Financial reforms will continue in pandemic, FM during National MNCs conference 2020

Union Minister of Finance and Corporate Affairs, Nirmala Sitharaman while addressing the National MNCs Conference 2020 organised by the Confederation of Indian Industry (CII) informed that reforms momentum has continued in pandemic, and will continue in the future as well. “All enterprises, MNCs and India Inc., big, medium and small enterprises, are facing a reset exercise in doing business. We will have to make sure that policies are right to make India an attractive investment destination,” highlighted the Minister. 

She informed that reforms under the Aatmanirbhar Bharat Package have opened up many sectors including niche sectors such as Nuclear Energy and Space for the foreign investors to invest in. The package is not about excluding India from the globe, but making it an integral part of the global value chains by improving its domestic competitiveness, highlighted the Finance Minister. Indian government is working constantly to provide feasible environment for MNCs, reforms including reduction of taxes has been provided. 

The reforms attracting various foreign funds to invest on National Pipeline. The Government ensures to set up a dedicated Special Manufacturing Zones for the production of Pharma, Medical Devices and APIs in 6 States. Effective unified single window mechanism is part of these zones. She concluded saying PM Modi's government has not lost the opportunity for deep reforms, even during the coronavirus crisis and the reforms momentum would continue. In line with this, CII director has said, “CII remains committed to continue supporting the government in making India an even more attractive destination for foreign investors". 

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