Prime Minister Narendra Modi on Wednesday delivered keynoteaddress at Bloomberg Global Business Forum in New York and invited globalcorporates to invest in India. The prime minister said that historic reductionin corporate tax rates by his government has created a conducive environmentfor global investors to put their money in India.

"If you want to invest in a market where there isscale, come to India... If you want to invest in start-ups with a huge market,come to India...If you want to invest in one of the world's largestinfrastructure ecosystem, come to India," Modi said. "Today India isin a unique opportunity where rapid growth enables us to diverse demand..ourpeople are rapidly defeating poverty and moving up the economic ladder,"he added. It may be recalled that the government had reduced the effectivecorporate tax rate to 25.17% from nearly 35% on September 20 to boost theeconomy and attract foreign investment.

PM Modi-led government at the Centre has introduced a numberof tax reforms, including the introduction of GST reforms and Jan Dhan Yojnawhich aims to increase the number of bank accounts for the common man.Addressing the event, PM Modi said that we have a government in India,"that respects the business world and wealth creation" adding,"qualitative and quantitive leap in India growth story" and the aimis to make India $5 trillion economy for which India has "capability,courage and conditions"

India has jumped in a number of global rankings due to thereforms by the Modi government. New Delhi jumped 10 rank in logisticsperformance index, 24 in the global innovation index and improvement of 65ranks in World Bank’s Ease of Doing Business Index.

Pitching for India's nuclear supplier group or NSG bid whichis a hindrance to India's growing energy need. He said "We have onechallenge still. The challenge of nuclear energy. Because we are not a memberof NSG, we face issue on the supply of fuel. If we get a solution on thatfront, then we can come out as model"

PM Modi also highlighted India's climate action plans whichaim to increase the share of the renewable component in overall energy basket."It is true that the third largest coal reserve is in India. We cannotignore that in a poor country like India. But there is a solution. One ischanging processes for mining coal so that there’s not environmental loss dueto it. The other solution is coal gasification. Through this you can developclean energy. We are inviting the world to bring this technology to India anddo coal gasification," he said.