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BW Businessworld

Narendra Modi Pitches In For Foreign Investment To Global Foods companies

Narendra Modi said during the World Food India launch event that the processes to do business in India have been simplified, archaic laws have been repealed and the burden of compliance has been reduced

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Narendra Modi chipped in for the boost in foreign investment to global foods companies including Nestle, Unilever, and overseas policymakers emphasising on the Ease of doing business rankings of World Bank in which India’s rank plunged 30 places to 100. The Prime Minister quoted, “India jumped 30 ranks in the World Bank’s ease of doing business list. This is the highest improvement for India and the highest jump this year for any country. From a rank of 142 in 2014, we have now reached the top 100.”

In the World Bank's 'Ease Of Doing Business' Index, BJP President Amit Shah Credits Prime Minister Narendra Modi For Improvement In India's Ranking

The Prime Minister said during the launch event of World Food India, “Processes to do business in India have been simplified, archaic laws have been repealed and the burden of compliance has been reduced.” He added, “The government has undertaken a range of transformation initiatives to improve the ease of business. Today, India is the most preferred destination for the food sector that is our priority sector for the Make in India initiative. Both states and central governments are offering attractive incentives to investors.”

India was placed at the first position in 2016 in the Greenfield investments and the nation was swiftly progressing on the global innovation and competitive index, said the Prime Minister. Highlighting certain aspects, Modi said, “A strong consumer base, rising incomes, a favourable investment climate and a government dedicated to ease of doing business make it the ideal place for the food processing sector to invest. Many international companies have taken the lead in contract farming. There is an opportunity for global supermarket chains that can consider India as a global outsourcing hub.”