Friday 30 March 2012
Vodafone tax law unbelievable
The world's largest investment bank, on Thursday said it was "unbelievable" that India could introduce a tax law with retrospective effect.
Interacting with the who's who of India Inc at a luncheon meet in Mumbai, Blankfein said the Budget proposal to introduce a tax on offshore transactions - which would affect the Vodafone-Hutchison deal among others - could spook investors. Blankfein's is the most serious voice yet to oppose a proposal that has met with widespread criticism.
The board of Lloyd Blankfein-led Goldman Sachs was in Mumbai for its first-ever annual meeting in India.
Present at the Goldman Sachs luncheon meeting in Mumbai were Tata Group chairman-designate Cyrus Mistry, businessmen Prashant Ruia and Adi Godrej, bank CEOs Chanda Kochhar of ICICI and Shikha Sharma of Axis, and Infosys chairman K V Kamath.
After the meeting, board members met industry leaders for a sense of the economy. Speaking on the situation in the US, Blankfein said a recovery was underway; the Fed and government would need to focus on ensuring that the recovery was sustainable.
Interacting with the who's who of India Inc at a luncheon meet in Mumbai, Blankfein said the Budget proposal to introduce a tax on offshore transactions - which would affect the Vodafone-Hutchison deal among others - could spook investors. Blankfein's is the most serious voice yet to oppose a proposal that has met with widespread criticism.
The board of Lloyd Blankfein-led Goldman Sachs was in Mumbai for its first-ever annual meeting in India.
Present at the Goldman Sachs luncheon meeting in Mumbai were Tata Group chairman-designate Cyrus Mistry, businessmen Prashant Ruia and Adi Godrej, bank CEOs Chanda Kochhar of ICICI and Shikha Sharma of Axis, and Infosys chairman K V Kamath.
After the meeting, board members met industry leaders for a sense of the economy. Speaking on the situation in the US, Blankfein said a recovery was underway; the Fed and government would need to focus on ensuring that the recovery was sustainable.
