He said India's GDP has clocked an impressive 7.4 percent growth and the World Bank and International Monetary Fund (IMF) and other international agencies have projected this growth momentum to continue.

Addressing CEOs Forum here along with Russian President Vladimir Putin, Modi said his government is committed to a fair taxation regime and the efforts towards improving the ease of doing business would go on.

He said various indices of the economy, including Current Account Deficit (CAD) and flow of FDI, have been impressive and the aim of his government was to make India a global manufacturing hub.

Modi said Russia can take advantage of 'Make in India' initiative which would help the economies of both the countries.

Speaking on the occasion, Putin said that Indian companies could have better involvement in Russia's oil and gas sector.

The efforts, he added, should be to remove hurdles to ensure better flow of investments from Indian companies in Russia.

Modi said his government's endeavour would be to ensure "liberal conditions" for Indian investors.

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