Perhaps, the most significant change of this era is the re-emergence of China and India.
The world’s two most populous nations are undergoing economic and social transformation on a scale and at a speed that is unmatched in history.
China’s success over the past three decades has changed the character of the global economy.
India is now the next frontier of the economic revolution.
We have the demography for it. About 800 million people in India are below the age of 35 years. Their aspirations, energy, enterprise and skills will be the force for India’s economic transformation.
We now have the political mandate and the will to make it happen.
Over the past year, we have moved with a clear and coherent vision. And, we have acted with speed, resolve and boldness to implement it.
We have taken sweeping steps to reform our policies and open up more to foreign direct investments. This includes new areas like insurance, construction, defence and railways.
We are eliminating unnecessary regulations and simplifying our procedures. We are using digital technology to eliminate multiple approvals and endless wait.
We are building a tax regime that is predictable, stable and competitive, and that will integrate the Indian market.
We are scaling up investments in next generation infrastructure – roads, ports, railways, airports, telecom, digital networks and clean energy.
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