India’s Prime Minister Narendra Modi while addressing the annual “Invest India” conference said that the country has provided medicine to around 150 countries so far while adding that during the March-June period, agricultural exports rose by 23 per cent despite the lockdown.
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“In the post-COVID-19 world, you will often hear of various kinds of problems including manufacturing, supply chains issue, PPE, however, India has not let those problems be. We showed resilience and emerged as a land of solutions,” India’s prime minister said.
“The India story is strong today and stronger tomorrow. Today, Foreign Direct Investment regime is very well liberalized,” PM Modi said, adding,”We have created a friendly tax regime for Sovereign Wealth & Pension Funds. We’ve undertaken significant reforms for developing a robust bond market.”
“India is undergoing a rapid change in mindsets as well as markets. Today, India has embarked on a journey of deregulation and decriminalisation of various offences under the companies act,” he said.
The prime minister asserted that reforms have been carried out in the labour and agricultural sector in order to ensure “greater participation of the private sector while strengthening the government’s safety nets.”
“These reforms will lead to a win-win situation for entrepreneurs as well as hard-working people,” India’s prime minister stated. PM Modi said that the reforms in labour laws have reduced the labour codes ensuring it benefits both the employer and employee to facilitate ease of doing business.
The prime minister emphasised on India-Canada bilateral ties while saying that “trade and investment linkages between us are integral to our multi-faceted relationship.”