a slight dampening of the sentiment this year, companies continue to invest and expand their operations in India.”

The BCS 2015-16 found that the Swedish companies choose to export from India as part of their global supply chain strategy and 65 per cent of firms have planned to increase their workforce in the coming years.

The survey has also found that the environment for doing business in India is conducive, in contrast with pessimism in the global market.


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