Govt. removed around 32,000 "needless compliances" for better industry performance: Nadda

New Delhi: The Bharatiya Janata Party president J.P. Nadda on Thursday said that under the leadership of Prime Minister Narendra Modi, India has recorded the highest ever annual FDI inflow of USD 83.57 billion in the Financial Year 2021-22. Nadda, who is on his two-day visit to Tamil Nadu, spoke with BJP party leaders and industrialists, and later addressed a rally.

Claiming the central government has greatly supported Indian industries and MSMEs, Nadda said, "More than 75% MSMEs have benefited from Make in India initiatives of the Government according to the World Bank's findings. Indian pharma exports witnessed a growth of 103% since 2013-14, from Rs. 90, 415 Crores in 2013-14 to Rs.1,83,422 Crores in 2021-22. This is the Pharma Sector' best export performance ever. It is a remarkable growth with exports growing by almost USD 10 billion in 8 years."

The party president also claimed that the Modi led government has removed around 32,000 "needless compliances" in the last 8 years to facilitate better industry performance. Earlier in the week, the BJP president J.P. Nadda was in Gujarat wherein he addressed party workers. Nadda's visit to the southern state comes at a time when Congress leader Rahul Gandhi is in the midst of his Bharat Jodo yatra. On Thursday Nadda also said that India's extreme poverty level, at present, is below 1 percent. He said that from 2019, India's extreme poverty has declined by 12.3 percent.

 "Madurai Textiles Park completed with a budget of Rs.78 crores. Approximately Rs.350 crores has been given for the Smart City project, Madurai. Betel leaf from Madurai got GI tag. Many other sectors like textiles have high potential for growth in Madurai and our Government will do everything to help these sectors," he said while addressing the gathering.

He further said, "India's merchandise exports touched a record $418 billion in 2021-22, exceeding the government's target by about 5% and recording a 40% growth over the previous year. India has exported $418 billion for the first time in its history. India exported $250 billion worth of services in 2021-22, a new record too. That puts total exports from India at almost $670 billion in 2021-22, a number that is sure to put India among the top 10 exporters in the world by value."

BJP, which is currently focusing on the upcoming Telangana assembly elections, has had a poor presence in the southern regions of the country. In the 2021 Tamil Nadu assembly elections, the party contested on 20 seats out of which it bagged only 5 seats.