At the pre-Budget virtual interaction held by Finance Minister Nirmala Sitharaman with experts from services and trade, IVCA underscored the need to recognise private capital as an important pillar for the nation’s aspiration to become a $20-trillion economy in the next 25 years. Hence, the flow of domestic capital in the total private capital market should grow at a rate which benefits the growth of AIFs in India, IVCA submitted.

Simple tax policy

It was also suggested that tax policy should be simple and easy to understand, uniform and revenue neutral.

Among the industry honchos who attended the virtual interaction include Jatin Dalal, Global CFO, Wipro Limited; A Sakthivel, President, Federation of Indian Export Organisations; Sangita Reddy, Joint MD, Apollo Hospitals Group; N Jegatheesan, President, Tamil Nadu Chamber of Commerce and Industry; Sanjay Leekha, Chairman, Council for Leather Exports; Gopal Srinivasan, Chairman, TVS Capital Fund Pvt Ltd; Saket Dalmia, President, PHDCCI; and Sabyasachi Ray, Executive Director, Gem and Jewellery Export Promotion Council.