The finance minister also said the country has crossed that stage when change of government in power used to result in problems for an infrastructure project, adding that now the dispute resolution mechanism has been made very robust.

Inviting foreign players to invest in the infrastructure space, he exuded confidence that the stuck reform measures like GST would go through as the numbers in the Upper House will change soon.

Last year, India was ranked 78th on the index that measures a nation's competitiveness based on the quality of talent it can produce, attract and retain.

The Prime Minister said his government began to liberalise FDI laws soon after coming to power last year and the latest round of FDI reforms have made India the \"most open economy\" in the world.

High domestic mutual funds' inflow shows a renewed sense of optimism about Indian markets, where foreign investors also continue to repose faith, said Reliance Mutual Fund

Goods and services tax, a comprehensive indirect tax reform that will subsume excise and service tax and other local levies, has been hanging fire since 2006-07.

Expressing concern over the financial health of some state-owned power distribution companies, the Finance Minister Arun Jaitley said some states are not levying adequate electricity tariff.

Speaking at the launch of W20, a grouping of women leaders from the world's 20 largest economies including India, IMF Chief Christine Lagarde said that \"it is an absolute economic no-brainer\" that empowering women boosts economic growth.

Arun Jaitley asserted that India is on a \"sound footing\" as manufacturing and services sectors have begun picking up and the government was focused on strengthening the real economy.

The IMF Chief Christine Lagarde called for a concerted policy effort to address the challenges, including continued accommodative monetary policy in advanced economies, growth-friendly fiscal policies, and structural reforms to boost potential output and productivity.

The two-day meeting of G20 Finance Ministers and Central Bank Governors starts at Ankara, Turkey's capital, on Friday.

The deal was announced in April under which French manufacturer Dassault Aviation will sell 36 of these jets to India in a deal estimated at over $5.5 billion.

The HDFC Chairman also hopes the first full Budget of the Narendra Modi government will focus on reforms without much populism.

Tech Mahindra chief CP Gurnani said 10-15 per cent technology jobs will become obsolete each year.

\"The way I view is that RBI has a mandate to bring down inflation and keep it low...\" Chief Economic Advisor Arvind Subramanian said.

Finance Minister Arun Jaitley said that many investors were looking at the country either to invest or to expand their presence.

Shortly on his arrival, Finance Minister Arun Jaitley said the ongoing meet of the rich and the powerful would be an opportunity for India where a lot is happening.

From fifth most trusted in 2014, India has now become the second-most trusted in 2015 with a score of 79 per cent in the barometer. The study has put India Prime Minister Narendra Modi's image on the first page.

Listening to the business leaders' concerns, the Prime Minister assured them that his government will try to make the business environment in India more favourable.

PM Narendra Modi said in New York on Sunday and announced various steps for the benefit of Non-Resident Indians including life-long visa for PIO card holders.