in the news
O’Melveny’s Makarechian Quoted in Bloomberg Businessweek on Impact of India’s Tax Cuts on Foreign InvestmentApril 02, 2012
O’Melveny & Myers LLP partner David Makarechian was quoted in the March 21, 2012 Bloomberg Businessweek article, “Mukherjee Seen Reviving Bond Sales With Tax Cuts: India Credit.” The article reports that India’s recent decision to cut taxes on interest income to international investors may cause overseas borrowing by Indian companies to rebound from a two-year low.
“These are efforts aimed at stimulating the borrowings of infrastructure companies,” said Makarechian, who is a member of O’Melveny’s India-focused practice team in Singapore as well as the Firm's Capital Markets and Mergers and Acquisitions Practice Groups. “Foreign investors are, and have been, willing to invest in India even at higher rates but there have been too many barriers.”