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India on the move: Naidu tells diaspora in Malawi

Press Trust of India  |  Lilongwe 

Praising the Indian community in for making "significant contribution" in economic activities, M Venkaiah Sunday said is on the move and global organisations like the and the IMF have also appreciated the country's economic progress.

reached here earlier in the day on the last leg of his six-day three-nation tour to Africa, which aims at deepening India's strategic cooperation with Botswana, and

"is on the move. It is not which says so but and IMF also say so," the said while addressing the Indian community here.

Not only banks but rating agency has also given good ratings to India, Naidu said, adding this is a happy for the country.

Citing the success of the introduction of Goods and Services Tax (GST) regime, Naidu said in October the GST collection crossed record Rs one lakh crore.

"That is how transformation is happening...One tax one slab throughout the country, that is the ultimate aim," he said.

India, one of the fastest growing major economies in the world, is on the course to become a 5 trillion by 2025, he said, adding that the story, as it is unfolding today, is a promising one.

Naidu quoted the World Bank's 'Doing Business 2019' report which said that India, which advanced to 77th place in the global ranking, is now the region's top-ranked "Starting a business was made easier through consolidation of multiple application forms and introduction of a Goods and Services Tax (GST)," the report stated.

Some people were sceptical of accounts and demonetisation but these moves have achieved their purpose, Naidu said.

Praising the Indian community, the said, "I am happy to note that you have made significant contribution to find a place of leadership, in the economic activities of the country. Some of you have attained positions of excellence, in your respective professions."

The Indian community enjoys a reputation of being peace-loving community and has been able to assimilate well with the locals, he added.

According to the here, there are about 8,500 Malawians of Indian origin who predominantly originated from and are concentrated in major cities like Lilongwe, Blantyre, Limbe, and

The number of Indian nationals (NRIs) in the African country at present is about 2,500. Most of them hail from Andhra Pradesh, Karnataka, Maharashtra, Telangana, Kerala, and They are primarily engaged in trading, agriculture and agro business, pharmaceutical and hospitality.

Earlier, on his arrival at the airport, Naidu was received by Malawi's Foreign Affairs and Minister Dr Emmanuel Fabian, and of India to

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 05 2018. 00:30 IST