Prime Minister Modi highlighted the government's efforts towards Ease of Doing Business

This is the best time to invest in India, Prime Minister Narendra Modi said in a special address to world leaders on Monday.

Detailing various steps taken by the country to make it the most atractive investment destination in the world, Prime Minister Modi also referred to the entrepreneurial spirit of the Indian people.

He was delivering the 'State of the World' special address at the World Economic Forum's (WEF) 'Davos Agenda' summit.

"The capacity of Indians to adopt innovation and new technologies and the spirit of entrepreneurship can provide fresh impetus to our global partners," he pointed out.

India had more than 60,000 startups in 2021, he said, recalling that there were hardly a 100 of these in 2014. More than 80 of these were Unicorns, with over 40 being added in 2021, PM Modi said.

"More than 10,000 startups had been registered in the last six months alone, he added.

India was providing a record number of software engineers to the world with more than 50 lakh working in India, PM Modi said.

During his address, the Prime Minister also spoke about the government's efforts towards Ease of Doing Business and simplification of the corporate tax structure.

Speaking about climate change, PM Modi said our lifestyle was a big challenge. "Throwaway culture and consumerism have made the climate challenge more serious," he pointed out.

The event, which is being held in a virtual format, began on Monday and will continue till Friday.

The event is also being addressed by several other Heads of State.

These include Prime Minister of Japan Kishida Fumio, President of the European Commission Ursua von der Leyen, Prime Minister of Australia Scott Morrison, President of Indonesia Joko Widodo, Prime Minister of Israel Naftali Bennett, and President of the People's Republic of China Xi Jinping, the Prime Minister's Office (PMO) had said on Sunday.