Headlines
India building predictable tax regime, Modi tells German investors
Hannover, April 12
Prime Minister Narendra
Modi said on Sunday that India was building a predictable, stable and
competitive tax regime and the policies have been reformed towards more
foreign direct investment.
In his addresss at the inauguration of
Hannover Messe industrial fair, in which India is the partner country,
he said India will play its role as an anchor of stability and a force
for peace and stability in the world.
"We are building a tax
regime that is predictable, stable and competitive. We will now address
the remaining uncertainties," Modi said.
The prime minister said
that his government was creating a stable economic environment that
inspires confidence at home and abroad and German investors will find
environment in India not only open but also welcoming.
"We have
taken sweeping steps to reform our policies and open up more to foreign
direct investments...We will make it easy to do business in India...The
Goods and Services Tax is a long needed revolution that is becoming a
reality," he said.
Modi said his government had resumed long stalled projects and it was adding new momentum to the country's economy.
"Our
decision to be here in the first year of my government reflects our
priority. (We) want to accelerate economic growth and create jobs," he
said.
"India will do its part- as an anchor of economic
stability; an engine for growth and as a force of peace and stability in
the world," he added.
Modi also said India will endeavour to fuel its growth with "the cleanest and most efficient use of energy".
Earlier,
Modi was welcomed by German Chancellor Angela Merkel at the Hannover
Messe industrial fair, which is the world's largest industrial trade
fair.