He said that Prime Minister Modi had also acknowledged Japanese Prime Minister Shinzo Abe’s vigour and commitment towards India-Japan relations. He invited Japan to be a part of “Make in India”, especially in the defence sector.
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The Prime Minister said India has launched second wave of reforms to re-vitalize the flow of investments and steps are being taken to further open up the economy.
Wooing foreign investors, prime minister Narendra Modi today promised reforms “with speed and boldness” along with a transparent and predictable tax regime and protection of intellectual property rights.
At the business summit, the Indian prime minister outlined a host of measures taken to make his country an investment-friendly destination, notably through campaigns such as “Make in India”, “Digital India” and “Skill India”.
“India hopes that all parties to the disputes in the South China Sea will abide by the guidelines on the implementation of the Declaration on the Conduct of Parties in the South China Sea, and redouble efforts for early adoption of a Code of Conduct on the basis of consensus”, the Prime Minister said. He said that both India and China faced the threat of terrorism and there was a need to increase strategic coordination.
During the meeting on the sidelines of ASEAN-India Summit, Li said that China and India – the world’s two largest developing countries – have more common interests than divergences. “I invite you to come and see the winds of change in India”, he said. “I will join the programme for the inauguration of Torana Gate and also interact with Corporate Malaysia”, he said.
Modi said his government was working hard to cut complicated procedures and making them available on one platform, preferably online, besides simplifying paperwork on a war footing. That’s how we have jumped up by 12 ranks in the World Bank’s Ease of Doing Business Report of 2016.
“Our democratic values and an alert judicial system ensure the safety of your investments”, he said.
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The ASEAN-India economic integration process got a boost with the creation of the ASEAN-India Free Trade Area in July this year, after the entry into force of the ASEAN-India Trade in Services and Investment Agreements. We asked ourselves the question – Reforms for what?
