Indian Prime Minister Narendra Modi on Wednesday called the global businesses to start their large scale industry in India, saying a significant decrease in corporate tax rates by his government creates a golden opportunity and promised more trials to get a better business climate.
Communicating at the Bloomberg Global Business environment here, the Prime Minister said India displays a golden opportunity to set up business in the country. He was in communication with former New York Mayor and industrialist Michael Bloomberg.
“If you want to spend in a marketplace where there is large scale, come to India… If you want to spend in start-ups with a huge market, then come to India…If you want to spend in one of the world’s major infrastructure ecosystem, come to India,” Modi told global business companies in the US.
previously this month, the government had decreased the efficient commercial tax rate to 25.17% from nearly 35%, thus bringing India at par with most important global economies on the taxation front.
Modi additionally told the congregation, comprising 50 heads of state and 200 CEOs, that India is quickly modernizing its cities and equipping them with the newest technology and citizen-responsive infrastructure. “Thus if you want to spend in urbanization, come to India,” he said.
Indian Prime Minister also said India has also uncovered its defense industry “like never earlier” and explored reserves in the sector.