The center urges them to support the growth of the Gulf Cooperation Council countries in India, and urges them to participate in the ELI scheme

With GCCs turning into a large engine of growth and employment in the country, the government pledged on Monday to look at policies to provide them with an increase with them to participate in the newly launched incentive -based incentive scheme.

Noting that more than 1,800 US dollars are working outside India, Anwawradha Thakur, the Ministry of Economic Affairs, said that there is a need to study the state’s own policies to understand how the Gulf Cooperation Council supported.

“The Gulf Cooperation Council states are (concentrated) in certain cases. We need to know the policies that they had on the physical and digital infrastructure, and the organizational policy initiatives that helped the Gulf Cooperation Council states to grow,” she said at the Business Summit in the Gulf Cooperation Council.

In confirmation that the Gulf Cooperation Council countries contribute about 1.8 % in the total value of the country, she also said that there is a need for teamwork and benefit from it and said that they are now expanding beyond the metro in level cities 2.

Meanwhile, the Minister of Labor and Employment, Vandana Jurni Cox, urged to participate in Elie’s scheme, noting that there is a great room for employing young people and women in these.

“We can partnership with the Gulf Cooperation Council countries at the national level and the state,” she said, adding that the design of the plan and its operations are very simple. Nowadays, about 30-35 % of the workforce in the Gulf Cooperation Council in India consists of female employees.

“The youth unemployment in India decreased from 17.8 % in the period 2017-18 to 10.2 %, as it outperformed the global average of 13.3 %. The Gulf Cooperation Council countries have played a major role in this progress and bear the greater potential to push the creation of comprehensive job opportunities for the future.”

She confirms that Elis provides very fundamental benefits to employers and employees, and said that there is international experience with countries such as Singapore, Australia, Turkey and Germany also launches similar plans. She said: “Not only did the employment increase, but they increased continuous work and led to increased wages,” adding that from the perspective of the employer, the ELI scheme reduces the cost of employment.

In his speech, Sanjay Bahadur, a member of (Income Tax), at the Central Council for Direct Taxes, said that GCCS grows at a rapid pace and is preparing for strong growth throughout the five to the next ten. It contributes 2 % of GDP and employs approximately 30 million to 35 million people.

Given the complex nature of the services they provide, the transfer pricing is one of the areas where issues in the field of taxes escalate. “There is a matrix of value in addition to the products and services provided by GCCS. This is where the conversion pricing problems come.”

Baaadur noted that other issues can be a special tax treatment for the Gulf Cooperation Council sector in addition to a quick solution to conflicts with some suggestions in the pre -pricing power scheme.