'Apple's move to relocate supply to India will help investors': FM

Just after corporate tax rate cut and Sensex hike in country, Finance Minister Nirmala Sitharaman on Sunday urged that any move by United States electronic giant - Apple to move some of ir manufacturing to India will be a great signal to several or foreign companies to move some manufacturing from China to India. government on Friday slashed corporate tax rate for companies to 25.17% and even a lower rate to 17.01%, as a move to boost ecomic rate.

'A calculated risk': FM Sitharaman 

According to FM, moving some of manufacturing of supply is a 'calculated risk'. or country is offering a 15 per cent rate in South East Asia, she said. investors h earlier pointed out high corporate tax rates, however, after anuncements to slash corporate tax to a lower rate, re is issue left. Pointing out English speaking population in India, FM Sitharaman said that it would be easier for foreign companies to relocate supply from China. 

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Sensex hike

Bombay Stock Exchange (BSE) Sensex closed on Friday at an unprecedented 5.32 per cent high at 38,014.62 points, as Finance Minister Nirmala Sitharaman me ar big anuncement in order to boost ecomy. 30-shared index 2,284.55 points to a peak of 38,378.02 points. Sensex went up by 1921.15 points. government h earlier anunced Rs 1.45 lakh crore tax benefit on reduction in corporate tax.  corporate tax rate has come down to  25.17% from 29.5% for companies that do t seek exemptions, and 15% for startups and new manufacturing units. 

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