Is The Vodafone Judgement A Signal India Is Ready To Play Ball? - Page 2
Despite the moral aspect of the case, arising out of the fact that the case related to taxing a deal between two foreign multinationals which operated and generated the capital gain over operations in the Indian soil, and previous judgement by the lower courts and by itself against Vodafone, the Supreme Court has chosen to arrest the damage to the reputation of India as a safe destination for foreign capital.
Can this be taken as a sign that doing business in India is entirely safe for foreign companies? The truth is that India, which has only seen a series of set backs to its growth in the past year and faced with huge budget deficit, has no choice but to aggressively attract foreign capital.
For the political movements which prefer to drive looking in the rear mirror, like that of Prakash Karat, it is time to stop over and consult their road maps like the political redefining of ideology he has recently published.
For the Indian leadership which in fact realised that this is only way out, from the days when India went nearly bankrupt from its socialist agenda of four decades, in the late nineties, it is a matter of continuing the reforms it has initiated and taking the fast lane to progress.