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Why The India’s Biggest Energy Sector Investor Slammed Indian Taxation Policy?

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Rosneft, the biggest foreign investor in India’s energy sector said, India needs to modernise its taxation policy with international regime and not double tax foreign investors.

 

Why The India’s Biggest Energy Sector Investor Slammed Indian Taxation Policy?
Why The India’s Biggest Energy Sector Investor Slammed Indian Taxation Policy?

Russian integrated energy company Rosneft recently slammed India’s taxation policy, stating it was a key barrier in its expansion plans.

The biggest foreign investor in India’s energy sector said, country needs to modernise its taxation system with international regime and not double tax foreign investors.

Rosneft and its partners finalised the $12.9-billion acquisition of India-based Essar oil in August last year and renamed the company Nayara Energy.

Rosneft is the third largest corporation of Russia and the second-largest state-controlled company after Gazprom in Russia in terms of revenue (₽4,134 billion).

Globally, Rosneft is one of the largest oil companies, standing at 24th position in terms of revenue generation.

Rosneft operates in more than twenty countries around the globe.