Vibrant Gujarat 2019: Implementation of GST reduced transaction costs, says PM Modi

Prime Minister Narendra Modi, on Friday said, “India is now ready for business as never before.” Making an address at the inauguration of the 9th edition of the Vibrant Gujarat Summit in Gandhinagar, PM Modi highlighted the policies of his government as he urged investors to be part of India's growth story. The Prime Minister said that the policies initiated by his government have helped the country improve its ranking in the World Bank's Doing Business Report. "India is now ready for business as never before. In the last 4 years, we have jumped 65 places in the Global Ranking of World Bank's Doing Business Report. But we are still not satisfied. I have asked my team to work harder so that India is in the top 50 next year," PM Modi said.

As many as 1.5 million visitors and 3,000 delegates from over 100 countries are expected to be part of the event. However, the Vibrant Gujarat 2019 will have no delegation from Pakistan. The Global Summit was first initiated in 2003 by Narendra Modi who was the then Gujarat chief minister. The Vibrant Gujarat Global Trade Show is being held on around two lakh square metres area of an exhibition ground to showcase products of nearly 25 industrial and business sectors from across the globe.

"At 7.3%, the average GDP growth over the entire term of our Government, has been the highest for any Indian Government since 1991. At the same time, the average rate of inflation at 4.6% is the lowest for any Indian Government since 1991," PM Modi said.

Earlier on Thursday, PM Modi inaugurated a global trade show in Gandhinagar as part of the Vibrant Gujarat Global Summit 2019. The trade event, which is scheduled to end on January 22, will be open for general public on January 21 and 22.

Here are the LIVE updates from Vibrant Gujarat 2019: