Prime Minister Narendra Modi on Thursday said India has undertaken a trinity of reforms in the education, labour and agriculture and together they will impact almost every Indian.
The Prime Minister was delivering the keynote address at the Annual Invest India Conference organised with a special focus on strengthening business ties between India and Canada.
Inviting Canadian investors, the PM emphasised that India has undertaken structural reforms aiming to improve productivity and prosperity, and is also going through a rapid change in mindset and markets. “India has embarked on a journey of de-regulation and decriminalisation of various offences under the Companies Act. India has risen from 142 to 63 in the World Bank’s ranking of ease of doing business ratings in the last five years,” said the PM.
He emphasised that reforms in labour laws greatly reduced the number of labour codes, which favours both — the employee and the employer. The PM said there is an opportunity to grow, as during the Covid-19, there were various kinds of problems. However India has shown resilience and emerged as a land of resolution. He insisted that the FDI regime has been liberalised and a favourable regime created for sovereign wealth and pension funds.
PM Modi said reforms in education will enable foreign universities to come to the country. He added: “We are proactively monetising assets across sectors: airports, railways, highways, power transmission lines.”
He added that India is playing the role of pharmacy to the world, as it provided medicines to around 150 countries so far amid the ongoing Covid-19 pandemic. PM said: “India-Canada bilateral ties are driven by our shared democratic values and many common interests.”