Prime Minister Modi delivered inaugural address to the ninth edition of biennial Vibrant Gujarat Global Investors Summit and stated that India is now ready for business as never before. He said that we have jumped 65 places in the Global Ranking of World Bank’s Doing Business Report in the last 4 years. He also stated the he has asked his team to work harder so that India is in the top 50 next year.
The Prime Minister claimed that doing business in India has become cheaper and faster through GST and other tax reforms as well as through digital processes and single point interfaces. He said that from the start of business to its operation and closure, attention has been paid in building new institutions, processes and procedures. At 7.3%, the average GDP growth over the entire term of our Government has been the highest for any Indian Government since 1991 while the average rate of inflation at 4.6% is the lowest for any Indian Government since 1991. He said: “We have worked hard to promote manufacturing to create jobs for our youth. Investments through our ‘Make in India’ initiative, have been well supported by programmes like ‘Digital India’ and ‘Skill India’”.
Dealing upon the challenges facing India, Modi said that in India the challenge is to grow horizontally to spread benefits of development to regions & communities that have lagged behind & vertically, enhanced expectations in terms of quality of life & quality of infrastructure need to be met.
Speaking earlier, Mukesh Ambani, Chairman & Managing Director, Reliance Industries Limited stated that India’s data must be controlled and owned by Indian people and not by corporate, especially global corporations to succeed in this data driven revolution.He also urged the Prime Minister to make this “one of the principal goals” of his Digital India mission.
