The Modi administration has undertaken significant steps

India’s tax system, upgrade its bankruptcy laws and relax restrictions on foreign investment. The country witnessed a 23-place jump to a record 77th p

osition in the World Bank’s latest report on the ease of doing business, which covered 190 countries and regions. Fa

cts have proved that India’s economic reforms are conducive to improving the business climate for foreign investment.

Modi has launched a range of reform initiatives, and now the Modi administration must t

ell local authorities to fully implement these policies to ensure that the country’s economic re

form will go forward ahead of the general election. Effective implementation of current policies is mo

re important than launching new initiatives, and this effort will lay the groundwork for a better business climate.

India’s labor cost advantage has led some Chinese manufacturers to look closely at setting up assembly lines

in the country. Achieving a better understanding of India’s changing business climate will he

lp achieve win-win results and joint development of the two emerging economies.

China and India must enhance strategic communication and mutual trust to move their ec

onomic ties forward. Currently, the most urgent task is to prevent the suic

ide attack in the Pulwama district from affecting economic relations and India’s inbound investment.

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