India’s Supreme Court ruled that India had no jurisdction over Vodafones purchase of Hutchison Essar mobile from Hutchison Whampoa, after a 4-year battle. The government was claiming £3bn in tax revenue.
On the face of it, India lost. But analysts say this has reassured international business that India is, once again, a safe place to invest in. Together with the current low market value many global companies may take the opportunity to re-evaluate their options in India.
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