New Delhi-India is working with the mission of transforming India from an old civilization into a modern society, an informal economy into a formal economy said Prime Minister Narendra Modi. He was addressing the 2nd India-Korea Business Summit in New Delhi today, Mr Modi said, the government has worked towards creating a stable business environment, removing arbitrariness in decision making. He said India is on a de-regulation and de-licensing drive. Mr Modi said validity period of industrial licenses has been increased from three years to fifteen years and more.