Through GST India can create a single largest market globally with 1.25 bn customers: Prabhu
Updated: May 12, 2015 05:07:35pm
New Delhi, May 12 (KNN) Seeking cooperation from other political parties on goods and services tax (GST), Railways Minister Suresh Prabhu today said the comprehensive indirect tax reform will make India single largest market in the world.
"I think one good step which the government has taken is to get GST done but that is only a part of the story. I think the other part I hope my other friends in other parties and others will cooperate so that we can create a single largest Indian market which will be 1.25 billion customers," he said while addressing at an event organized by FICCI in the national capital.
A large market which will be rivalling other markets of the world and therefore India should implement GST, he said.
Prabhu said the Indian industry must prepare itself to take advantage from global mega-trade agreements.
"We must prepare domestically to change our own markets and our own systems, own procedures to take advantage of this emerging opportunities," he added.
"China is the single largest country which has benefited the most from the WTO. It has become the largest exporter in the world and as a consequence the biggest producer," he said. (KNN Bureau)
"I think one good step which the government has taken is to get GST done but that is only a part of the story. I think the other part I hope my other friends in other parties and others will cooperate so that we can create a single largest Indian market which will be 1.25 billion customers," he said while addressing at an event organized by FICCI in the national capital.
A large market which will be rivalling other markets of the world and therefore India should implement GST, he said.
Prabhu said the Indian industry must prepare itself to take advantage from global mega-trade agreements.
"We must prepare domestically to change our own markets and our own systems, own procedures to take advantage of this emerging opportunities," he added.
"China is the single largest country which has benefited the most from the WTO. It has become the largest exporter in the world and as a consequence the biggest producer," he said. (KNN Bureau)
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