Modi assures US of predictable and stable tax regime

Asserting that economic and financial cooperation between India and the US was an important pillar of their strategic ties, Prime Minister Narendra Modi today assured the US that his government was committed to provide predictable and stable tax regime and policies.

Modi conveyed this to visiting US Treasury Secretary Jacob Lew, who called on the Prime Minister. Lew was accompanied by Vice Chairman of the US Federal Reserve, Stanley Fischer.

The Prime Minister also welcomed the interest expressed by the US companies to invest in the country, an official release said.

Reiterating that the economic and financial cooperation between India and the US was an important pillar of their strategic partnership, Modi said, "the government was committed to provide predictable and stable tax regime and policies."

He also recalled "the landmark and highly successful" State visit of the US President here as the Chief Guest at the Republic Day parade, the release said.

On his part, Lew expressed deep appreciation at the financial inclusion initiative of 'Pradhan Mantri Jan Dhan Yojana' that has connected over 100 million people with the mainstream economy in India.

The US Treasury Secretary also appreciated the positive approach adopted by India in addressing issues of foreign investors.

Lew and Fisher participated in a day-long India-US Economic and Financial Partnership dialogue which was co-chaired by Finance Minister Arun Jaitley.