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Vibrant Gujarat: India now ready for business as never before, says PM Modi

News Agencies | Updated on: 18 January 2019, 15:24 IST
Narendra Modi

India is now ready for business as never before, Prime Minister Narendra Modi said here on Friday as he listed a host of initiatives taken by his government for attracting investments and improving ease of doing business.

Addressing the 9th edition of Vibrant Gujarat Program, the Prime Minister highlighted that India has moved up Global Ranking of World Bank's Doing Business Report by 65 places and the country is in its best form as far as business is confirmed. The Prime Minister also informed that he has asked his team to work harder so that India is in the top 50 next year.

"Major financial institutions like the World Bank and IMF have expressed confidence in India's economic journey. We are focused on removing the barriers which were preventing us from achieving our full potential," he added.

Further elucidating on financial development in the country, he said, "Those who visit India regularly would have felt a change in the air. The change is both in terms of direction and intensity. Over the last four years, the focus of my government has been to reduce government and enhance governance."

"We have also made Doing Business cheaper. The historic implementation of GST and other measures of simplification of taxes have reduced transaction costs and made processes efficient," he added, highlighting the benefit from the implementation of the GST.

Vibrant Gujarat Summit was conceptualised in 2003 by the Prime Minister, who was then the Chief Minister of Gujarat, with an aim to re-establish Gujarat as a preferred investment destination within India.


First published: 18 January 2019, 15:24 IST