Ajay Kanwal, CEO Asean and South Asia at Standard Chartered Bank, visited India as part of the Singapore business forum along with Singapore Prime Minister Lee Hsien Loong, was seated along with media personnel and shared some positive notes about the upcoming taxation reform GST in India along with future planning of the bank in the country.
Talking about the India’s favourability, Mr. Kanwal was very optimistic and equally supported internal and external reasons for this. He was also seen praising Prime Minister Modi for his initiatives and efforts in the country. Giving a clean law and regulation flow there is now a supportive environment created for business units. While the growing GDP as of now 7.5 per cent is also a bright figure to be considered.
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Focusing on the GST purview, the chief officer said that, “GST, bankruptcy code are not small tinkerings. They are big changes. The key will be implementation.” While everything looks promising, the head of Asean and South Asia, Standard Chartered Bank has assured that there is an upcoming investment in India amounting to USD 100 million in coming five years of time.
