At the Bloomberg Global Business Forum todfay, India’s Prime Minister Narendra Modi invited the global business community to invest in India and stated that their technology and India’s talent can together change the world; their scale combined with India’s skill-set can accelerate global economic growth. He asked CEOs to “come to India” as his government seeks to build a $5 trillion economy by 2025.
His address to chief executives at a summit in New York comes less than a week after India delivered a $20-billion tax-cut stimulus. The cut in corporate tax rates puts India on par with some of the lowest in Asia to help the south Asian nation compete with the likes of Vietnam and Indonesia for investments
The Prime Minister said that India’s growth story was built on four pillars, namely Democracy, Demography, Demand and Decisiveness. Modihighlighted global recognition of the successful reforms introduced by his government: the ten rank jump in the Logistics Performance Index, the thirteen point jump in the Global Competitiveness Index, the twenty four rank rise in Global Innovation Index; along side the sixty five rank improvement in the Ease of Doing Business index calculated by the World Bank.
He also pointed to the Bloomberg National Brand Tracker 2018 survey that ranked India as the top performing Asian economy in attracting global investment. In 7 out of 10 indicators of this report:political stability, currency stability, high quality products, anti-corruption, low cost of production, strategic location and respect for intellectual property, India has been ranked at the top.
