GST implementation will be a case study, says Modi.

The Prime Minister, Narendra Modi, has told American businesses of advantage India with a young population and a rising middle class which are among factors generating global interest in the Indian economy, especially in areas such as manufacturing, trade and commerce, and people to people contacts.

Modi, who met 20 top American Chief Executive Officers in Washington DC on 25 June, said the world is focused on India’s economy and his government’s focus is on improvement in quality of life of the people of India.

The Prime Minister said this requires global partnership, and assured that his government is working on principles such as “Minimum Government, Maximum Governance”.

He told the CEOs that the government has initiated 7,000 reforms which indicates India’s quest for global benchmarks.

He stressed on the Government’s emphasis on efficiency, transparency, growth and benefit for all.

The Goods and Services Tax (GST) implementation from 1 July 2017 shows India can take big decisions and implement them swiftly.

The GST implementation is a complex task that may well be the subject of future case-studies, said Modi, who is visiting Washington.

Modi also sought enhanced attention from the CEOs in areas such as women empowerment, renewable energy, startups and innovation.

He suggested linking sanitary practices, products and technologies with the requirements of school going girls. He reiterated that his primary interest is improving the quality of life in India.

He also assured that if America becomes stronger, India will be a natural beneficiary, and India believes that a strong America is good for the world.

Responding to Modi’s roundtable meeting, the CEOs appreciated the Prime Minister for his policy initiatives and the work done in recent times towards ease of doing business.

Initiatives such as Digital India, Make in India, Skill Development, Demonetization and the thrust towards renewable energy came in for much appreciation from a number of CEOs.

Several CEOs showed their willingness to be partners in skill development and education initiatives.

They also mentioned social initiatives being undertaken by their companies in India, in spheres such as women empowerment, digital technology, education and food processing.

The Modi-CEO meeting also discussed infrastructure, defence manufacturing and energy security.

Speaking separately to Indian diaspora in Washington, Modi highlighted the role of technology in reducing corruption.

Elaborating on the benefits of Direct Benefit Transfer, he said this has helped in better targeting of subsidy and eliminated leakage to a large degree.

The Prime Minister complimented families which have given up their LPG subsidy. He laid out the vision of providing LPG connections to 5 crore poor households. “When I think of a developed India, I think of a healthy India, particularly the good health of the women and children of our nation”, he added.

Modi said that through technology-driven governance, a modern India is being created. He said that when appropriate policies and governance are in place, the aspirations of the people of India can be achieved.

The meeting included Tim Cook of Apple, Satya Nadella from Microsoft, Sunder Pichai from Google, John Chambers from Cisco, Jeff Bezos of Amazon, Shantanu Narayen from Adobe, Ajay Banga from Mastercard, David Farr from Emerson, Doug McMillon and Punit Renjen from Deloitte Global as well as Mukesh Aghi, president of the US India Business Council. fii-news.com