October 17, 2016 1:14:07 am
Prime Minister Narendra Modi on Sunday said the government has undertaken substantial reforms in the last two years to transform India into ‘one of the most open economies’ in the world with a strong growth rate. He added that the reforms have manged to streamline and simplify governance, especially in doing business.
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“As a result we have moved upwards in almost all the global indices that measure such performance and transformed our country into one of the most open economies in the world,” Modi told the BRICS Business Council. He indicated that the (economic) growth of the country was going strong and the government was taking steps to keep the momentum going.
Modi added that the BRICS Business Council Business Council was vital in linking trade, business opportunities, investments, innovation and doing away with bottlenecks among member nations. Applauding the Council for living up to its expectation of expanding trade and business, Modi credited the business council members for enhancing the ease of doing business, dismantling trade barriers, promoting skills development, establishing manufacturing supply chains and infrastructure development.
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With reference to the performance of the New Development Bank (NDB) he congratulated the management for commencing the first batch of projects. “NDB is fully operational now. We welcome the bank’s priority for (funding) clean energy and sustainable infrastructure,” he said. Modi suggested that the BRICS Business Council must work closely with the NDB for identifying and implementing prospective economic projects.
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