India Inc looks to scale Great Wall with next-gen biz

China had put in place what it termed an ‘open door’ policy aimed at attracting foreign investment since 1980. In 2001, it further liberalised the economy by removing restrictions on foreign investments in sectors like banking and finance, accountancy and legal services. The Chinese government had also extended an equal tax treatment to all enterprises, foreign or domestic, and new concessions were introduced in high-tech areas to encourage development.

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