Easier to do business in India than ever before, says PM Narendra Modi

India, Modi said, is one of fastest growing economies in the world and implementation of the Goods and Services Tax (GST) from July 1 has eliminated multiplicity of taxes.

New Delhi: Prime Minister Narendra Modi on Friday asserted that it is now easier to do business in India than ever before after the country leaped 30 places to break into top 100 nations worldwide.

The jump to 100th rank on this year's World Bank Ease of Doing Business index, from last year's 130, is the biggest by any country this year, he said while addressing the World Food India conference here.

India, he said, is one of fastest growing economies in the world and implementation of the Goods and Services Tax (GST) from July 1 has eliminated multiplicity of taxes.

The prime minister invited global companies to come and invest in the food process industry in India, saying it offers immense opportunity.

He made a point that more investment is required in contract farming, raw material sourcing and creating agricultural linkages.

There are opportunities in post-harvest management, Modi said, adding that there is immense potential for value addition in areas such as organic food.

He also spoke of the government targeting doubling of farmers' income in five years. India can provide solution and offer win-win partnership combination of traditional Indian food and modern technology, the prime minister stressed.