PM Modi Said – India Is The Best Country In Terms Of Investment
PM Modi said – India is the best country in terms of investment, far-reaching reforms have been done in the economic sector. On Thursday, Prime Minister Narendra Modi invited the world’s investors and said that India is the best place for investment in the world today. PM Modi said that the kind of trust that companies want for investment and compatibility in policies is available in India.
Modi, while addressing the US-India Strategic Partnership Forum through video conferencing, mentioned the steps taken by his government towards reforms and opportunities in various sectors including coal, mining, railways. He stressed that India is a strong democratic and diverse country and far-reaching reforms have been made in recent months.
The five-day conference of the forum began on 31 August. Its theme is ‘New challenges facing America-India’. The Prime Minister said that India is the most favorable country for investment. He said, “The epidemic has shown the world that the decision to develop a global supply chain should not be taken only on the basis of cost. They should also be based on trust. Companies are now considering reliability and policy stability in addition to geographical area strengths. “
He said, “India is a place where all these characteristics are there.” He said, “Looking at these, India is emerging as one of the most favorable destinations for foreign investment.” is. We have received $ 20 billion of foreign investment flows this year. “
He said that FDI in India has increased by 20 percent in 2019, also when global FDI has fallen by one percent and it shows the success of our FDI system. The Prime Minister said that his government has made far-reaching reforms to ease business and reduce red tape. He said, “The road ahead for us is full of opportunities.”
He also mentioned reforms in the agriculture sector as well as production related incentive schemes launched for the mobile and electronics, medical devices, pharma sectors. Referring to reforms in the tax system, the Prime Minister said, “India offers a transparent and credible tax regime.” Our system encourages and supports honest taxpayers. Our GST is an integrated, fully IT enabled indirect tax regime. “
“The Insolvency and Bankruptcy Code has reduced the risk to the entire financial system. Our comprehensive labor reforms will reduce compliance burden for employers. It will also provide social security to the workers. “
