India’s Protectionism Might Hinder Its Economic Growth — and Affect Global Partnerships

India’s growth and global heft crucially depends on its economic openness and willingness to provide a level playing field to foreign companies.

Indians elated by projections of a post-COVID-19 economic recovery must remember that these projections are predicated on India maintaining an open economy. New Delhi may feel bullish about the recent projections by global investment conglomerates Morgan Stanley and Goldman Sachs that India’s economy will bounce back in 2021 and grow at over 5 percent in 2022.
As a Bloomberg Quint column noted this is akin to operating «with one hand tied behind their back».
The Indian government sought capital gains tax from this purchase and the dispute went to India’s Supreme Court where the apex court held that «the government’s tax jurisdiction didn’t extend to the Cayman Islands».

This article was written by Aparna Pande