New Delhi, March 2 – Prime Minister Narendra Modi announced on Monday that the Indian government is relentlessly working to enhance the ease of doing business across every sector, from modernizing the tax system to implementing insolvency reforms.
Speaking at the India-Canada CEO Forum, PM Modi highlighted India’s position as one of the world’s fastest-growing economies. ‘This growth is fueled by robust domestic demand, a young demographic, massive investments, and rapid digitalization,’ he said. ‘It’s the result of our reform express gaining momentum.’
The Prime Minister detailed a comprehensive reform agenda, encompassing policy simplification, Production-Linked Incentives (PLI), logistics modernization, tax reforms, and bankruptcy code improvements. ‘We’re strengthening the business environment in every domain,’ he emphasized.
Addressing CEOs from both nations, PM Modi noted that while governments can create frameworks, it’s the business leaders who bring them to life on the ground. He pointed out that the combined economies of India and Canada exceed $6 trillion, with their true strength lying in shared objectives.
In a significant push towards clean energy, PM Modi revealed a new agreement on nuclear energy cooperation. India and Canada have inked a $2.6 billion uranium deal, hailed as a milestone in their economic partnership. This pact ensures long-term fuel supply for India’s civilian nuclear program.
Leaders from both countries affirmed that the deal will bolster collaboration in clean and reliable energy sources. They also agreed to jointly advance technologies like Small Modular Reactors (SMRs) and Advanced Nuclear Reactors.
Complementing the uranium agreement, India and Canada committed to accelerating negotiations for a Comprehensive Economic Partnership Agreement (CEPA). These steps signal a new era of strategic economic ties, promising mutual growth and innovation in key sectors.