On the face of it, expanding operations in one of the world’s fastest-growing countries should be a no-brainer, but for bearings maker Timken India, there may be easier places to do business.
Sanjay Koul, managing director, told investors last year that the Ohio-based parent company could instead look at other countries “where there is less of tax terrorism” and “where they can have ease of doing business”.
Since then, the company has been hit with an unexpected Rs250mn ($2.9mn) tax…
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