In his address to the 14th India-France CEOs Forum in Paris, PM Modi invited French businesses to deepen their partnership with India
He highlighted the series of economic reforms introduced in the recent budget, emphasising their potential to boost investments and enhance the ease of doing business
The Prime Minister underscored India's progressive approach toward attracting foreign investment, stating that the government had opened the insurance sector to 100 per cent Foreign Direct Investment (FDI). These steps, he said, would help India move towards cleaner and more efficient energy solutions
"The insurance sector was now open for 100 per cent FDI and civil nuclear energy sector for private participation with focus on SMR and AMR technologies; customs rate structure was rationalized; and simplified income tax code was being brought in to enhance Ease of Living" PM Modi said
The Prime Minister Modi further elaborated on the government's efforts to simplify and streamline economic policies
He also mentioned that the customs rate structure had been rationalized to facilitate trade and that a new, simplified income tax code was being introduced to enhance the ease of living for citizens
He reaffirmed the government's commitment to continuing reforms, noting the establishment of a high-level committee for regulatory reforms aimed at promoting trust-based economic governance
Highlighting the government's pro-business stance, PM Modi pointed out that over 40,000 compliances had been rationalized in recent years to make India a more business-friendly destination
"To facilitate international trade, "India Trade Net" is being introduced with the help of digital public infrastructure. We are bringing a new simplified income tax code towards Ease of Living," he said
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