UAE – Mubasher: The UAE has reached an agreement with Indian authorities to grant federal and local sovereign investment institutions in the UAE tax exemptions in the infrastructure sector in India.
This move is part of several investment incentives revealed by the Indian government to draw more foreign sovereign investments to India’s top priority sectors, according to a statement on Thursday.
“These exemptions are part of the UAE’s unrelenting efforts to further improve economic relations with countries around the world. The move also reflects the success of the recent negotiations between the joint venture teams from the UAE and India,” undersecretary of the UAE’s Ministry of Finance, Younis Haji Al Khoori, commented.
The new rule, which will be effective as of 1 April 2021, will apply to investments made no later than 31 March 2024 as long as these investments are maintained for at least three years.
The Indian government may grant tax exemptions to investments in other sectors in the future.
