Finance Minister Arun Jaitley has said domestic reforms will "neutralise" any adverse impact of the global slowdown.<br/><br/>Addressing the BRICS investment seminar in Mumbai ahead of the 5-nation Summit in Goa beginning tomorrow, Mr Jaitley said, the government has put FDI on automatic route in almost 90 per<br/>cent of the areas that are eligible for foreign direct capital.<br/><br/>Stating that the ease of doing business has improved massively since the Modi government came to power, the Finance Minister said, India's global competitiveness ranking has improved to 39 this year. <br/><br/>Lauding the states, he said they have also become extremely competitive and more investment-friendly.