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
• Incentives based on
incremental sales
• New PLI expected for
textiles, chemicals, bio-fuel,
etc
SPECS
• 25% incentives on eligible CAPEX
• Goods covered - Electronic components,
semiconductors, specialized sub-assemblies
and capital goods for these items
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STATE INCENTIVES
• Varies state wise – with standard
incentives being reimbursement of
state taxes
• Negotiated package of benefits for
mega investments
SECTOR SPECIFIC POLICIES
• CAPEX subsidy for identified sectors
• Incentives approved for Champion
Sectors
 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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Thank you