New Delhi, January 17
Prime Minister Narendra Modi told a gathering of world business and political leaders that now is the best time to invest in India.
Stressing that in the economic field, India is progressing with encouraging results, he said in a special online address at the World Economic Forum on Monday that a strong democracy like India brings the world a “beautiful gift”.
The gift, he said, was “a bouquet of hope” even as India battled a new wave of the Covid pandemic with appropriate circumspection and caution.
“There was a time,” Modi said, “when India was recognized for its raj license. But the current government understands the difficulties faced by business and has constantly tried to remove all those challenges.”
“Today, the ease of doing business has increased, government interference has decreased, and corporate tax rates have been reduced to make it more competitive in the world. These sweeping economic reforms are another big reason for which India is the most attractive destination,” he said.
“Just as expatriate Indians flaunt their skills on the world stage, the youth in India are ready to take your businesses to new heights,” the prime minister said while listing insurance, defence, banking, space like sectors that have been deregulated and where overseas. companies need to invest.
The Prime Minister gave a detailed overview of the reforms so far, such as reducing 25,000 compliance-related standards, removing retrospective taxation and generally restoring industry confidence. The geospatial mapping space has been deregulated and outdated regulations removed in the IT and BPO space. India is committed to becoming a trusted partner in the global supply chain, he added.
The Prime Minister’s speech last year at the WEF came at a bad time when he said that ‘India is one of the most successful countries in saving lives’ and that India ‘is a country who saved humanity from a great catastrophe by saving its citizens from the pandemic”. ‘. The devastating second wave hit soon after.
This time, he said, “in times of distress, we have seen how India’s ‘One Earth, One World’ vision has helped many countries with much-needed medicines and vaccines, saving lives. million lives. “Today, India is the third largest pharmaceutical producer in the world and is one of the countries whose medical professionals and doctors, through their empathy and expertise, earn the trust of all,” he said. he declares.
— Narendra Modi (@narendramodi) January 17, 2022
#Covid #Davos #growth #Modi #WEF #worldeconomicforum
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