PM Modi was speaking after chairing a meeting 'Reflections on Ease of Doing Business' with top industrialists and policy makers to brainstorm on measures required to realise his vision of breaking into the top 50 club.
The Prime Minister also launched the 'Ease of Doing Business Grand Challenge', which seeks to invite innovative ideas from individuals, startups or other enterprises to implement AI, Big Data Analytics, Internet of Things (IOT), Blockchain and other cutting edge technologies for re-engineering related government processes.
The details of the challenge can be found on www.startupindia.gov.in.
Speaking at the event, the PM said, "Before 2014, people had witnessed a policy paralysis. For them, it was impossible to believe that India can earn a rank in the global top 100. But within 4 years, we have all seen a 180-degree change. We are at 77 rank from 142 rank in ‘Ease of Doing Business’. It’s a record for the country."
"We are just a few steps away from breaking into the top 50 in the rankings. India has improved on 8 out of 10 markers," he said. He added that efforts are on to develop the ranking system at the district level.
Listing various measures taken by his government, such as insolvency code, GST, note ban, economic offenders bill, Modi said that the government has successfully managed to crack down on corruption and improve tax filing in the country.
"From changing the laws to putting it all into practice, all these decisions were not easy to take. Yet, we managed to implement these reforms in a short span of time," PM Modi said.
PM Modi added that India is now racing up in the world order. "Our country is on a path of reform and improvement. Global institutions such as the IMF and World Bank have acknowledged India's rise," he said.
"As per the analysis of Moody & World Economic Forum, the position of India has either gone up or is rising. Now our efforts are to take India to the 5 trillion dollar club. To achieve this, we have to improve in all the sectors of the economy," the Prime Minister said.
Union finance minister Arun Jaitley, who also spoke at the meeting, asserted that after all the processes set in motion by the government, there is a definite reason to believe that India can now crack into the top 50.
Industrialists like Anand Mahindra and Rakesh Bharti Mittal as well as top representatives from industry chambers CII, Ficci and Assocham, among others, shared their inputs and feedback for the roadmap required to move ahead in that direction.
Union ministers Suresh Prabhu, Harsh Vardhan and Hardeep Singh Puri also attended the event.
The meeting was organised by the Department of Industrial Policy and Promotion as the government gears up for India's ranking to leapfrog on the 'Doing Business' index next year and boost the country's investment attractiveness.
India's rank rose 23 places to the 77th spot in the 'Doing Business' rankings released on October 31.
The surge in India's ranking came as a shot in the arm for the Narendra Modi-led government ahead of the general elections next year.
(With inputs from agencies)
from Times of India https://ift.tt/2Kgunih
