New Delhi, Nov 15 (KNN) Prime Minister Narendra Modi on Monday announced that ASEAN (Association of Southeast Asian Nations)-India business and investment summit will be held in New Delhi next year in January. Prime Minister Modi is on a three day visit to Philippines to attend the 15th India-Asean Summit and the 12th East Asia Summit.

Addressing the Asean Business and Investment Summit in Manila, Prime Minister said that a conference to discuss increasing connectivity between both regions would take place next month in Delhi.

Highlighting the ongoing Trilateral Highway Project involving Myanmar and Thailand Prime Minister said that connectivity with Asean by land, sea and air remains India’s priority and negotiations are going on to conclude a maritime transport agreement with the Asean.

Prime Minister Modi also said that due to the business reforms by the government India has risen 30 places in World Bank ranking of ease of doing business. Demonetization and measures like linking of the Aadhaar number with bank accounts has formalized the India’s economy .

He added that the number of new tax payers filing income tax returns had more than doubled and India has been marching towards a cashless economy as digital transactions have increased by 34 percent. (With PIB inputs) (KNN/AG)