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Posted at: Nov 15, 2017, 12:39 AM; last updated: Nov 15, 2017, 12:39 AM (IST)

Economic reforms to eliminate poverty, says Prez Kovind

Economic reforms to eliminate poverty, says Prez Kovind
President Ram Nath Kovind with Minister for Commerce and Industry Suresh Prabhu during the inauguration of the 37th India International Trade Fair in New Delhi on Tuesday. Tribune photo: Manas Ranjan Bhui

Tribune News Service

New Delhi, November 14

The focus of the country’s economic reforms and policies is to eliminate poverty and enhance the prosperity of millions of ordinary families, said President Ram Nath Kovind while inaugurating the 37th India International Trade Fair (IITF)-2017.

He said the trade must help common people. They are the ultimate stakeholders. The government’s key initiatives — such as Make in India, Digital India, Start-up India, Stand-up India, Skill India, Smart Cities, and the resolve to double farmers’ incomes – are all an attempt to make economic reforms more meaningful to those at the grassroots.

He said IITF was more than just a trade fair or exhibition. Commencing every year on November 14, it is a showcase of India on the global stage. It is also a symbol of India’s ancient and enduring commitment to international trade.

He said, “Instinctively we have been an open society – free to trade winds and cultural exchanges. We have valued a liberal, rules-based international trading order. This is a part of our DNA. And this is the legacy that modern India and IITF are building on.”

The President said this year’s IITF takes place at a point when India is recognised as one of the bright spots of the global economy. The world has acknowledged the changed business environment in India and the strides made in ease of doing business. He said the introduction of the GST had been a milestone. It has broken down barriers between the states. It has provided a boost to the creation of a common market and a more formal economy and a stronger manufacturing sector. As a result of these efforts, there has been a sharp rise in FDI in the past three years – from $36 billion in 2013-14 to $60 billion in 2016-17.

The President said 3,000 exhibitors, including 222 companies from abroad, are participating at the IITF 2017.

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