PM highlights India's attractiveness as a favored global investment destination

Prime Minister Narendra Modi has noted the expanding India-France business and economic collaboration and the impetus it has provided to the strategic partnership between the two countries. He highlighted India's attractiveness as a favored global investment destination, based on its stable polity and predictable policy ecosystem. Talking of the reforms announced in the recent budget, PM noted that the insurance sector was now open for 100% 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. Referring to the government's commitment to continue ushering in reforms, he noted that a high-level committee for regulatory reforms had been constituted to establish trust based economic governance. In the same spirit, more than 40,000 compliances had been rationalized in the last few years.

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