India to Double Tax Holiday in Finance Hub to Boost Business (2)

India will extend a tax holiday at its international finance hub to boost the appeal for businesses setting up shop there.

The government proposed doubling the tax holiday to 20 consecutive years out of 25 years at the Gujarat International Finance Tec-City, or GIFT City, according to documents released on Sunday as part of India’s annual budget presentation.

The move will ease concerns of large banks and asset managers who have been worried about the expiry of the benefit. It’s likely to aid the government’s effort to attract foreign capital to the country’s sole international financial services center, or IFSC, ...