An excellent development for India: Adi Godrej

That the new government will be led by a combination in which one party has a majority in Parliament is an excellent development for India. This will enable bold and quick decisions. We need to ensure we record gross domestic product (GDP) growth of at least eight per cent next financial year. To achieve that, the key priorities will be:

• Improving the ease of doing business in India. This was never very good, but deteriorated further during the last three years.
   
• Solving tax disputes with foreign and Indian investors, as a result of the retrospective amendments and transfer pricing interpretations.
   
• Providing fiscal stimuli to improve industrial growth. Also, the minimum alternate tax needs to be reduced, as various fiscal incentives provided do not accrue to the companies that made large investments due to the minimum alternate tax.
   
• Introducing the Goods and Services Tax at an early date because that could add two percentage points to India's GDP growth, other things being equal.