12/11/2016

EuropeanUnionwelcomesIndia'sstepondemonetisationTheEconomicTimes

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EuropeanUnionwelcomesIndia'sstep
ondemonetisation
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ByPTI|Updated:Nov13,2016,03.35PMIST

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READMOREONGST|EUFreeTradeAgreement|CurrencyBan|BTIA|Blackmoney

NEWDELHI:WelcomingIndia'sdecisionto
withdrawhighvaluebanknotesaspartofits
fighttorootoutblackmoney,theEuropean
Unionhassaidriddingthefinancialsystem
of"blackcomponent"andbringing
transparencywillstrengthenIndian
economyandspurgrowth.
CallingIndiaoneofthemostattractive
investmentdestinationsglobally,Vice
PresidentofEuropeanCommissionJyrki
Katainenalsocomplimentedthe
governmentforitsresolvetorolloutthe

CallingIndiaoneofthemostattractiveinvestmentdestinations
globally,VicePresidentofEuropeanCommissionJyrkiKatainen
alsocomplimentedthegovt'sforitsresolvetorolloutGST
soon,besidesmanyotherreformmeasures.

GoodsandServicesTax(GST)soon,
besidesmanyotherreformmeasures.

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Onavisitheretopushforresumptionof
stallednegotiationsonEUIndiaBroad
basedTradeandInvestmentAgreement
(BTIA),hesaidfightagainsttaxdodgers
andthosehavingillgottenwealthwillpay
dividendsandstrengthenthefinancial
system.
"Allthemeasureswhichwillreduceblack
economyarealwaysgoodforpeopleand

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thefinancialsystem,"hetoldPTIongovernment'sdecisiontowithdrawRs500and1,000
notes.

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ReferringtoGST,hesaiditisa"veryambitious"and"verynecessary"movetoreformthe
taxstructureinIndiathatwillfurtherboostconfidenceofinvestorsinIndia.
ThetopEUofficialsaidinvestorsfromEuropeancountriesarebringing"whiteclean
money"toIndiaandtherewasaneedtoresumethetalksonBTIA,popularlyknownas
freetradeagreement.

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EUisoneofIndia'sleadingtradepartnerandthetwowaycommerceingoodsbetween
IndiaandtheEUwas$98.5billionin201415.

SPOTLIGHT
TrumpNama

KatainensaidflowofEuropeaninvestmentsintoIndiaissettoincreasemanifoldifboth
SaturdayFeature
sideswereabletofinalisetheBTIAasitwillprotecttheinvestments.

"EUinvestorsarebringingwhitecleanmoneyintoIndiaandthatiswhythetradedealis
veryimportantasitwillprotecttheirinvestments,"hesaid.

http://economictimes.indiatimes.com/news/economy/policy/indiascrackdownonblackmoneytohelpfinancialsystemeu/articleshow/55399290.cms

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12/11/2016

EuropeanUnionwelcomesIndia'sstepondemonetisationTheEconomicTimes

KatainensaidIndia'sexistingtradeandinvestmentagreementwithTheNetherlandswill
cometoanendintwoweekswhilesimilarpactswithseveralotherEUcountrieswill
expireincomingmonths,whichwillmakeitdifficultfortheEuropeancorporatestogofor
freshinvestmentinIndia.
Hesaidwithoutsuchpacts,thecostofcapitalforIndiawillgoupsignificantly.
AsperEuropeanUnionlaw,nomembercountrynowcangoforbilateraltradeand
investmentpactwithIndiaasthegroupingisinnegotiationsforaEUIndiaBroadbased

Won'tallowH1Bvisaholdersto AtaleoftwohospitalsinTamil
TradeandInvestmentAgreement(BTIA).Byendof2017,India'stradeandinvestment
replaceUSworkers
Nadupolitics
"Theforeignworkersbroughtintoreplace
them.Wewon'tletthishappenanymore,"

pactwith23countriesislikelytoexpire.
WhileApolloisasymbolofthesuccessof
TNsservicessector,theTNGMSSHlooks

Trumpvowedamidstcheersandapplause

toograndtobeahospital.Itwas,actually,

fromtheaudience.
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http://economictimes.indiatimes.com/news/economy/policy/indiascrackdownonblackmoneytohelpfinancialsystemeu/articleshow/55399290.cms

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