BRICS summit:Modi says GST biggest reform in India

Prime Minister Narendra Modi on Monday pitched for more expanding business cooperation between member countries at the BRICS Business Council Summit in Xiamen, China, while mentioning that the Goods and Services Tax (GST) is India's biggest economic reform.

The Prime Minister said that India was changing fast into one of the most open economies in the world with FDI inflows at an all-time high, rising by 40%.

Prime Minister said, "The Goods and Services Tax is India's biggest economic reform ever. In one stroke, a unified market of 1.3 billion people has been created. "

"Programs like digital India, make in India and start-up India are changing the economic landscape of the country know; There are assisting India turn into a knowledge base ,skill supported and technology driven society" PM Modi added.

Assuring support to BRICS business council, Prime Minister said, "Many productive recommendations have come out of your deliberations, BRICS rating agency , energy cooperation green finance and digital economy particularly is noteworthy. Let me conclude by saying that our government will offer full support to your endeavour and we also count on the BRICS business council to take us closer to our common objective of improving business and investment cooperation."

"I am happy to note that business council also have matching of priorities of trade and facilitation, promoting skills development, infrastructure development, e-commerce, SME development, and digital economy," Prime Minister Modi said .

Leaders applauded both the institutions he BRICS Business council and the New Development Bank that will contribute more for strengthening the cooperation and development of five countries.

The Business Council has carried out lot of work in areas of E- commerce, sill development, experience sharing on development economy which have produced good results.