NEW DELHI - As Prime Minister Narendra Modi starts his seven day visit to the United States on Saturday , he will be bringing to American investors the pitch that India now boasts a corporate tax rate which is among the lowest in the world.
The move is seen to be a gamechanger as the cuts put India among countries that have a low corporate tax rate, and will make the South Asian country more competitive for foreign investment. On Saturday , Mr Modi will participate in a round table meeting with the chief executives of energy companies. Mr Trump, who has called India"tariff king", removed the South Asian country in June from a list of beneficiary developing nations under the Generalised System of Preferences programme that allowed duty-free entry for up to US$5.6 billion worth of its annual exports to the US.The US has been pushing India to further open its markets to diary products and medical devices, among others, and provide a more favourable business climate for its companies.