Page 198 - ENVISAGE - Souvenir 2024 - Flip Book

Journey of VIKISIT BHARAT with
The United Arab Emirate

CA (Dr) Sahitya K.
Chaturvedi
Head of Accounts & Finanace
AJMAL Perfumes,
Secretary General
IBPC, Dubai

The Republic of India, BHARAT is stratagically geared to pave the path for nation’s growth journey and to offer a
roadmap for sustainable and inclusive development.

India, the world’s largest democracy and one of its fastest-growing economies, has been a focal point of global
attention due to its impressive growth trajectory over the past few decades.

Economic Reforms and Policy Initiatives

1. Goods and Services Tax (GST): One of the most significant tax reforms in independent India’s history with a
unified tax regime, simplifying tax compliance and fostering a common national market.

2.Insolvency and Bankruptcy Code (IBC): Introduced in 2016, aimed to expedite the resolution of insolvent firms and
strengthen the banking sector by addressing non-performing assets (NPAs).

3. Digital India and Infrastructure Development: The government launched the Digital India initiative to promote
digital literacy, connectivity, and e-governance. Investments in infrastructure, including roads, railways, and ports,
have aimed to boost connectivity and facilitate economic growth.

4. Manufacturing and Make in India: Efforts have been made to improve the ease of doing business and facilitate
industrial growth, attract foreign investment and create jobs.

5. Agricultural Reforms: including the repeal of outdated agricultural laws and initiatives such as PM-KISAN (Pradhan
Mantri Kisan Samman Nidhi) to provide direct income support to farmers and to liberalize the sector.

In context of the middle eastern countries and particularly the United Arab Emirates, that globally connects the
countries, culture, consumers and economies is reciprocal in the Journey of expotential growth and global vision
of social – economic advancement.

198 www.icaidubai.org

42 nd ANNUAL INTERNATIONAL
$5 Trillion
Economy CONFERENCE 2024-25
PR
OFESSION, BHARA
LD EC
PROFESSION, BHARAT & WORLD ECONOMY
ONOM
Y
T & W
OR