India progressing rapidly, remains ideal FDI destination: PM @NarendraModi in Russia

St Petersburg, June 2: Participating in the St Petersburg International Economic Forum (SPIEF) in Russia, Prime Minister Narendra Modi reiterated the resolve of his government to create India as the ideal destination for investment. While addressing the gathering in presence of Russian President Vladimir Putin, Modi said the world is looking towards India as the best destination for FDI (Foreign Direct Investment).

“India is among top 3 favourable FDI destinations. At this moment, world is looking towards India as the best place for investment,” PM Modi said, further adding that major credit agencies across the world have appreciated the steps taken by the nation to create a conducive environment for investors.

PM Modi further claimed that the scheduled rollout of Goods and Services Tax from July 1 would further simplify taxation laws in India.