Now Is A Golden Time To Do Business With India: PM Modi At Bloomberg Global Business Forum

Prime Minister Narendra Modi delivered a keynoted address at the Bloomberg Global Business Forum (GBF) in New York during his recent visit to the United States to attend the United Nations General Assembly (UNGA).

PM Modi started his speech by saying that Indian government respects the business world and wealth creation. (Image: ANI)

New York: Prime Minister Narendra Modi on Wednesday delivered a keynoted address at the Bloomberg Global Business Forum (GBF) in New York during his recent visit to the United States to attend the United Nations General Assembly (UNGA). PM Modi was invited by Bloomberg LP and Bloomberg Philanthropies Founder and former mayor of New York City, Michael R Bloomberg to address the forum. Addressing the gathering, PM Modi started his speech by saying that Indian government respects the business world and wealth creation. "This summit has given me a chance to speak of India's opportunities, possibilities, growth story," he said. Modi said that the people of India have bestowed him and his party with a stronger mandate looking at the work they did over the past five years. “You talk about business sentiment. In this election 130 crore Indians delivered a judgment that development is their only requirement,” prime minister said. "Today, there is a government in India that is working towards improving the business environment in the country," PM modi said further adding that India's decision to cut corporate tax has sent a positive message. Further in his speech, PM Modi also hailed government's recent decision to cut corporate tax. "Today, there is a government in India that is working towards improving the business environment in the country. India's decision to cut corporate tax has sent a positive message," he said. 

10 में से 7 Indicators - Political stability, Currency stability, High quality products, Anti-corruption, Low cost of production, Strategic location और respect for IPR, में भारत नंबर वन रहा है। बाकी Indicators में भी ऊपर की जगह पर है।: PM

— PMO India (@PMOIndia) September 25, 2019

Further inviting global business professionals to India, PM Modi said that if you want to invest in a market where there is scale, come to India. "If you want to invest in one of the largest infrastructure ecosystem and urbanisation, then come to India, he said.

करीब 90 Percent FDI Automatic Route से हुआ है और 40 Percent ग्रीनफील्ड Investment है। यानि आज Investor का भारत पर भरोसा बढ़ा है और वो लंबे समय के लिए आ रहा है।: PM

— PMO India (@PMOIndia) September 25, 2019

Prime Minister also thanked the organisers of the BGF for giving him a chance to speak of India's opportunities, possibilities, growth story. PM Modi also lauded the investments made by his government. "Such a huge investment has been made by our government towards infrastructure development and it was ever done before. Almost Rs 100 lakh crore will be spent on advanced infrastructure in the coming years," he said.

We have opened our defence sector like never before. If you want to Make in India, for India and for the world, come to India: PM

— PMO India (@PMOIndia) September 25, 2019

"Now in the coming years, India is going to invest 1.3 trillion dollars in modern infrastructure. Also, lakhs of crores of rupees are being spent on social infrastructure of the country, he added. PM Modi also said thatThe 4 factors that makes India reliable for investors and makes India unique are-Democracy, Demography, Demand and Decisiveness. "We have scrapped 50 old laws that were creating hindrances in the path of development. This is just the beginning, there's more to come. Our people are defeating poverty, moving up the economic ladder," PM said adding that from food to movies to transport, startups are acing in the country resulting in an infrastructural expansion at a fast pace. Pitching for a $5 trillion economy by 2024, PM Modi said that when he came to power, India's economy was about $2 trillion. "We have added 1 trillion. We are determined to reach $5 trillion," he said. He also added that when it comes to global unicorns, India stands at third position, after the US and China. "Our government has stressed on building seamless, inclusive and transparent systems," says PM Modi. "While earlier there used to be a tangle of taxes, now there is one GST," PM Modi said while concluding his key note address.