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Policy uncertainty, cost of doing business dent investor confidence, says CII President
India’s corporate tax rates may have been cut, but the effective cost of doing business remains high if you factor in the cesses and the mandatory CSR spending norms, Confederation of Indian Industry (CII) president TV Narendran said. The Tata Steel global chief executive and managing director said the sanctity of contracts has also been fraying. “It should not be that somebody has won or lost an election and the validity of contracts then suffers. The Union as well as State governments need to do more to ensure sanctity of contracts and policy certainty to boost investor confidence in India,” he emphasised, while speaking on structural challenges for the country’s manufacturing sector, vaccination programme and the economy in a free-wheeling interview with The Hindu.
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