Australian PM Malcolm Turnbull appreciates Modi govt's tax reforms

Australian Prime Minister Malcolm Turnbull on Tuesday lauded the "ambitious" reform agenda of the Modi government, especially on taxation that has made the duty regime more efficient.

"Prime Minister Modi has an ambitious reform agenda. He has made taxes more efficient and deregulated the economy, "Turnbull said at a dinner meeting with industry leaders. Praising the progress in IT and the knowledge sector, the visiting premier said India is doing an outstanding job in these areas. He specifically noted the large number smartphone users (around 400 million) in the country.

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Earlier in the day, he visited the campus of TCS at suburban Andheri and requested India's largest software exporter to open an innovation lab in his country.

Turnbull flew into the financial capital after his engagements in New Delhi and drove straight to the TCS campus located near the airport. The PM said the digital evolution is transforming the global economy in general and that of India in particular.

Smartphones are playing a big role in connecting people with global marketplaces, democratising knowledge and expanding people-to-people interactions.

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"Technology is one of the most important developments in human history," he added.