Indian Prime Minister Narendra Modi promised on Sunday to pursue predictable policies and ensure stable taxes, in a speech that sought to address concerns for foreign investors in Asia’s third-largest economy.
U.S. Secretary of State John Kerry led a roll call of leaders, including U.N. Secretary General Ban Ki-moon and World Bank head Jim Yong Kim, converging on Modi’s home town of Gandhinagar for the Vibrant Gujarat business summit. U.S. President Barack Obama visits India later this month.
Eight months into Modi’s rule, his failure to lift the economy from its longest growth slowdown in a generation has raised questions about how much substance there is behind his promise of “red carpet, not red tape”.
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