Nirmala Sitharaman, India's Finance Minister, recently emphasized the country's ongoing reforms aimed at creating a more investor-friendly environment during her address in New York. Here are the key points from her presentation:

Sitharaman noted that the Indian government has implemented significant structural reforms to enhance the regulatory framework for investors. This includes efforts to streamline processes and reduce bureaucratic hurdles, making it easier for businesses to operate in India.

The Centre plans to collaborate with state governments to develop an 'investment-friendly charter.' This initiative aims to encourage states to improve infrastructure, reduce compliance burdens, and reform land and building regulations. The performance of states will be monitored and ranked based on their adherence to these criteria.

The government is actively engaging with various countries to boost FDI, which has seen a decline recently. Strategies include enhancing access to markets and modernizing land records to facilitate business operations.

India has made strides in improving its ranking in ease of doing business, attributed to reforms like the Goods and Services Tax (GST) and changes in foreign direct investment policies. These reforms are designed to create a more transparent and efficient business environment.

Sitharaman encouraged states to leverage their unique strengths to attract specific industries. For instance, she highlighted the potential for states with developing electric vehicle ecosystems to attract companies like Tesla.

Seetharaman's remarks underscore India's commitment to fostering a conducive environment for both domestic and foreign investments through comprehensive governance reforms. By focusing on infrastructure, regulatory simplification, and competitive state policies, India aims to position itself as a prime destination for global investors.