TEL AVIV: Prime Minister Narendra Modi today termed the Goods and Services Tax (GST) as by far the biggest economic reform and said India is now moving towards a modern, transparent, stable and predictable tax regime.
Addressing an India-Israel CEO Forum, he said regulatory and policy issues facing companies have been resolved and his Government is positioning India as a manufacturing hub.
India-Israel CEO Forum, which met for the first time today, set a target to increase the bilateral trade from the current USD 5 billion to USD 20 billion within five years.
“GST is by far biggest business and economic reform of India. Now, we are moving towards modern tax regime, which is transparent, stable and predictable,” Modi said.
With MoUs worth over USD 5 billion concluded on the sidelines of his unprecedented visit, he said a new chapter has been opened in India-Israel relations. “The driving force is opportunities for betterment of lives of people.” (AGENCIES)
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