PM invites global investors to India

Hard selling government’s reforms, PM Narendra Modi on Tuesday invited international entrepreneurs to come to India saying that it provides an investment friendly environment wherever restrictions are removed and archaic laws abolished.

Speaking at global entrepreneur Summit 2017, he told that over 1,200 outdated laws are scrapped, 87 rules for foreign investment eased in 21 sectors and several government processes have been taken on-line.

“To my entrepreneur friends from across the globe, I would like to say, ‘Come, make in India, Invest in India’, for India and for the planet,” he said. “I invite every one of you to become a partner in India’s growth story. And once again assure you of our wholehearted support.”

Ivanka Trump, USA President Donald Trump’s Daughter and advisor to the White House, is leading a USA delegation to the summit and gave the keynote address.

Presenting that an investment-friendly environment needs to be stable from the macro-economic perspective, Modi told that his government has succeeded in containing the fiscal and current account deficits as well as curb inflation. Our foreign reserves have crossed USD 400 billion, and we still attract large foreign capital flows.

To young entrepreneur friends from India, he said: “Each of you has something valuable to contribute towards creating a new India by 2022. You’re vehicles of change and instruments of India’s transformation.”

Listing out business friendly measures the govt has undertaken, Modi aforementioned loans value Rs 4.28 trillion are sanctioned beneath the entrepreneurship loan theme, MUDRA.

Under the ‘Atal Innovation Mission’, Tinkering Labs are being opened in more than 900 schools to promote a culture of innovation and entrepreneurship among kids, he said.

After taking electricity to most villages, a brand new theme, ‘Saubhagya’ can offer electricity association to any or all the unelectrified families by Gregorian calendar month 2018, he said, adding that a programme to supply high-speed broadband web to any or all rural areas by March 2019 has additionally been launched.

“We are acting on developing a national gas grid. A comprehensive national agency policy is additionally within the pipeline,” he said.

The Prime Minister aforesaid the taxation system has been overhauled with the launch of GST, whereas the insolvency and Bankruptcy Code has been introduced to confirm timely resolution for stressed ventures. “We have recently strong these further, preventing wilful defaulters from bidding for stressed assets,” he said. “Tough measures are adopted to tackle the parallel economy, check tax evasion and control black cash.”

He said that the government understands that an environment of transparent policies and a rule of law providing a level enjoying field are necessary for entrepreneurship to flourish.  PM Modi mentioned that Aadhaar is the world’s largest biometric based mostly digital database, covers over 1.15 billion individuals and digitally authenticates over 40 million transactions daily.

We now digitally offer financial advantages of various government schemes to the beneficiaries through Direct benefit Transfer using Aadhaar. On monetary inclusion, he mentioned almost three hundred million bank accounts with deposits of over Rs 685 billion have been opened through the Jan Dhan Yojna. “This brings previously un-banked sections of society into the formal financial system. Of these, 53 per cent accounts are ladies.”

He said that we are steady working towards a less money economy and have launched a Unified Payment Interface App called BHIM. In less than a year, this platform is facilitating almost 280,000 transactions daily. India has been an incubator for innovations and entrepreneurship over the ages.

He Stated that the govt’s Start-Up India programme is a comprehensive action plan to foster entrepreneurship and promote innovation, he mentioned that the scheme aims to minimise the regulatory burden and provide support to startups.

Content Credit:- DJPUNJAB.COM

Leave a Reply

Your email address will not be published. Required fields are marked *