The Vice President of India, M. Venkaiah Naidu has said that India’s stability, consistency, transparency and reform agenda coupled with a safe and structured financial system makes India one of the most attractive FDI destinations. He was addressing the gathering after inaugurating the Global Expo Botswana 2018, in Gaborone, Botswana yesterday.
This year’s Expo holds special significance to India this year as 25 Indian companies are taking part in the event making it the largest participation from a single country. The Vice President said that the annual Business to Business Expo creates an opportunity for the world community to engage with Africa and deepen the feeling of commonality and sense of purpose among participating nations.
Emphasizing that India’s engagement with Africa has gathered an unprecedented pace over the last four years, the Vice President reiterated that India supports the industry to invest in Africa and keeps its markets open for investments. Informing the global business community about India’s economic progress, the Vice President highlighted the transformative changes taking place in India.
The Vice President said that India’s steady growth rate of over 7% presents multiple opportunities for Botswana entrepreneurs in various sectors and invited them to seize current and emerging business opportunities. He further said that transformative taxation reforms such as the Goods and Services Tax (GST) made India a transparent and an integrated market with greater ease of doing business.
India is moving rapidly on the path of economic transformation with an annual growth rate of over 7%. It presents multiple opportunities for Botswana entrepreneurs in various sectors. There is an encouraging swing in stock market indices, foreign exchange reserves, and public investments in infrastructure and welfare measures. As per World Bank’s Ease of Business Index, India has climbed 42 places.
Transformative taxation reforms like the introduction of Goods and Services Tax (GST) has made India a transparent and an integrated market with greater ease of doing business. Aiming to make India the 3rd largest consumer market in the world, we are moving forward to build a five trillion dollar economy by 2025. As you have seen, our multi-party democracy has demonstrated stability coupled with a safe and structured financial system which makes India one of the most attractive FDI destinations, he noted further.