India has now become one of the most favourable destinations for investment: PM Modi

Prime Minister Narendra Modi has said India has now become one of the most favourable destinations for investment.

Addressing the Global Investors' Meet, 2019 in Dharmshala, Himachal Pradesh on Thursday, he said between 2014 and 2019, India improved 79 places in the global Ease of During Business Rankings. Mr. Modi said every year, India is improving in each parameter. 

Improvement in these rankings means that the government is making decisions after a thorough understanding of the needs at the grass-roots level for the industry.

The Prime Minister said this is not just improvement in rankings but a major revolution in the way of doing business in India. He said in today's global scenario, India is standing strong as we did not allow our economic fundamentals to be weak. 

Mr. Modi said, over the past few years, several reforms such as scrapping of obsolete laws and



providing enabling eco-system for investors have been taken by the government. He added that doing away with Inspector Raj and the need of permits in every state is important.

The Prime Minister said, nowadays, the States are competing with each other to provide an enabling eco-system to investors. He said, a healthy competition among States would enhance competitiveness of our industry on the global platform. 

Mr. Modi said, today, the vehicle of development in India is moving ahead with a new thinking and a new approach.

The Prime Minister appreciated Himachal Pradesh government's efforts to undertake several landmark initiatives for creating an investor-friendly environment.

 

Over 1,700 business delegates, including 200 International delegates participated in the Global Investors' Meet. UAE is the partner Country.