India has capacity to strengthen global supply chains – PM Modi

The Indian government has continued economic activity during the Covid pandemic and created employment opportunities through infrastructure projects worth trillions of rupees, Prime Minister Narendra Modi said on Thursday.

“India has stressed a lot on reforms and incentive-based stimulus in recent times. Even during Covid, India has accelerated structural reforms in almost every sector,” Modi said in his special address to the World Economic Forum, adding that the nation has the capability to strengthen global supply chains.

According to him, a “self-reliant India” policy has been launched with an incentive of increasing the capacity of the economy. The government has continuously taken major steps to boost manufacturing in India. The corporate tax rate has been brought down to 15 percent for new manufacturing units.

Modi said that he wants to assure the global business community that India has a “predictable and favorable environment,” inviting global businesses to participate in the country’s “growth journey.”

“Doing business situation in India is continuously improving, a lot has been done to improve that,” he said.

For more stories on economy & finance visit RT's business section