Mumbai:  Prime Minister Narendra Modi has promised more economic reforms and a stable tax regime to make India an easy place to do business. Addressing the Make in India event in Mumbai yesterday evening, Mr. Modi said tax regime in the country will be made more efficient, transparent, stable and predictable. He said his government is simplifying processes like licenses, security and environmental clearances. The Prime Minister also said that the government will not resort to retrospective taxation.

He said government wants to present to the world the enormous opportunities that India offers as a base for manufacturing, design, research and development. Mr. Modi said, the Make in India is a drive to fulfill unmet demands of the common man and also an effort to engage and empower the unemployed. He said, the centre has already enacted a law for fast tracking of arbitration proceedings on the issue of safety of properties and rights. Mr Modi said, government is establishing dedicated Commercial Courts and Commercial Divisions in High Courts. He said formation of the company law tribunal is in final stage.