Need to have enabling eco-system to attract investment: PM

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Narendra Modi inaugurated the Rising Global Investors Meet 2019 in Himachal Pradesh

New Delhi (NVI): Prime Minister Narendra Modi on November 7, called to have an enabling eco-system for investors to invest in the states, where it is free of Inspector Raj and the need of permits at every stage.

While inaugurating the Rising Global Investors Meet 2019 at Dharamshala in Himachal Pradesh, Modi said, “Nowadays the states are competing to provide such an enabling ecosystem to the investors”.

He said over the past few years, several reforms such as ease of doing business, scrapping of obsolete laws were undertaken in this direction. Adding that healthy competition among states would enhance the competitiveness of industries on the global platform and would benefit the states, local population and country at large, an official statement said.

The PM said that vehicle of development in India is moving ahead with a new thinking and new approach, on “four Wheels of – “Society, Government which is encouraging New India, an Industry which is daring, and Knowledge with a motive of sharing”.

Stating that India has improved 79 places in Ease of Doing Business Rankings, he said, “Every year we are improving in each parameter. Improvement in these rankings means that our Government is making decisions after a thorough understanding of the needs at the grass roots level for the industry”.

“This is not just an improvement in rankings but a major revolution in the way of doing business in India. In today’s global scenario, India is standing strong as we did not allow our economic fundamentals to become weak”, he added.

The PM said industry is now provided with a proper exit route through robust Insolvency & Bankruptcy code.

He requested industry and global representatives to view India as one of the most favourable destination for investment.

-sb