'Labour reforms have facilitated ease of doing business in India': PM Modi at Invest India Conference
New Delhi | Jagran News Desk: Prime Minister Narendra Modi said labour reforms undertaken by India are both employee and employer friendly and will further increase ease of doing business. Addressing the Invest India Conference in Canada, PM Modi said India has ensured reforms in the field of labour and agriculture which has ensured greater participation of the private sector while the government’s safety nets have also been stregthened. These reforms will lead to a win-win situation for entrepreneurs as well as hard-working people, he added.
The event was organised with a special focus on further strengthening business ties between India and Canada.The Prime minister also talked about government's covid response and how it has helped distressed businesses.
India has adopted a unique approach posed by the Covid-19 pandemic. We have given relief and stimulus package for the poor and the small businesses. We have also used this opportunity to undertake structural reforms. These reforms ensure more productivity and prosperity.
Speaking about the shared common interests of the two countries, PM Modi said, India-Canada bilateral ties are driven by our shared democratic values and many common interests. The trade and investment linkages between us are integral to our multi-faceted relationship.
"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 added.
Underscoring the reforms undertaken by his goverment, he said, "The India story is strong today and stronger tomorrow. Today, the FDI regime has been very well liberalized. We have created a friendly tax regime for Sovereign Wealth and Pension Funds. We have undertaken significant reforms for developing a robust Bond market."
The Prime Minister also invited investors to invest in India, he said many of them have already discovered great opportunities in a range of areas like highways, airports, logistics.
Posted By: Rakesh Kumar Jha