Prime Minister Modi said, “Our goal is to make India an economy of Rs 350 lakh crore.

The annual conference of the Indian Chamber of Commerce and Industry (ASSOC) was held in Delhi yesterday. Prime Minister Narendra Modi unveiled a special postage stamp as the Chamber of Commerce completes 100 years. Addressing the function, PM Modi said:

We are working hard to improve the Indian economy. Our focus now is on achieving our target of Rs 350 trillion (USD 5 trillion) as an economic nation. We are not afraid of this challenge, because it is not the water of the river and we have the merit to achieve this.

We have laid a strong foundation for achieving this goal. India’s ranking on the list of easy-to-launch countries has been steadily rising for the past 3 years. This qualification rises because you work night and day and change your policies.

Our economy went into disaster 5-6 years ago. Our government has established it and tried to bring about an order. We focused on meeting the demands of the industry 10 years ago.

The government has been trying to regulate many sectors of the economy. Steps have been taken to modernize technology to accelerate economic growth. The banking sector has improved. We ended the government intervention in banking activities.

There is no criminal action if companies mismanage the provisions of the law. We have brought transparency, efficiency and accountability in administration. We are progressing towards electronic tax administration. It is imperative to raise standards to face global competition. Thus he said.