The Biden govt in the US may be looking to negotiate a global corporate tax treaty with the world, to ensure that all corporations get some minimum taxation. I suppose India might like this, since our taxation needs will always be greater than more developed countries. At the same time, it would eliminate tax havens present in various countries around the world.
But why is the Biden govt seeking something so unprecedented? It's because the US Democratic Party are literally in a fight for their political lives, and they're willing to throw away American sovereignty to cede taxation powers to a foreign consensus body, in order to keep their party alive. US Democrat politics requires more social welfare spending to keep their poorer voting classes happy. This in turn requires heavier taxation of businesses, which would likely send corporates fleeing abroad to where they can be taxed less (India would probably not be one of those places.) So by negotiating a treaty with the rest of the world to ensure that corporates everywhere face some minimum tax rate wherever they go, it will help to reduce corporations in the US from fleeing abroad.
This could cause a widespread tax revolt among smaller businesses, since they're the ones who really have to pay corporate taxes (the larger corporations usually have to pay nothing at all, due to better accounting tricks.)
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