Prime Minister Narendra Modi, on
Thursday, delivered a special keynote address at the US-India strategic meet. During
his speech, PM Modi spoke about Atma Nirbhar Bharat, foreign investments, and India’s transparent tax regime.

“1.3 billion Indians have embarked
on one mission to make an Atma Nirbhar Bharat or self-reliant India. Atma
Nirbhar Bharat merges the local with global. It ensures India’s trends act as a
global force multiplier. Time and again India has shown that our goal is global
good. Despite our large local needs, we did not shy away from our global responsibility,
the responsibility of being the world’s leading producer of generic medicines.
We ensured constant supplies to the world. Also, we are at the forefront of research on the vaccine for COVID-19,” Modi said.

“Atma Nirbhar Bharat is about transforming India from
being just a passive market to being an active manufacturing hub at the heart
of a global value chain. The road further ahead is full of opportunities, the opportunities
are in the public and private sectors. They cover core economic sectors, as well
as, the social sectors. Recent sectors that have opened include, coal, mining,
railways, defence, space and atomic energy,” the PM further added.

“In recent months, there have been
far-reaching reforms. These are making business easier and red-tapism lesser.
Work is actively underway on the world’s largest housing program. The renewable
energy, infrastructure is being expanded. Rail, road, and air connectivity is
boosted. Our country is creating a unique digital model to build a national
digital health mission. We are using the best of Fintech to provide banking
credit, digital payments, and insurance to millions. All these initiatives are
being taken using world-class technology and on global-based practices,” Modi said.

“This pandemic has also shown the world that the decision on the developing global supply change should be based
not only on cost but also based on trust along with the affordability of geography.
Companies are also now looking for reliability and policy stability. India is
the location that has all of these qualities. As a result, India is also
becoming one of the leading attractions for foreign investment. Be it America or
the gulf, be it Europe or Australia. We have received over 20 billion dollars. The world believes in us. India received over 20 billion dollars of investment flows,” Modi added.

“India offers a predictable and
transparent tax regime. Our system encourages and supports honest taxpayers.
Our GST is a unified, IT-enabled, indirect tax system. Insolvency, bankruptcy
core has reduced. Our comprehensive labour reforms will reduce the complaint
burden for employers. Also, provide social security protection to the workers,” Modi continued.

“Importance of investment in driving growth cannot be overstated and we are
tackling both the demand-supply sides of it. By making India one of the lowest tax
destination in the world and with further incentives for new manufacturing
units, mandatory e-platform based faceless assessment will go a long way in
helping citizens,” Modi added.