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In New York, PM Modi makes a strong pitch for businesses to invest in India
The Prime Minister described the move to reduce corporate tax as a “revolutionary step” which had been received with great enthusiasm by the business community.
Prime Minister Narendra Modi made a strong pitch for global businesses to come and invest in India and promised to personally act as a bridge to fill any gaps in the path of making India an ideal investment destination.
Speaking at the Global Business Forum in New York on Wednesday, he also enlisted the areas where investment could be made while highlighting the steps taken by his government to create a business friendly environment.
“Your prudent method and our pragmatic mind can write new stories in management; your rational ways and our human values can show the path which the world is looking for. And if there is any gap anywhere; I will personally act as a bridge,” The Prime Minister said to a gathering of business leaders in New York.
The prime minister said India had shored up its ranking on seven of the ten indicators and was quickly modernizing its cities which could prove ideal for foreign businesses looking to set shop in India.
“India has topped in seven out of the ten indicators: Political stability, currency stability, high quality products, anti-corruption, low cost of production, strategic location and respect for IPR (Intellectual Property Rights). It also ranks high in other indicators,” the Prime Minister said and added “Your desires and our dreams match perfectly; your technology and our talent can change the world; your scale and our skills can speed up global economic growth.”
PM Modi invited the global business community to partner India and said that his relatively young government had declared its intent through several pro-business decisions like the cutting of corporate tax and abolition of redundant laws that were hindering development. His government’s reelection, he added, was a “mandate for development”.
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.”
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.
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.
Before speaking at the Global Business Forum, the prime minister met the former Mayor of New York City, Michael Bloomberg in New York.
