Indian Finance Minister says that twelve global companies want to move from China to India

Mumbai, December 1 (PTI): India's finance minister Nirmala Sitharaman said on Saturday about twelve global firms are interested in shifting their base from China to India, taking advantage of the 15 percent competitive tax rate recently announced.

Base corporate tax has been reduced from 30% to 22% for existing companies and from 25% to 15% for new manufacturing companies incorporated after 1 October 2019 and beginning operations....