In the recent G20 Summit, India has created
a strong impact in the global business scene by presenting facts that prove
that India is doing everything it can to help startup business firms so that
they can develop and grow in their prospects.
The G20 countries have taken note
of the steps that have been taken by India to promote inclusive and sustainable
growth for the new business firms. They have also observed the way India has
contributed to offer support to the global economy, and have praised the
various initiatives taken by the country to enhance and promote ease of
carrying out business activities.
India’s openness to providing startup funding
to new and young entrepreneurs along with carefully planned labor reforms are
sure to improve the business scene in this country in the coming years.
In the Hamburg Action Plan that was adopted
by the 20 largest global economies at the recently held G20 Summit, the leaders
observed that India is working with and helping to promote a number of
important derivative instruments in electronic trading platforms or exchanges
within the financial sector. These measures are certainly going to help in
boosting the resilience of the country’s economical conditions.
The summit also
noted that India is currently facilitating ECBs or external commercial
borrowings through the startup firms so that they may help to encourage
innovation as well as make it easier for companies to carry out their business
activities.
The G20 countries are currently taking vital steps to ensure
momentum on sustainable growth and effective structural reforms, and this new
approach taken by India to enhance their business scene have certainly appealed
to the G20 countries.
The strategies and working policies that
have been adapted by India currently focus on implementing labor market reforms
that can offer additional security to workers along with increased
participation of females in the workforce. They are also working to ease the
whole process of carrying out business in India which can certainly usher a new
age of commercial development. This is certainly going to encourage investors
from India and abroad to come and be a part of various business and
developmental projects that are being introduced in this part of the world.
Such plans and steps taken by India are in line with the essential goals of the
G20 Summit, which has appealed to its leaders in a major way. The recent G20
Summit was also attended by the Prime Minister of India, Mr. Narendra Modi who
presented his case of proving that India’s business scene has improved greatly
over the years and is now a perfect hub for carrying out large scale business
activities.
The Modi government recently announced that
India aims to be within one of the world’s top 50 nations when it comes to ease
of carrying out business activities. This is not only going to usher great
commercial development in India but also take the country to a whole new level
within the global economy. There are certainly areas that India still needs to
work on if the country has to achieve this goal.
According to the World Bank, these
specific weak areas include enough ready facilities for companies to start a
business, paying the taxes, registering property, dealing with the construction
permits, trading across borders, resolving insolvency and enforcing contracts.
Over the last few years, India has implemented numerous reforms that can help
to reduce or fight issues relating to taxation, insolvency as well as starting
of a business. These reforms are expected to enhance the rankings in a major
way and help the country to enter a new age of economic development.
No comments:
Post a Comment