India seeks parliamentary approval: tax reforms to attract foreign funds
India will seek parliamentary approval for a fresh set of tax reforms aimed at attracting more foreign money and boosting local manufacturing.
The plan? Tax cuts for foreigners who buy Indian government bonds, plus new exemptions for offshore funds managed from India.
It's all part of Prime Minister Modi's push to turn India into a global manufacturing hotspot and make the economy more resilient when the world gets shaky.
India's proposed tax incentives risk delay
The proposals include extending tax holidays for electronics makers (think phones and laptops) by another decade, and giving foreign investors a break on taxes from government securities.
There are also extra perks lined up for overseas suppliers, data centers, and diamond mining.
But here's the catch: Parliament wraps up soon, and ongoing protests over student issues could delay these reforms from becoming law.