BENGALURU: Prime Minister Narendra Modi said on Tuesday that "talented young Indians now prefer to become entrepreneurs"."Talented young minds in India are no longer looking merely for high paying jobs. Instead, they have now begun taking risks and preferring to become entrepreneurs. We have witnessed exponential growth in the number of start-ups in the recent past," PM Modi said while addressing the Indo-German summit in Bengaluru."It is the software of India that will move the hardware across the world. It is the talent of India that will master the technology," the PM said.Making a strong pitch for "Make in India" initiative, PM Narendra Modi said that "never before was India so well-prepared to absorb talent, technology and investment from outside"."At a time of global slowdown, India represents a bright spot for nvestments," PM Modi said.The PM said that his government has worked aggressively in the last fifteen months to make India an easy place to do business."We have fast tracked approvals and clearances for

industry and infrastructure. Transparent auction and allocation of spectrum and of key natural resources like coal, iron ore and other minerals in the last 15 months have created a level playing field for investors," the PM said.
PM Modi said that to enhance the flow of foreign investments, the government has liberalized the FDI regime."As a result of our initiatives, the sentiments for private investment and inflow of foreign investment have turned positive. The growth rate of our GDP is above 7%. FDI inflows have gone up by 40% compared with previous year's corresponding period," the PM said.PM Modi also said that he was hopeful about rolling out a new goods and services tax (GST) in 2016.Talking about India-Germany relations, the PM said that there is tremendous potential in India-Germany economic collaboration.Chancellor Angela Merkel said that Indian investors will be warmly welcomed in Germany."Germany and India have great opportunities in the area of digitization, infrastructure and energy supply," Angela Merkel said.
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