India now has a facilitation window of sorts for investors who want to do business in the country, ushering in a new paradigm that is meant to make India’s notorious labyrinth of red tape and bureaucratic hurdles an unhappy memory from the past.
A day after India’s triumphant Mars mission and hours before he left for his first visit to the USA as prime minister, Narendra Modi launched the “Make in India” campaign. The initiative is meant to cut red tape, spur foreign investments and transform India into a manufacturing powerhouse, correcting the biggest weakness of Indian economy.
The initiative got a high-profile launch in New Delhi today, with India’s top industrialists, including Reliance Industries chairman Mukesh Ambani and Wipro chairman Azim Premji, speaking about the new deal for foreign investors, alongside Modi.
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