THE INDIA GROWTH STORY
India’s Unhindered Economic Growth
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India – World’s Fastest-Growing Economy
India’s GDP took only 5
years to move from
USD 2tn to USD 3tn
01 Highest
in economic growth worldwide
Huge Potential
02 likely GDP growth could be
~8-9% in FY24 on a base of From being ranked #10
USD 3.5 trillion worldwide in 2015, India’s
GDP surpassed that of
Economic Relations
03
Russia, UK, Italy, Brazil,
in economic growth worldwide France to be presently
Preferential access, economic ranked # 5 worldwide
cooperation and FTA
with more than 50 countries
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CONTRIBUTING FACTORS
Beneficial Corporate Tax Regime
Available corporate tax rates
Beneficial tax regime was announced to
incentivise companies for setting-up
manufacturing base in India
Newly incorporated companies commencing
manufacturing on or before March 31, 2024
eligible for the regime
Structures identifiable to avail beneficial tax regime for existing operations, especially where expansion
contemplated, subject to mitigating the anti-abuse provisions
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Incentivization
PLI SCHEME STATE INCENTIVES
• Incentives based on • Varies state wise – with standard
incremental sales incentives being reimbursement of
state taxes
• New PLI expected for
textiles, chemicals, bio-fuel, • Negotiated package of benefits for
etc mega investments
SPECS SECTOR SPECIFIC POLICIES
• 25% incentives on eligible CAPEX • CAPEX subsidy for identified sectors
• Goods covered - Electronic components, • Incentives approved for Champion
semiconductors, specialized sub-assemblies Sectors
and capital goods for these items
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Measures To Promote Local
Public Procurement (Preference to Make in India), Order 2017
Amendment introducing revised concept of Class-I & Class-II local supplier
(with minimum value addition in India) and Non-local supplier.
Preference to local suppliers in procurement by Central Govt. debarring Non-
local suppliers from bidding where a Global Tender Enquiry is not invited.
General Financial Rules 2017 (GFRs)
PROMOTING Amendment made in the GFRs, disallowing Global Tender Enquiries (GTE) for
MAKE IN INDIA public procurement up to the value of USD 30 Mn
National Security Directive on Telecom Sector (‘Directive’)
Telecom service providers (‘TSP’) and internet service providers (‘ISP’) in India
to procure “Trusted Products” procured from “Trusted Sources”.
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Revamp of Regulatory Landscape
SCOMET Recent National Security
Developments Directive
Government shall approve TRUSTED SOURCES and
Gradual introduction of simplified licensing regimes
TRUSTED PRODUCTS for installation in the
– Export for repair and return, GAICT, GAER, GAED
country's telecom networks – In line with TSA in UK
DGFT open to industry representations – focus on
Relevant portal access would be given to vendors
ease of doing business in India
Greater scrutiny of new applications and
Evaluation of product and its components with a
supporting documents including one on one
view to tighten network security
mapping
Trusted Product approval on case to case basis –
Improved enforcement and vigilance by customs
one year validity in most cases
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Revamp of Regulatory Landscape – Miscellaneous
Compliance Applicability
Plastic Waste - Registration on the centralized EPR portal and submit Action Plan
Management
- Fulfill Extended Producer Responsibility – reuse, recycle, use of recycled content, EOL
disposal
Registration under the - A one-time registration is required for persons engaged in importing and selling pre-
Legal Metrology law packaged commodity
- Other compliances not attracted case of sales to industrial or institutional consumers
WPC ETA certificate Product compliance for import of wireless products into India
BIS Standards to be followed for various products
MTCTE Testing and certification of various telecom equipment – Phase IV will cover routers,
switches, etc.
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IMPACT
Foreign Investment
$ 532 Bn Breadth Approvals
From162countries
Into 61 different sectors and
across 31 Indian states
Over last 90 With forward looking policy
regime, majority sectors do not
months require any pre-approval or
licensing for investment into
India
8 consecutive years of
growth in FDI received
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Key Recent Foreign Investors In India
(Fresh/ Incremental Investment)
Google Hyundai Samsung Flex
Apple Kia Airbus
Wistron Amazon Web
Services Pegatron Facebook
Google Cloud Foxconn Dentsu Aegis
Network
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