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Nokia threatens to ‘quit’ India: Report
Posted: 23-Aug-2013 [Source: The Times of India]

[Nokia threatens to exit India in response to a $311M tax dispute.]

New Delhi -- "Finnish telecom giant Nokia has told India's government that the country is now its "least favourable market" to operate in and it makes better sense to export its products from China, a report said Friday.

Nokia, which is fighting a 20-billion rupee ($311 million) tax demand from Indian authorities, urged the government to "act quickly to correct the wrong perception of India as a place for business", The Indian Express newspaper reported.

"The political risk of operating in India" has become "suddenly substantially higher and may inevitably influence future decisions to develop one's operations in India", Nokia said in a letter quoted by the daily."

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