In his keynote address at the third edition of Bloomberg Global Business Forum in New York, Prime Minister said his government is working towards improving the business environment in the country. He said India has cut corporate tax and has done away with 50 old laws that were detrimental for the development.
PM Modi informed the forum, India is going to invest 1.3 trillion dollars in modern infrastructure in the coming years. He said, lakhs of crores of rupees are also being spent on the social infrastructure of the country.
India is rapidly defeating poverty and moving in ladder increasing purchasing power. He said, India has opened its defence sector like never before. 90% of FDI is through automatic route.
He said, the 4 factors that make India reliable for investors and makes India unique are – Democracy, Demography, Demand and Decisiveness.
Exhorting the business leaders present there, PM said Your technology and our talent can change the world. Your scale and our skills can speed up global economic growth.
On the occasion, Prime Minister also interacted with philanthropist and Bloomberg CEO Michel Bloomberg and said challenge before India is nuclear energy. If India gets an opportunity to produce nuclear energy that will revolutionalize power needs.
Bloomberg Global Business Forum meet is an annual event organized by philanthropist Michael Bloomberg every year to share the ideas and visions of global leaders from public and private sectors on key issues.
The theme of the third edition of the annual event in 2019 is – Restoring Global Stability.