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Prime Minister Narendra Modi on Sunday repeatedly said the digit that is moving towards a $5 trillion economy over the next few years with sustained, comprehensive and holistic development in the nation.
On the inaugural of the first mega global investors summit, "Magnetic Maharashtra: Convergence 2018" in Mumbai, PM said that our country is on the firm path of development simultaneously with the development of the states.
"We are working towards becoming a member of the Five Trillion Dollar club," Modi said.
He also appreciated Maharashtra Chief Minister Devendra Fadnavis for taking the initiative to make Maharashtra the first state in India to become a Trillion Dollar economy in the next few years, while addressing a gathering of over 200 captains of Indian and global companies at Bandra Kurla Complex in Mumbai.
Modi noted his government has taken a slew of steps to ensure all-round development of India with an ecosystem comprising development-friendly, investor-friendly governance with minimal governmental interference.
Indian states are now policy-driven, governance is performance-driven with full accountability, a transparent ecosystem, various norms are being eased, the government is changing laws where needed, and scrapped more than 1,400 old or outdated laws, and for new or modified laws, care is being taken to ensure they are simplified, he said.
In recent years, various states of India have also competing among themselves to attract maximum foreign investments as per their needs and requirements, including Assam, he said.
On Maharashtra, Modi said during the past three years, this state has initiated unprecedented measures to lure foreign investors on all fronts, led by Chief Minister Devendra Fadnavis.
"The state's reforms have transformed business, huge improvements in its rating in Ease of Doing Business, changed the work culture, problems are being resolved in a time-bound manner, debottlenecking has been achieved with inter-departmental cooperation, all of which have reflected on its development," he said.
(With Agency Inputs)