Narendra Modi said Presently, cleaning the system from black money and corruption is very high on my agenda

New Delhi: Presently, cleaning the system from black money and corruption is very high on my agenda, Prime Minister Narendra Modi said on Wednesday.

Speaking via video conference at Asian Business Leaders Conclave 2016 in Kuala Lumpur, Modi said that India is currently witnessing an economic transformation.

“The outcomes of our efforts are visible from India’s global rankings on various indicators,” PM Modi said.

India is not only a good destination. It’s always a good decision to be in India.

This is a time for integration…at the level of economy also, we are among the most open and integrated economies.

There is immense focus on removing the logistics constraints. Roads, railways, ports are being upgraded across the country.

Building futuristic infrastructure is the biggest task at our hand. We are developing a pentagon of industrial corridors across India.

Our economic process is being geared towards activities which are vital for generating employment or self-employment opportunities.

Start-ups are the next big economic force in India and are no less than a revolution.

India is currently buzzing with entrepreneurial activity like never before.

We have adopted a comprehensive National Intellectual Property Rights policy to lay the future roadmap for intellectual property.

We have launched Single Window Interfaces for registering a business, export-import clearances and Labour compliance.

Our licensing regime has been rationalised greatly.

We are now moving towards a digital and cashless economy.

The constitutional amendment for Goods and Services Tax (GST) has been passed. This is expected to be implemented in 2017.

Our efforts to ensure ease of doing business in India have been comprehensive and wide ranging, including legislative and structural.

We have now become the 6th largest manufacturing country in the world.

‘Make in India’ which celebrated 2nd anniversary this year, is aimed at making India a global hub for manufacturing, design & innovation.

The positive change in policy, regulatory and investment environment in India is recognized by both domestic and foreign investors.

Total FDI inflows in the last two and a half years have touched US Dollars 130 billion.

Our concerted efforts on major FDI policy reforms continue and conditions for investments have been simplified.

We have opened up new sectors for FDI and enhanced caps for existing sectors.

Bureau Report