Prime Minister Narendra Modi on Monday said his administration’s goal was to take India into the $5-trillion club in the shortest possible time. Modi was addressing a gathering as he launched the “Ease of Doing Business Grand Challenge” at an event in New Delhi.
The prime minister took credit for the nation’s rise to the 77th rank out of 190 nations on the World Bank’s Ease of Doing Business index, ANI reported. “Four years ago, when I spoke about the possibility of India improving significantly in the days to come, many were laughing at us,” Modi said. “There were many who sensed instability in our policies and they never thought India could ever find itself among the world’s top 100 countries. But, now everyone can see this radical transformation that the country is going through.”
Modi said the Centre’s initiatives are also aimed at improving the public’s “ease of living”. The prime minister attributed the positive ranking to his administration’s efforts to “repeal 1,400 archaic laws, reduce time taken for resolution of commercial disputes and clearing imported goods”. He also spoke about the government’s decision to sanction loans for small businesses within 59 minutes.
The prime minister said the Ease of Doing Business challenge is to “invite innovative ideas based on artificial intelligence, the internet of things, big data analytics, blockchain and other cutting edge technology to reform government processes”.