G20 Hamburg Action Plan praises India |
The G20 has praised the initiatives in India for promoting ease of doing business, startup funding and labour reforms. In its Hamburg Action Plan, adopted at the G20 Summit of leaders from the world`s 20 largest economies, the group also noted that "in the financial sector, India is popularising a number of derivative instruments in exchanges or electronic trading platforms" as part of measures to enhance resilience of its economy. It further said India is facilitating external commercial borrowings (ECBs) by startups in order to encourage innovation and promote ease of doing business, as part of the efforts being taken by the G20 members this year for maintaining momentum on structural reforms and sustainable growth.On steps being taken by G20 countries for promoting inclusive growth this year, the Action Plan said India is introducing labour market reforms to provide security to workers, increase female participation in the workforce and make doing business easier in the country. Read the full text of Hamburg Action Plan. The World Bank ranked India at a low 130th position last year, an improvement of just one position from the previous year. The Modi government has said it wants India to be ranked in the top-50 nations in terms of ease of doing business. The next update to the ranking is expected later this year.
|
|
|
|