Economics

Tax Cut Gives Modi Perfect Pitch to Win American Investments

$20 billion India tax cuts to showcase ease of doing business
India competing with Asian peers for trade war spoils

Narendra Modi.
Photographer: Andrey Rudakov/Bloomberg

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By Archana Chaudhary and Vrishti Beniwal

September 21, 2019 at 4:07 AM UTC

Updated on

September 22, 2019 at 9:30 AM UTC

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Prime Minister Narendra Modi arrived in the U.S. a day after delivering a $20 billion tax-cut stimulus for companies, which strengthens his pitch to American chief executives about the ease of doing business in India.

His government on Friday cut corporate taxes to rival some of the lowest in Asia, helping India compete with the likes of Vietnam and Indonesia to attract investments. Modi met energy company CEOs in Houston and spoke about the benefits of working together.