NEW DELHI: Commerce and industry minister Piyush Goyal on Thursday proposed discussions on a border adjustment tax to create a level-playing field for the steel sector, which is complaining of adverse competition from imports.
“Border adjustment tax is a WTO-compliant mechanism, which if all the industries – CII, Ficci, Assocham – everyone take out, we may be in a position to get traction and get it also into the country,” he told an industry meet.
In the past, India has maintained that the carbon border adjustment tax, proposed by the European Union and the UK, is not compliant with global trade rules.
Separately, addressing Udyog Samagam, a meeting with state industry ministers, he urged the states to put in place a “genuine rational single window” system to make it easier for investors to get approvals from govt agencies.
Goyal said that approvals to industries in states should be time bound and should be easy. “We are experimenting with a system whereby people should not need to come to govt offices for approvals and compliances,” he was quoted as saying in an official statement. He said the Centre and the states can work together in all sectors and push towards greater employment opportunities.
“Border adjustment tax is a WTO-compliant mechanism, which if all the industries – CII, Ficci, Assocham – everyone take out, we may be in a position to get traction and get it also into the country,” he told an industry meet.
In the past, India has maintained that the carbon border adjustment tax, proposed by the European Union and the UK, is not compliant with global trade rules.
Separately, addressing Udyog Samagam, a meeting with state industry ministers, he urged the states to put in place a “genuine rational single window” system to make it easier for investors to get approvals from govt agencies.
Goyal said that approvals to industries in states should be time bound and should be easy. “We are experimenting with a system whereby people should not need to come to govt offices for approvals and compliances,” he was quoted as saying in an official statement. He said the Centre and the states can work together in all sectors and push towards greater employment opportunities.
