Underlining efforts being taken to further reduce compliance burden for industry, Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Guruprasad Mohapatra has said that reforms like reduction in corporate taxes and introduction of Goods and Services Tax (GST) under taken by the government have created a solid footing to boost investments into the country.
DPIIT Secretary further said that foreign direct investment (FDI) into India is booming, even in the times of COVID-19, and expressed hope that this growth would continue. He also added that certain reforms are like ‘unpalatable medicines’ but they are needed.
While talking about India, Japan trade, he said the bilateral trade ''is not of the volume that we would expect such close allies to have''. There are lot of work to be done on both the sides on that front and ''I hope that we will be working very closely and we will see lot of improvements on that.''