We have already established that value creation is different from wealth creation. So, in my experience, there are three large components that create terminal value about which the terminal value investor should have differentiated insight on and those three components are intangibles, megatrends and leadership.
India, France near deal on tax treaty, to lower levy on dividends paid to French parent companies
India and France are nearing a revised tax treaty that will reduce dividend taxes for French parent companies holding over 10% stakes to 5%, while
December 12, 2025