Speaking at the World Economic Forum’s Davos Agenda 2022 summit PM Narendra Modi highlighted different measures taken by the Government such as the tax reforms, ease of compliance, reduction in corporate tax rates and said this is “the best time” to invest in the country.
Invest in India
Inviting the world to invest in India, Modi said: “Today, India has the third-largest number of unicorns in the world. More than 10,000 start-ups have been registered in the last six months. India is promoting Ease of Doing Business, minimising government intervention. India has made it the most competitive in the world by simplifying, reducing its corporate tax rates. In the last year alone, we have reduced more than 25,000 compliances. The spirit of entrepreneurship, which has the capacity to adopt new technology in Indians, can give new energy to each of our global partners. That’s why this is the best time to invest in India.”
PM Narendra Modi also emphasized the importance of collective decision-making among nations for issues concerning global stability such as climate change, inflation, supply chain disruptions, cryptocurrency. PM also called for a discussion on the role of multilateral agencies in such decision-making.
“The challenges we have been facing are also increasing. To counter these, there is a need for collective and synchronised action by every country, every global agency. These supply chain disruptions, inflation and climate change are examples of these. Another example is cryptocurrency. The kind of technology that is associated with it, the decisions taken by a single country will be insufficient to deal with its challenges. We have to have a similar mindset,” he said.
“But looking at the global scenario today, the question is whether multilateral organisations are ready to deal with the new world order and new challenges, is that potential left? When these institutions were formed, the situation was different. Today, the circumstances are different. Therefore, it is the responsibility of every democratic country to emphasise reforms in these institutions so that they can be enabled to meet the challenges of the present and future,” the PM added.
With respect to India, the Prime Minister said policymaking is focussed on needs for the following 25 years for a “Clean and green” just as “sustainable & reliable” development.
The PM also highlighted the actions taken to tackle the pandemic & lauded the efforts of the country in vaccinating its people & sharing its resources to the world.
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