Indian govt taking concrete steps for cutting red tape: Jaitley
Delivering the keynote address at the Make in India Conference in Sydney, Finance Minister Arun Jaitley stressed on the need for manufacturing growth to ensure employment for youth of the country.
Sydney: Delivering the keynote address at the Make in India Conference in Sydney, Finance Minister Arun Jaitley stressed on the need for manufacturing growth to ensure employment for youth of the country.
Jaitley inaugurated and addressed the '"Make in India Conference - Collaboration for Growth with Mutual Benefit'' in Sydney.
Jaitley highlighted the various steps undertaken by the Indian Government to facilitate ease of doing business and create an investor friendly climate in the country as part of the 'Make in India' initiative and he also stressed on the need for manufacturing growth to ensure employment for youth of the country.
Jaitley further mentioned that the Government has taken concrete steps for cutting red tape, simplifying rules and procedures including delicensing the business environment among others.
He said that the Government is working towards making tax regime transparent, stable and predictable.
Asserting that Make in India has become the biggest global brand which India has ever created, he said that India has become one of the fastest growing large economies in the world and that India has been ranked as the most attractive investment destination by several global agencies and institutions.
Jaitley mentioned about various FDI reforms undertaken recently by the present Government for attracting foreign investment in particularly in sectors such as Railways, Defence, Services and Manufacturing.
He said that the National Investment and Infrastructure Fund (NIIF) has been set-up which will be professionally managed and mainly invest in commercially viable infrastructure projects.
Among other speakers at the '"Make in India'' Conference included Mr Andrew Robb, Special Envoy for Trade, Australia, Navdeep Suri, High Commissioner of India to Australia, Jonathan O'Dea MP, Parliamentary Secretary for major Events and Tourism, Government of New South Wales(NSW), Kalpana Awasthi, Joint Secretary, DIPP and Sumit Mazumder, President, CII.
The event was jointly organised by Department of Industrial Policy and Planning (DIPP), Ministry of Commerce and Industry, Government of India; Consulate General of India(CGI), Sydney and Confederation of Indian Industry(CII) and was supported by Austrade. The event was attended among others by a large number of representatives of Australian and Indian businesses.
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