It is a great time to invest in India: Prime Minister Narendra Modi

Prime Minister Narendra Modi said the Goods and Services Tax (GST) is expected to be implemneted by the year 2017.

It is a great time to invest in India: Prime Minister Narendra Modi
The PM was addressing Asian Business Leaders' Conclave 2016 in Malaysia on Wednesday through video conferencing. (ANI)

Prime Minister Narendra Modi participated in the Economic Times Asian Business Leaders Conclave held in Kuala Lumpur on Wednesday via video conferencing. He jointly inaugurated the conclave with his Malaysian counterpart Najib Razak followed by addressing the delegates participated in the event.

Speaking on the occasion, PM Modi spoke about strong India-Malaysia ties and focused on how 21st century is Asia’s century. He emphasised that from making business easier, eliminating corruption and reducing regulatory overburden, India is on a path of economic transformation and thus it is a time to make investment in the country. “India is buzzing with entrepreneurial activity. Startups are the next big economic force here. Thus, it is a great time for investing in India,” he said.

Referring to the demonetisation move taken by the government to combat fake currency, corruption, black money along with shifting Indian economy to cashless, PM Modi said that “cleaning the system from black money and corruption is very high on my agenda. We are working tirelessly towards it.”

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He further mentioned the Goods and Services Tax (GST) and said it is expected to be implemented by the year 2017. Earlier on the day, Home Minister Rajnath Singh had said that government was facing ‘some problems’ in introducing the GST from April 1, 2017 asserting that those issues will be ‘solved’.

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First published on: 14-12-2016 at 13:56 IST