The PM said: "We are committed to creating favorable conditions for business and industry because we believe that they are necessary for improving the lives of ordinary citizens in India. A recent study conducted with the help of the World Bank Group has brought out the urgency among our provincial governments on ease of doing business.

"They are moving hand-in-hand with the federal government in this direction in a true spirit of cooperative and competitive federalism. In fact the provincial governments have now entered into a healthy competition among themselves to ensure that a transparent, predictable and user friendly regulatory mechanism is quickly put in place," he shared.

The PM reiterated his commitment to provide a huge push to manufacturing which has stagnated at around 16% of the GDP for several decades in India. "This percentage must reach around 25 in the short and medium term. With this in view, we have launched the "Make in India" initiative.

"To make it a success, apart from vigorous implementation of measures for ease of doing business, we have fast tracked approvals and clearances for industry and infrastructure. Transparent auction and allocation of spectrum and of key natural resources like coal, iron ore and other minerals in the last 15 months have created a level playing field for investors," he shared.
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