The Chinese media has been very attacking towards India for quite some time now since the beginning of Sikkim stand-off; however, the state-run news daily Global Times has recently praised India for rolling out Goods and Services Tax (GST). The leading daily has talked about the huge investments that will be made by manufacturers such as Samsung, Foxconn and Midea and how aggressively the Indian government is working towards reforms for making it an attractive investment destination.
The Chinese newspaper has also stated that it won’t be easy for the government to accomplish what they want to as it has to deal with problems like poor infrastructure. What’s more, implementing policies in different states won’t be an easy task. The news daily termed the implementation of GST as “the country’s biggest tax reform since its independence in 1947”. It refers to the reports published in TOI on different dates which tell that Foxconn will invest around $5 billion in India and Samsung will invest $608.28 million while Midea group will make an investment of around $123.98 million for setting up a manufacturing unit in Pune. It will start working by 2018 and provide employment to 500 people in 5 years.
In the opinion of the news daily, GST will also provide strength to the “Make in India” initiative of the government because it will bring all the states on single platform as far as taxes are concerned. As a result, it will be “laying the foundation for a common national market and improving India’s manufacturing competitiveness”.
The news daily has also talked about the challenges that will be faced by the government to achieve success in Make in India campaign. It states,
“But it will not be easy for India to achieve its goal. Regulatory and bureaucratic challenges across the country’s 29 states mean that implementation of the reform measures will be far from simple, while poor infrastructure and cultural complexity may also undermine India’s advantage in terms of cheap labor.”
Below is the screenshot of the report published by Global Times:
What do you think of the opinion given by the Chinese daily?
The post “GST Is India’s Biggest Tax Reform Since Its Independence,” Chinese Media Praised Modi’s Decision appeared first on RVCJ Media.