President inaugurates global trade fair in Delhi

New Delhi, Nov 14 (IANS) President Pranab Mukherjee, inaugurating the 36th edition of India International Trade Fair on Monday, said an "unparalleled investment opportunity" awaited foreign businesses in the country that believes in growth and stability of its neighbours.

Mukherjee said that India was progressing rapidly with a range of reforms, including the Goods and Services Tax (GST) — a comprehensive indirect tax levy on manufacture, sale and consumption of goods as well as services at the national level — that the government has introduced.

"It will lead to creation of jobs. This is an unparalleled investment opportunity for all the businesses across the globe," the President said.

"India has always believed in growth and stability of neighbouring countries. This is an opportunuity to bring peace and prosperity, develop infrastructural capacity building and set up development projects."

He said India needed to grow but "without compromising on its environment and for this the industry needs to adopt eco friendly measures".

He also hailed the government’s initiative of an e-governance.

There are some 150 companies from 24 nations participating the fair themed "Digital India".