The total FDI inflows received in the last one year was the highest ever for India, said PM Modi while addressing the investors attending the Vibrant Gujarat Summit in Gandhinagar. He also said that the ‘Make in India’ initiative has turned into the biggest brand of the country.
Various countries are bringing FDI to India, which has been routed to diversified sectors in the last two years. India is now one of the top ten countries in terms of FDI inflow and it is the leading recipient of investment in the Asia-Pacific region, said media reports quoting the Prime Minister.
India is also providing higher returns on investment compared to other countries, according to Modi. The liberalisation of the FDI regime by the government in various sectors has led India to become an open economy.
Modi also said that his top priority is to attract business and create a business environment to open up new avenues for the country’s youth.
A higher emphasis has also been placed on ease of doing business in India. Important steps have been taken by the government to ease the licensing process and rationalise the procedures related to inspections, returns and clearances. In order to offer good governance, the government is monitoring the implementation of multiple action points in various sectors to improve the regulatory framework, added Modi.
The policies and practices have a positive impact and the government is working on rationalising them further in order to ensure further establishment and growth of businesses, said the PM. (KD)
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