While the council’s logic for multiple slabs may run counter to the philosophy of a good GST, it was necessary to get the project off the ground. Its future structure should absolutely avoid the temptation of arbitrary rate fixation.
Foreign firms are the growth engine for Vietnam’s high-technology exports, which reached 27% as a percentage of its total manufactured exports in 2014.
Once initial glitches in GST implementation are smoothed over, it is likely that only inefficient firms will find themselves in trouble.
Analysts have viewed the OBOR more as a strategic dominance ploy than an economic cooperation agenda, but that doesn’t mean Indian industry has nothing to gain.
While manufacturing emerged as the largest employer outside the agricultural sector in 2005-2013, livestock farming employed double the amount of workers during the same period.