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Speaking at an Assocham event, he said the recent cut in corporate tax has brought rates to all-time low for businesses.
He, however, said labour force should also be taken care of.
Modi said time taken to register companies has been cut to few hours from months and better infrastructure has enabled the cut in turnaround time at airports and ports.
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From 142 rank, India has climbed to 63rd position in three years, he said.
Modi said many provision of the Companies Act have been decriminalised and work is on to bring in more provisions.