Now it is being observed that India has become a kakistocracy where the government is under the control of the worst, least qualified, and most unscrupulous people. ~ Rakesh Raman
The President of India, Ram Nath Kovind, inaugurated the 37th India International Trade Fair (IITF) -2017, today (November 14, 2017) in New Delhi.
Speaking on the occasion, the President said that 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.
The President – who works as a mouthpiece of Prime Minister (PM) Narendra Modi – said that 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, he said, has acknowledged the changed business environment in India and the strides made in ease of doing business.
The introduction of the Goods and Services Tax (GST) has been a milestone, he said. 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, Kovind said, 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.
The President said that 3,000 exhibitors, including 222 companies from abroad, are participating at IITF 2017. Thirty-two of India’s States and Union Territories are represented.
Institutions that are present range from self-help groups to big business houses, and from small and medium manufacturing enterprises to digital start-ups. IITF is a mini-India, Kovind added.
The President said that the focus of India’s economic reforms and policies is to eliminate poverty and enhance the prosperity of millions of ordinary families.
Photo courtesy: Press Information Bureau