New Delhi, November 14
The focus of country’s economic reforms and policies is to eliminate poverty and enhance the prosperity of millions of ordinary families, said President Ram Nath Govind, inaugurating the 37th India International Trade Fair (IITF)-2017.
He said trade must help common people. They are the ultimate stakeholders. The government’s key initiatives such as Make in India, Digital India, Start-up India, Stand-up India, Skill India, Smart Cities, and the resolve to double farmers’ incomes are all an attempt to make economic reforms more meaningful to those at the grassroots.
Speaking on the occasion, the President said IITF is more than just a trade fair or exhibition. Commencing every year on November 14, it is a showcase of India on the global stage. It is also a symbol of India’s ancient and enduring commitment to international trade.
The President said, “Instinctively we have been an open society–free to trade winds and cultural exchanges. We have valued a liberal, rules-based international trading order. This is part of our DNA. And this is the legacy that modern India and IITF are building on.”
The President said this year’s IITF takes place at a point when India is recognised as one of the bright spots of the global economy. The world has acknowledged the changed business environment in India and the strides made in ease of doing business.
He said the introduction of the Goods and Services Tax had been a milestone. It has broken down barriers between states. It has provided a boost to the creation of a common market and a more formal economy as well as a stronger manufacturing sector. As a result of these efforts, there has been a sharp rise in FDI in the past three years–from US$ 36 billion in 2013-14 to US$ 60 billion in 2016-17.