He said women entrepreneurs received over three-fourths of the Rs 4.28 lakh crore loans under the MUDRA Scheme since 2015
economy policy:Prime Minister Narendra Modi on Tuesday invited global entrepreneurs to invest and make in India.
“To my entrepreneur friends from across the globe, I would like to say, come, make in India, invest in India, for India and for the world. I invite each one of you to become a partner in India's growth story. And once again assure you of our wholehearted support," he said, inaugurating the Global Entrepreneur Summit (GES) here.
The keynote was given by Ivanka Trump, advisor to US President Donald Trump, who is leading a US delegation to the summit. The event, being hosted by the governments of India and the US, is focused on women entrepreneurship; more than half of the 1,500 participants from 150 countries are women.
Listing the several initiatives of his government such as Startup India, the goods and services tax (GST), actions on black money and on bankruptcy and insolvency, he said his government has taken several steps to improve the business environment, leading to a jump in the country’s World Bank’s ease of doing business ranking (to 100 from 130 earlier) and improvement in the country’s ratings by Moody’s. He said the government was not satisfied and would strive to improve further to the fiftieth rank on the World Bank rating. “Our StartUp India programme is a comprehensive action plan to foster entrepreneurship and promote innovation. It aims to minimise the regulatory burden and provide support to start-ups. Over 1,200 redundant laws have been scrapped, 87 rules for FDI have been eased in 21 sectors, and several government processes have been taken online,” Modi claimed.
The PM said an environment of transparent policies and a rule of law providing a level-playing field was necessary for entrepreneurship to flourish. “A historic overhaul of the taxation system has been recently undertaken, bringing in the GST. Our Insolvency and Bankruptcy Code is a step towards ensuring timely resolution for stressed ventures. We have recently improved this by preventing wilful defaulters from bidding for stressed assets,” he said, after inaugurating the eighth edition of the GES and the first one to be held in any South Asian country.
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