Modi hails sweeping reforms for India’s fast growth
AFP, New Delhi :
Prime Minister Narendra Modi said India was becoming the world’s most attractive destination for foreign investors Monday, using his annual Independence Day speech to trumpet sweeping tax reforms designed to spur growth.
In an address from Delhi’s 17th-century Red Fort, Modi sought to highlight his government’s achievements, including the recent passage of a landmark tax
reform, that have contributed to India’s robust growth during a global slowdown.
“Be it the World Bank, the IMF (International Monetary Fund), World Economic Forum or even credit rating agencies, all the institutions of the world have appreciated India’s development,” Modi said.
“Thanks to India’s continuous reforms and improvement in its laws and systems, a change in its approach — the world is watching us,” he added.
“We have improved India’s rank in ease of doing business rapidly. India has become the most favoured nation in the world for foreign direct investments. India has outpaced some of the biggest nations in the world with its growth rate, GDP (gross domestic product).”
India’s GDP expanded 7.6 percent in 2015-16, making it the fastest-growing major economy in the world and outpacing its rival China’s growth rate.
Prime Minister Narendra Modi said India was becoming the world’s most attractive destination for foreign investors Monday, using his annual Independence Day speech to trumpet sweeping tax reforms designed to spur growth.
In an address from Delhi’s 17th-century Red Fort, Modi sought to highlight his government’s achievements, including the recent passage of a landmark tax
reform, that have contributed to India’s robust growth during a global slowdown.
“Be it the World Bank, the IMF (International Monetary Fund), World Economic Forum or even credit rating agencies, all the institutions of the world have appreciated India’s development,” Modi said.
“Thanks to India’s continuous reforms and improvement in its laws and systems, a change in its approach — the world is watching us,” he added.
“We have improved India’s rank in ease of doing business rapidly. India has become the most favoured nation in the world for foreign direct investments. India has outpaced some of the biggest nations in the world with its growth rate, GDP (gross domestic product).”
India’s GDP expanded 7.6 percent in 2015-16, making it the fastest-growing major economy in the world and outpacing its rival China’s growth rate.
