Vastavam web: Prime Minister Narendra Modi today termed the Goods and Services Tax (GST) as by far the biggest economic reform and said India is now moving towards a modern, transparent, stable and predictable tax regime.Addressing an India-Israel CEO Forum, he said regulatory and policy issues facing companies have been resolved and his government is positioning India as a manufacturing hub.”GST is by far biggest business and economic reform of India. Now, we are moving towards modern tax regime, which is transparent, stable and predictable,” Modi said.
With MoUs worth over USD 5 billion concluded on the sidelines of his unprecedented visit, he said a new chapter has been opened in India-Israel relations. “The driving force is opportunities for betterment of lives of people.” “We (Indian government) have resolved number of regulatory and policy issues facing businesses and companies. Modi said his government is “positioning India as a global manufacturing hub. This is necessary for us to take advantage of youth energy. For this, we have launched Make in India”, he said.
On relations between the two nations, he said, CEOs and talents of India and Israel together are sowing seeds of miracles for betterment of the world.”There is lot of potential for India-Israel partnership in start-up India and I am happy that India-Israel start-up bridge has been formally launched today,” he said. The CEO Forum also set up six joint committees covering start-ups, pharma and life sciences, homeland security, agriculture, energy and water sectors.