Modi also visited Tata Motors-owned Jaguar Land Rover factory in the West Midlands region of England and met top industry leaders.
Advertisement
“India’s partnership with ASEAN nations has gathered enormous momentum over the years… we want to further scale up our trade and economic ties. Robust India-ASEAN ties will give great impetus to our collective dream of making this century an “Asian Century”, Modi said.
Taking a dig at the Prime Minister and Finance Minister Arun Jaitley, the Congress spokesman said that if they are finding it hard to handle the economy, his party would like to help them with all its experience in the larger interest of the country.
The mainstream diplomatic focus of the trip in Malaysia will be on the 13th India-ASEAN Summit and also the 10th East Asia Summit which is on November 21 and 22.
He said, “Malyasia is at the core of India’s Act East Policy”.
Modi last Friday said that India’s diversity was the country’s “strength and pride” and underlined the importance of peaceful co-existence. “As Modi himself said during his Wembley Stadium address, the perception of India is changing”, said Avinash Vazirani, manager of the Jupiter India fund, “The world is waking up to a host of opportunities that India holds, culturally but also when it comes to investment opportunities”. Modi’s visit includes a visit to the Ramakrishna Mission, inauguration of a statue of Swami Vivekananda and a visit to the Batu Caves temple. His outreach to the Indian diaspora also signalled the power of the British-Indian community in the United Kingdom politics.
On the sidelines of the G-20 Summit, Prime Minister Modi held bilaterals with Australia, Spain and Turkey and met with the King of Saudi Arabia Salman Al Saud.
The Torana was a gift of friendship from former Indian prime minister Dr Manmohan Singh and was supposed to have marked the launch of Kuala Lumpur’s Little India on Oct 27, 2010.
According to the Singapore government, the strategic partnership would enhance cooperation in areas such as the promotion of investments, urban solutions, smart cities, water and waste management, and skill development.
“Indeed, effective supervision and better use of technology can reduce capital requirements”, Modi said, adding that cyber security is important for the protection of the banking infrastructure. You can find about 2.4 thousand individuals of Indian foundation in Malaysia, constituting eight per cent of the citizenry in the nation.
The AMR for banks operating in Singapore, such as BNP Paribas and Standard Chartered, is much higher than that of Indian banks.
Mr. Modi will have a breakfast meeting with Singapore businessmen the next morning. “We will interact at a community programme on the evening of 24th November”, he said.
Advertisement
This continuing weakness reinforces concerns about India’s ability to replace China as the manufacturing hub of the world and it also raises serious doubts about meeting the $300 billion export mark, he said.
