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Looking Forward To GST: Finnish Diplomat

Tuesday, March 14, 2017
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KOLKATA: Not only domestic industry, foreign countries like Finlandtoo are awaiting the rollout of the landmark Goods and Service Tax (GST)as it would help "ease of doing business."

"We are looking forward to GST," Ambassador of Finlandin India, Nina Vaskunlahti said today at an interactive session with members of Bharat Chamber of Commerce.

"This will help remove multiple layers of taxes and state specific tax laws and we understand GST will help towards ease of doing business," she said.

She said there had been reports of inadequate number of judges in courts and added that she expected legal infrastructure would be adequate which was also important for ease of doing business.

Currently, some 100 Finnish companies are active in Indiaand the diplomat hoped this number will increase given the opportunity India offers.

In 2016, Finnish exports to India were estimated at 490 million Euros with a 10 per cent growth over previous year involving products like pulp, paper, wood, heavy machinery, telecom equipment.

Indian exports to the Nordic country during last year

was estimated at 330 million Euros with exports including textiles, pharma, raw material and plastics besides, tools and machinery.

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Source: PTI
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