Indian Prime Minister Narendra Modi has just launched what he’s calling “the biggest brand that India has ever created”, in the form of a massive national drive to bring more foreign investment into the country.
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It is forcing us to make corrections and increase efficiency.
“The perception on India as an investment destination has changed, and this has forced us to correct policies and improve efficiency“, Modi said in Mumbai on Saturday. And I repeat this dedication as soon as once more. “We are working towards making taxing regime transparent, stable and predictable”, Modi said in his address at the inaugural event of the “Make in India” week.
Detailing the initiatives of the government to boost manufacturing, he said steps have been taken to simplify processes and rationalise provisions regarding licences, security and environment clearances. The prime minister said the Century was an Asia Century.
Modi himself kickstarted the Make in India Week yesterday at the MMRDA Ground in Mumbai, where he stressed on the deregulations on investors and talked about tax reforms. “I invite everybody sitting right here and in addition these not right here, to be part of India’s unfolding story”, he stated.
Make in India officially opened to great pageantry in India this weekend as the country tries to attract foreign investment through a huge pitch by Prime Minister Narendra Modi. “As we are wrapping up a year of hard work, complete with a weekly review by Modi, we have reached a moment being cherished by India”, she said.
Modi’s central government has earmarked $7 billion for the smart cities program and called on cities to compete for grants by developing proposals based around providing 24-hour water and electrical supplies, state-of-the-art transportation and education systems, emphasizing solar energy and other environmentally sustainable solutions and mobile applications to promote efficient government.
The Hindu nationalist leader faces a huge challenge in persuading foreign companies – many of which still eye India’s labyrinthine bureaucracy, complex regulations and poor infrastructure with suspicion – to invest in the country. We welcome him to a free India where everyone can speak what he thinks unlike the India when even he as the PM was denied his free speech. There are enormous opportunities in India. We have to build fifty million houses. In 2015, the Indian automobile industry recorded its highest ever production of vehicles and software exports were also the best ever. Observing that many people have said that 21st century would be India’s century, the PM said this century is the “era of knowledge” and India has always led the world in knowledge. The requirement of street, rail and waterways is huge. India has no time for wait for incremental development, he said.
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Accelerating manufacturing growthThe Make In India campaign has help accelerate manufacturing growth in the country. We want a quantum jump.
