In New York, PM Modi makes a strong pitch for businesses to invest in India
INDIA - Prime Minister Narendra Modi has made a strong pitch for global businesses to invest in India during his keynote address at Bloomberg Global Business Forum in New York on Wednesday and said that his relatively young government had declared its intent through several probusiness decisions like the cutting of corporate tax and abolition of redundant laws that were hindering development.
The Prime said that his government’s reelection was a mandate for development and invited the global business community to partner India. Describing the move to reduce corporate tax as a “revolutionary step” which had been received with great enthusiasm by the business community, the Prime Minister said, “I want to remind you that our new government is only three to four months old. I want to tell you that this is only the beginning; we have a long way to go. This is a golden opportunity for the global businesses to partner India on this journey.”
Prime Minister said he had received excellent feedback from the business leaders he met over his government’s decision to reduce the corporate tax. “You may be aware that a few days ago, we decided to drastically cut down the corporate tax. This is a revolutionary step to boost investment and everyone in the business world I have met has described it as historic,” Modi said.
Addressing the question of the business sentiment in India, Prime minister said that the mandate for his government was for development. “You people often talk about business sentiment, in this election, not only did 130 crore Indians express their sentiment but they also gave their judgment that development is their biggest priority,” the Prime Minister said while assuring the gathering of more business friendly measures from his government.
Before speaking at the Global Business Forum, the prime minister met the former Mayor of New York City, Michael Bloomberg in New York. Highlighting the advantages of doing business in India, the prime minister said India not only offered economy of “scale” and one of the largest “infrastructure ecosystem” but it also had a government that was working towards improving the business environment in the country.
(Hindustan Times)