On Monday, Niti Aayog CEO Amitabh Kant said that “unprecedented” reforms are undertaken on governance, and economic fronts by the government will usher in a new era of growth and prosperity. He claimed that there is a need to increase expenditure on research and development to strengthen intellectual property rights laws.
While addressing a virtual event organized by industry body CII, he said, “The economic and governance reforms are undertaken by the government have been quite unprecedented and they will usher in a new era of growth and prosperity. We are making states compete on ease of doing business parameters. We are ranking states and naming and shaming them.”
Kant said as the world economy is contracting, India has started reforming its key sectors including, agriculture, labor, and mining. He claimed that the country has successfully improved its ranking in the Global Innovation Index. Continuing in the reformation in Labour, he said, “the labor reforms will help in making India a manufacturing hub.”
The CEO of Niti Aayog said that the foreign direct investment (FDI) in India exponent to USD 74 billion in 2019-20 from USD 36 billion in 2013-12 despite challenges in the global economic environment.
