Predictable Tax and FDI Regimes are Making India a Prefered Investment Destination for Global Investors: PM Modi

Outlining economic reforms in India and marketing the country as a favourable destination to global investors, Prime Minister Narendra Modi on Thursday said that India has now has predictable tax and FDI regimes.

Addressing the World Economic Forum's Davos Dialogue, he said that the government is also working on the front of ease of doing business.

He was of the view that though hit by the pandemic, things will change in the economic front too and "India is now moving ahead with the aim to become 'Atmanirbhar' (self-reliant)".

Reiterating the government's stand, Modi also said that the vision of 'Atmanirbhar Bharat' is aimed at making India a major hub of global supply chain.

He said that India's success on the economic and industrial front will support global good and enhance the global supply chain. He also assured the global fraternity that India has the capacity and capability to boost the global supply chain.

Citing the reform measures taken up by the government, the Prime Minister, however gave a miss to the recent farm laws, termed as major reforms by the government. The recent laws and amendments in the farm sector bills have been highly controversial and led to massive protests by farmers in the national capital.

Modi told global leaders and investors that 'Industry 4.0' would be a major support for the government's vision of making the country self-reliant. He was of the view that connectivity, automation, artificial intelligence/machine learning (AI/ML), and real time data are key for 'Industry 4.0'.

The Prime Minister also spoke India's vaccination drive and said that in 12 days, around 2.3 million frontline healthcare workers have been vaccinated and in total 30 million healthcare workers will be covered under the first phase.

Emphasising India's significance in terms data, he said that India is among the countries with the highest amount of data.