'India has moved away from red tape to red carpet': PM Modi at G20 Trade and Investment Minister's meeting

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Prime Minister Narendra Modi, at the G20 Trade and Investment Minister’s meeting, said that India has “moved from red tape to red carpet” and has enabled unfettered Foreign Direct Investment (FDI) inflows in the last nine years.

The meeting was held in Jaipur and was attended virtually by the prime minister.

“We have moved away from red tape to red carpet and liberalised Foreign Direct Investment flows. Initiatives like ‘Make in India’ and ‘Atma Nirbhar Bharat’ have given a boost to manufacturing. Above all, we have brought policy stability. We are committed to making India the third-largest global economy in the next few years,” PM Modi said during his address.

Hailing India’s economic growth, Modi said that it is seen as a combination of openness, opportunities and options as the world sees optimism and confidence in the Indian economy.

“This region is known for its dynamic & enterprising people. Throughout history, trade has led to an exchange of ideas, cultures & technologies. It has brought people closer. Trade & globalisation have lifted hundreds of millions out of poverty. We see global optimism & confidence in the Indian economy,” he said.

” India is seen as a combination of openness, opportunities & options. During the last nine years, India has become the fifth-largest economy which is the result of our sustained efforts,” he added.

During his address, PM Modi also called on G20 member countries to “build a resilient” and “inclusive global value chain that can withstand future shocks”.

He further said that the global uncertainties have tested the world economy and as members of the G20, it is the responsibility of the countries to rebuild confidence in international trade and investments.

With inputs from agencies



from Firstpost India Latest News https://ift.tt/LsY3GWA
FP Staff

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