00:00Since the last decade, at the national level, we have been passing big reforms one after the other.
00:12Now, at the state and local level, reforms are being encouraged.
00:21I would like to discuss the State Deregulation Commission with you.
00:28We have discussed this issue in the budget.
00:33We are constantly communicating with the states.
00:39Together with the states, in the past few years, we have reduced the number of compliances by more than 40,000.
00:52In the past few years, 1,500 such laws have been abolished.
01:01These laws have lost their importance.
01:05Our aim is to identify such regulations that are in the way of ease of doing business.
01:17The Deregulation Commission will help the states to create an investment-friendly regulatory ecosystem.
01:29Friends, in the budget itself, we have simplified the basic custom duty structure.
01:40We have reduced the rates on many important inputs for the industry.
01:49We are also setting a time limit for the assessment of custom cases.
01:58In addition, we are also opening up new sectors for private entrepreneurship and investment.
02:11This year, we have opened up many new avenues for investment such as nuclear energy, bio-manufacturing, critical minerals processing, lithium battery manufacturing.
02:35This shows the Government's intent and commitment.
02:43Friends, in the developed future of India, three sectors will play a major role.
02:55These three sectors will create millions of new jobs.
03:00These sectors are textile, tourism, and technology.
03:10If you look at the textile sector, India is the second largest producer of cotton, silk, polyester, and viscose.
03:26India's textile sector provides employment to millions of people.
03:33India has an entire textile tradition, skills, and entrepreneurship.
03:44And Madhya Pradesh is India's cotton capital.
03:5225% of India's organic cotton supply comes from Madhya Pradesh.
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