FM Nirmala Sitharaman At NYSE, Says Reforms Have Created An Ideal Destination For Investors

Finance Minister Nirmala Sitharaman is in New York on the second leg of her two-nation tour of Mexico and the United States. On Monday, the Finance Minister delivered a special lecture on ‘India’s Economic Resilience and Prospects Amidst A Challenging and Uncertain Global Environment’ at Columbia University as well as participated in a fireside chat with IBM Chairman and CEO Arvind Krishna on economic reforms and growth in India. Nirmala Sitharaman also addressed a roundtable on ‘Investment Opportunities in India’ at the New York Stock Exchange where she underlined several key structural reforms in India which provided a stable regulatory framework to investors. According to the FM, these include simplifying the tax structure through the introduction of the Goods and Services Tax (GST) and the Insolvency and Bankruptcy Code (IBC) to streamline the resolution of distressed assets. The FM also pointed out various measures to liberalised Foreign Direct Investment (FDI) norms across various sectors and enhance the simplicity and transparency of the overall foreign investment policy framework.