India is the ideal investment destination in the world, says PM

Prime Minister Narendra Modi inaugurated Uttarakhand's first investors summit on Sunday, saying India is the ideal investment destination in the world with major social and economic changes sweeping the country.

Addressing the country's top business leaders and industrial houses at 'Destination Uttarakhand: Investors Summit 2018', Modi said the country was passing through an era of unprecedented social and economic changes at present and expressed confidence that in the coming decades India will become the engine of world economic growth.

"Fiscal deficit has come down, the rate of inflation has come down. The middle class is growing and the country is full of demographic dividend.

"In the past 4 years, the state and central governments together have taken over 10,000 measures, which have helped the country improve its position in the ease of doing business rankings by 42 points," Modi said, describing the current times as the best for investors in the country.

GST is the biggest tax reform in the country post independence which has turned the country into a single market, he said.

Highlighting rapid growth in the infrastructure sector, the prime minister said 10,000 km highways have been built, which is double in comparison with what was done by earlier governments.

(Agencies)