India is a growing economy, government has fix the target to make it 5 Trillion economy by 2024, which is seem very difficult target and BEPS makes it more difficult because in the current and past practices company has done the business in India but shifted the profit in the tax heaven countries, (BEPS means shifting profit to low tax countries from higher tax country).
This practice is the main cause of the lots of slow economy growth of the India after 1990 liberalization & globalization and the billion of rupees in the foreign banks.
If India really want to improve from the roots and achieve the target of the 5 Trillion Economy then India need to make few but revolutionise changes in their system tax System and FEMA (Foreign Exchange Management Act) because government need to give space to Indian company to become the global companies with less legal compliances and freely transfer of money.
India is having a so much legal compliance and restrictions for the International business which is most of the time is a killing process for the small and medium enterprises, and medium and small are the back bone of the country because of the largest service provider of the country with the highest tax payer in proportion of the turnover, I strongly believe that if government bring changes in FEMA and stop the BEPS Practice of the bigger company then may be India will become a 5 Trillion Economy in 2024.