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18/01/2022 04:09pm

PM Modi presses on startups and Ease of Doing Business in his address at WEF Davos agenda

image PM Modi presses on startups and Ease of Doing Business in his address at WEF Davos agenda

New Delhi, 18 Jan (KNN) The Prime Minister, Narendra Modi delivered a special address at the World Economic Forum’s Davos Agenda yesterday virtually.

Emphasising on the impressive numbers of software engineers from the country, he stated that more than 50 lakh software developers are working in India. 

He informed that India has third largest number of unicorns today. More than 10 thousand start-ups have registered during the last six months. 

He also talked about the India’s huge, safe and successful digital payments platform and informed that in the last month itself more than 4.4 billion transections took place through Unified Payments Interface. 

The Prime Minister talked about the measures of enhancing Ease of Doing Business and reduction of the government interference. 

He mentioned simplification of corporate tax rates and making them the most competitive in the world. India has deregulated areas like Drones, Space, Geo-spatial mapping and has brought reforms in the outdated telecom regulation related with the IT and BPO sectors. “We did away with more than 25 thousand compliances in the year gone by”, he added.

Indicating India’s growing attractiveness as a partner, the Prime Minister said that India is committed to become world’s  reliable partner in global supply-chains and is making way for free trade agreements with many countries. 

India’s capabilities in innovation, technology adaptation and entrepreneurship spirit makes India an ideal global partner. “This why, this is the best time to invest in India”, he said.   

He mentioned Indian Youth achieving  new height of entrepreneurship. He said that as compared to mere 100 start-ups in 2014, India has more than 60 thousand start-ups today. Out of which 80 are unicorns and more than 40 unicorns emerged in 2021 itself.

Underlining India’s confident approach, the Prime Minister highlighted that when the world was focussing on interventions like quantitative easing during the Corona period, India was strengthening the reforms. 

He listed strides in physical and digital infrastructure like optical fibre in 6 lakh villages, 1.3 trillion dollars investment in connectivity related infrastructure, goal of generation of 80 billion dollars through asset monetization and Gatishakti National Master Plan to bring all the stakeholder on the single platform to infuse new dynamism to the seamless connectivity of goods, people and services. 

PM Modi told the forum that not only India is focussing on easing the processes in its quest for self-reliance, it is also incentivizing investment and production. 

Most clear manifestation of that is 26 billion dollar worth of Production Linked Incentive schemes in 14 sectors, he said. 

He stressed that India is making policies keeping in mind the goals of next 25 years. In this time period, the country has kept the goals of high growth and saturation of welfare and wellness. 

This period of growth will be green, clean, sustainable as well as reliable, the Prime Minister emphasized.

He asked whether the multilateral organizations are in a position to tackle the challenges of the world order in a changed scenario, as the world has changed from the time when these organization came into being. 

“That is why it is imperative that every democratic nation should push for reforms of these bodies so that they can come up to the task dealing with the challenges of the present and the future”, he concluded.

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