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"GST is likely to increase solar power project costs by at least 10%"

Overall, Ravichandran Purushothaman believes GST will have a positive impact on Indian economy

Ravichandran Purushothaman
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Ravichandran Purushothaman, President, Danfoss Industries Pvt Ltd

Ravichandran Purushothaman
The GST regime will cause a tectonic shift in India’s taxation history. I foresee transparency in the business chain which will enable significant value creation for the Indian economy. While this might require a shift in mind-sets of companies - from the way they do business, to the fact that all channels will have to be digitalised at every stage - the goal is perfection in execution to achieve transformation.

GST on power & renewables 
When one looks GST’s impact sector-wise, the power sector is likely to see a positive impact. This is largely because of the thermal power sector where coal