With greater digitisation and formalisation of financial activities and businesses, India is set to become an “extremely attractive” country to do business, Finance Minister Arun Jaitley said here on Wednesday.
Speaking at the Singapore Fintech Festival, Jaitley said the ongoing process of digitisation was a result of Aaadhar scheme coupled with financial inclusion, post demonetisation followed by the massive exercise on the improvement in the digital eco-payment system as well as the introduction of Goods & Services Tax (GST) from July 1, 2017.
With greater digitisation and greater formalisation, India is set to become an extremely attractive place to do business, he said.
Jaitley drew the conference’s attention to India’s improved ranking in the World Bank’s ease of doing business index released on October 31.
India jumped up 30 notches into the top 100 rankings on the World Bank's ease of doing business index.