New Delhi: Prime Minister Narendra Modi on Monday promised an open business environment and predictable tax regime. Addressing a meeting of India-US CEO Forum, PM Modi said that he would personally take charge of implementation of big projects and monitor them.
PM Modi asserted that his government has removed some of the "excesses of the past" and said "we will now soon address the remaining uncertainties", an apparent reference to the retrospective taxation law of the previous government that put off global investors.
"You will find environment that is not only open, but also welcoming. We will guide you and walk with you in projects. You will find a climate that encourages investment and rewards enterprise. It will nurture innovation and protect your intellectual property.
"It will make it easy to do business.... You will find a tax regime that is predictable and competitive. We have removed some of the excesses of the past. We will now address the remaining uncertainties," PM Modi said at the India-US Business Summit.
Pledging $4 billion in lending by US banks, President Obama said the US is ready to help India grow by working with it in development of infrastructure like railways, ports, roads and clean energy power plants.
Both the leaders were addressing a meeting of the US-India Business Council on the second day of the US President's visit that was attended by top corporate leaders of both the countries.
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