GST India's biggest economic reform: Modi at BRICS Business Council meet

Xiamen: Addressing BRICS Business Council in China's Xiamen, Prime Minister Narendra Modi on Monday said the Goods and Services Tax (GST) is India's biggest economic reform ever.

"It is India’s biggest economic reform measure ever; in one stroke, a unified market of 1.3 billion people has been created," he said.

Modi also said that programs like Digital India, Start-Up India and Make in India are also changing economic landscape of India.

“Digital India, Start Up India and Make in India are assisting India turn into a knowledge based, skill supported and tech driven society,” he said.

"I am happy to note that BRICS Business Council is entering into an MOU with the New Development Bank," Modi said.

"India is changing fast into one of the most open economies in the world today; FDI inflows are at an all-time high, rising by 40 per cent," he added.

Modi also complimented BRICS Business Council work towards establishment of BRICS Rating Agency, energy cooperation, green finance and digital economy.

“We count on the BRICS Business Council to take us closer to our common objective of improving business and investment cooperation,” the Prime Minister said, concluding his speech.