Navigating the Indian Budget 2024: Implications for Foreign Businesses

The webinar, "Navigating the Indian Budget 2024: Implications for Foreign Businesses," organized by Nexdigm, offered valuable insights into how the latest Union Budget impacts foreign companies operating in India.

The presentation focused on decoding the implications of the budget for foreign businesses, with a sharp lens on economic priorities, sector-specific allocations, and regulatory changes. Emphasis was placed on how business leaders can interpret the government's focus on key themes like employment and skilling, MSMEs, and middle-class support, alongside India's strong economic indicators, including a real GDP growth rate of 8.2% for FY23-24.

The budget's impact on corporate tax rates for foreign companies, the abolition of the Equalization Levy for e-commerce operators, and changes to Angel Tax provisions were key discussion points. Amendments to the Capital Gains Tax Regime and Transfer Pricing provisions were also highlighted.

Nexdigm’s speakers highlighted opportunities emerging from these fiscal changes and encouraged stakeholders to look beyond numbers and align business strategy with the evolving fiscal vision of the government. The session also covered other key changes, including the Vivad Se Vishwas Scheme 2024 for dispute resolution, rationalizing domestic withholding tax rates, and revised timelines for revenue audits. By translating policy announcements into actionable business insights, Nexdigm reinforced its position as a trusted partner for forward-looking organizations aiming to navigate change with confidence.