India’s New Party Election Could Lure U.S. Firms
The sweeping victory of India’s opposition party and its pro-business leader will likely create a more stable, tax-friendly investment climate for U.S. companies, analysts say. On Friday, the Bharatiya Janata Party and its allies won more than the 272 seats needed for a majority in Parliament, pushing the long-dominant Congress party from power and setting the stage for Hindu nationalist Narendra Modi to become the next prime minster of the world’s largest democracy. 63-year old Modi, the son of a tea seller who rose to become chief minister of the western state of Gujarat, campaigned on a platform that focused on economic development — not religion. For example, the BJP said it would end “tax terrorism” partly by getting rid of controversial 2012 legislation that allowed for retroactive corporate taxes.
“India’s New Party Election Could Lure U.S. Firms” is categorized as “business”. This video was licensed from Grab Networks. For additional video content, click the “video” tab at the top of this page.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.