GES 2017: PM invites global entrepreneurs to invest in India
Hard selling his government’s reforms, Prime Minister Narendra Modi on Tuesday invited global entrepreneurs to come to India saying that […]
Sarabjit Kaur November 29, 2017
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Hard selling his government’s reforms, Prime Minister Narendra Modi on Tuesday invited global entrepreneurs to come to India saying that it provides an investment friendly environment where restrictions have been removed and archaic laws abolished. Speaking at Global Entrepreneur Summit 2017 in Hyderabad, he said over 1,200 outdated laws have been scrapped, 87 rules for foreign investment eased in 21 sectors and several government processes have been taken online. “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 world,” he said. “I invite each one of you to become a partner in India’s growth story. And once again assure you of our wholehearted support.” Ivanka Trump, US President Donald Trump’s daughter and advisor to the White House, is leading a US delegation to the summit and gave the keynote address. Stating that an investment-friendly environment needs to be stable from the macro-economic perspective, Modi said his government has succeeded in containing the fiscal and current account deficits as well as curbing inflation. “Our foreign reserves have crossed USD 400 billion, and we continue to attract large foreign capital flows,” he said. To young entrepreneur friends from India, he said: “Each of you has something valuable to contribute towards creating a New India by 2022. You are vehicles of change and instruments of India’s transformation.” Listing out business friendly measures the government has undertaken, Modi said loans worth Rs 4.28 trillion (Rs 4.28 lakh crore) have been sanctioned under the entrepreneurship loan scheme, MUDRA.