Xiamen: Prime Minister Narendra Modi on Monday said the Goods and Services Tax (GST) is India’s biggest economic reform ever, while addressing BRICS Business Council in Xiamen of China on Monday.
“It is India’s biggest economic reform measure ever; in one stroke, a unified market of 1.3 billion people has been created,” he said.
Other schemes such as digital India, Start-Up India and Make in India are also changing the economic platform of India, he added as per a report by Deccan Chronicle.
“Digital India, Start Up India and Make in India are assisting India to turn into a knowledge based, skill supported and tech driven society,” he said.
He also said that he was happy to note that BRICS Business Council was entering into an MOU with the New Development Bank.
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“India is changing fast into one of the most open economies in the world today; FDI inflows are at an all-time high, rising by 40 per cent,” he added.
PM Modi also appreciated BRICS Business Council work towards the establishment of BRICS Rating Agency, energy cooperation, green finance and digital economy.
“We count on the BRICS Business Council to take us closer to our common objective of improving business and investment cooperation,” the Prime Minister said, concluding his speech.