GST to facilitate ease of doing business: EU
GST
Dated:- 6-10-2017
New Delhi, Oct 6 (PTI) The European Union (EU) today gave thumbs up to India's Goods and Services Tax (GST) saying the new tax regime would facilitate ease of doing business.
\nVisiting EU leaders also welcomed India's efforts to promote economic and social development and expressed interest in participating in initiatives such as 'Make in India' 'Digital India', 'Skill India', and 'Start-Up India'.
\n"The EU closely follows Prime Minister (Narendra) Modi's economic reforms, including the historic introduction of the Goods and Services Tax (GST), which can facilitate ease of doing business and promotes market integ<\/p>\n
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\n"The leaders noted the progress made on EU-India cooperation on resource efficiency and circular economy. Both sides agreed to enhanced cooperation and exchange of experience and best practices in the field of Intellectual Property rights (IPR) and public procurement," it said.
\nThe leaders expressed their shared commitment to strengthening the Economic Partnership between India and the EU and noted the ongoing efforts of both sides to re-engage actively towards timely relaunching negotiations for a comprehensive and mutually beneficial India-EU Broad Based Trade and Investment Agreement (BTIA).
\nWith regard to import tolerance level of tricyclazole in rice the relevant plant protection companies will be invited to present new <\/p>\n
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\n"Leaders acknowledged that the 'Make in India' initiative may offer investment opportunities for companies based in the EU Member States," it said.
\nFurther, the two sides reiterated the importance of reconciling economic growth and environment protection.
\n"They highlighted the importance of moving towards a more circular economic model that reduces primary resource consumption and enhanced the use of secondary raw materials," the statement added.
\nLeaders also reaffirmed their commitment to work together with all Members of the WTO to make the eleventh WTO Ministerial Conference a success with concrete results.
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