India has ended regulatory uncertainty: Narendra Modi to Malaysian business leaders

Narendra Modi had promised reforms with speed and boldness

Kuala Lumpur:

Wooing foreign investors, Prime Minister Narendra Modi on Monday said India has ended regulatory uncertainties and created a policy driven state that offers ample scope for investment.

At a meeting with leaders of Corporate Malaysia, he said India is looking at strengthening commercial ties with the South East Asian nation.

-"We have ended regulatory uncertainty to a large extent, creating a policy driven state,-" foreign office spokesman Vikas Swarup tweeted, quoting the Prime Minister. Modi assured the busines leaders that India wants to progress. -"You have the experience and expertise. We have the requirement. It is a perfect match.-"

India, he said, is the fastest growing economy in the world, with a stable polity and offering -"ample scope for investment-".

On Saturday, the Prime Minister had promised reforms -"with speed and boldness-" along with a transparent and and protection of intellectual property rights.

Addressing the ASEAN-India Summit, he said with a growth rate of 7.5 per cent, India is the fastest growing major economy in the world adding it is likely to go higher in the near future.

-"And now we have environment that is open and welcoming. And we will continue with our reforms with speed and boldness,-" Modi said.

-"Our inflation is down as also our fiscal and external deficits. And, business and international confidence has increased sharply,-" he said.