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US welcome passage of GST bill

US welcome the passage of GST saying it would benefits the bilateral trade with India

Policy Pulse
Publish Date: Aug 9 2016 10:33AM | Updated Date: Aug 9 2016 10:34AM

US welcome passage of GST bill

The United State welcomes the passage of Goods and Services Tax (GST) bill, saying it would benefits the bilateral trade and investment partnership with India. State department spokesperson Elizabeth Trudeau said that welcome the passage of the bill.

 

“It has many far-reaching benefits for the Indian economy and our bilateral trade and investment partnership with India. It will also provide greater efficiencies and predictability in its tax regime,” Trudeau said.

 

The US Ambassador to India Richard Verma also congratulated the Prime Minister and Parliament on passage of the GST bill. “It is an important reform and boost to growth in India”, he said via tweet.

 

"Passing the Goods & Services Tax bill is one of the biggest tax reforms ever in India," said Puneet Manchanda, NRI and a Professor of marketing at the Ross School of Business at University of Michigan. "It has the potential to accelerate the economy's growth significantly," he said.

 

The enactment of the GST in India heralds one of the most significant post-Independence reforms making doing business in India easier and facilitating the easier flow of goods and services across states," said another Indian, working and residing in US.

 

"Passage of the GST bill is a huge boost to Prime Minister Narendra Modi's credibility as a reformer and as a manager of Parliament. Introduction of the GST will likely prove to be a solid boost to the economy," said Richard M Rossow, the Wadhwani Chair in US-India Policy Studies.