New Delhi: As preparation for next year's Budget gathers steam, Prime Minister Narendra Modi on Friday met with leading private equity/venture capital players to seek suggestions on making India a more attractive investment destination. The Prime Minister sought suggestions towards improving ease of doing business in India, attracting more capital and furthering the reform process in the country.
"He appreciated the practical suggestions received from the representatives and said the government is committed towards working to resolve the issues and challenges highlighted," an official release said.
During the meeting, Modi discussed the efforts undertaken by the government to bring in more reforms, future potential of initiatives like PM GatiShakti, and steps taken to reduce the unnecessary compliance burden.
He also mentioned the innovation happening in India at the grassroot level and the boost to the startup ecosystem.
Finance Minister Nirmala Sitharaman, who also participated in the meeting, is due to present on February 1 the Budget for the next fiscal year that starts on April 1, 2022.
Since coming to power in 2014, the BJP government has unveiled a series of reforms that has helped India climb on the global ease of doing business ranking.
It is now pushing for making India a manufacturing hub. Production-linked incentive schemes for sectors from automobiles to semiconductors and solar have been announced to attract global manufacturers to set up base in the country.
The release further said the venture capital and private equity fund representatives also talked about the entrepreneurial potential of the country, and how it can be leveraged so that India's startups can attain global scale.