India one of most open economies, says PM Narendra Modi : The Tribune India

Join Whatsapp Channel

India one of most open economies, says PM Narendra Modi

NEW DELHI: Pitching for foreign investments, Prime Minister Narendra Modi on Tuesday said India is one of the most open economies in the world and is ready to do business with the world.

India one of most open economies, says PM Narendra Modi

Narendra Modi at the summit. Tribune photo: Manas Ranjan Bhui



New Delhi, February 27

Pitching for foreign investments, Prime Minister Narendra Modi on Tuesday said India is one of the most open economies in the world and is ready to do business with the world.

Speaking at the India-Korea Business Summit, he said his government had worked towards creating a stable business environment and removed arbitrariness in decision-making.

“We seek positivity in day-to-day transactions. We are widening areas of trust rather than digging into doubts. This represents a complete change of the government’s mindset,” he said.

(Follow The Tribune on Facebook; and Twitter @thetribunechd)

India, he said, is already the third-largest economy in terms of purchasing power. “Very soon, we will become the world’s fifth-largest economy by nominal GDP. We are also the fastest-growing major economy of the world today,” he said.

“We are also a country with one of the largest start-up eco-systems,” he added.

Stating that the government is on a de-regulation and de-licensing drive, Modi said validity period of industrial licences had been increased from three years to 15 and more.

“If you see around the globe, there are very few countries where you have three important factors of economy together. They are: democracy, demography and demand. In India, we have all the three together,” he said.

To the Korean businessmen, he said India is now ready for business and promised to do whatever is required to “promote and protect” their investment. PTI

Top News

Jailed gangster-politician Mukhtar Ansari dies of cardiac arrest

Jailed gangster-politician Mukhtar Ansari dies of cardiac arrest

Ansari was hospitalised after he complained of abdominal pai...

Delhi High Court dismisses PIL to remove Arvind Kejriwal from CM post after arrest

Delhi High Court dismisses PIL to remove Arvind Kejriwal from CM post after arrest

The bench refuses to comment on merits of the issue, saying ...

Arvind Kejriwal to be produced before Delhi court today as 6-day ED custody ends

Excise policy case: Delhi court extends ED custody of Chief Minister Arvind Kejriwal till April 1

In his submissions, Kejriwal said, ‘I am named by 4 witnesse...

‘Unwarranted, unacceptable’: India on US remarks on Delhi CM Arvind Kejriwal’s arrest

‘Unwarranted, unacceptable’: India on US remarks on Delhi CM Arvind Kejriwal’s arrest

MEA spokesperson says India is proud of its independent and ...

Gujarat court sentences former IPS officer Sanjiv Bhatt to 20 years in jail in 1996 drug case

Gujarat court sentences former IPS officer Sanjiv Bhatt to 20 years in jail in 1996 drug case

Bhatt, who was sacked from the force in 2015, is already beh...


Cities

View All