India’s Prime Minister Modi recently attended the celebrations that marked 50-year of the Aditya Birla group in Bangkok this week. While addressing that gathering, he has invited global companies, industrialists and businesses to come and invest in India. Emphasising on innovations and start-ups, he said that the international companies and businesses would be received with open arms in the country.
The Prime Minister also mentioned that India has enhanced its ranking by moving up the ladder in the World Bank’s Ease of Doing Business. Now, the time is very suitable for company formation in India. He said that India is now going after the aim of becoming a five-trillion dollar economy by the year 2024. Mr. Modi also pointed that India’s GDP was approximately 2-trillion dollars when the government led by him took over in the year 2014; however, in just 5 years, it has now reached much higher at 3 trillion dollars.
The Indian Prime Minister also said that his government has done some noteworthy work in various fields, one being in taxation. In today’s times in India, the impact and support of painstaking taxpayers is treasured. He said that India is now one of the most people-friendly tax regimes and is dedicated to improving it further. He also mentioned that his government has worked hard to end the middleman culture and incompetence by bringing in Direct Benefit Transfer (DBT) system.
Mr. Modi also said that India is giving specific focus on improving connectivity with Thailand and all other Association of Southeast Asian Nations (ASEAN) countries as per its Act East Policy.
He anticipated that the direct connectivity between the ports of Thailand’s West coast and India’s East coast will enhance their economic partnership. He also said that his government’s steps and initiatives like ‘Swacch Bharat Mission’ (Clean India Campaign) and Smart City programme provide wonderful opportunities for improving this partnership.
While addressing the event, Kumar Mangalam Birla, the Chairman of the Aditya Birla Group, also said that India’s Prime Minister Modi has improved the country’s stature throughout the world. He said Mr. Modi has started various welfare schemes and now India is the third-largest nation globally in the start-up ecosystem after the US and China.
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