You are here

India exports hampered by delay of billions in tax refunds

More 10,000 workers have to be let go as companies run short on operating capital and lose revenues

New Delhi

INDIA'S exporters are a worried lot.

Four months after India's biggest tax overhaul, traders are still waiting for 500 billion rupees (S$10 billion) they say the government owes them in refunds, leaving them short of operating capital as overseas sales suffer.


Market voices on: