PM hardsells ‘Make in India’ to Japanese
Hardselling India as a manufacturing destination a day after Japan announced a $35 billion investment, Prime Minister Narendra Modi invited investors saying the era of \"red tape\" has been replaced by \"red carpet\" with ease of doing business and liberalisation.
Red carpet, not redtape, awaits you, Modi tells Jap Investors
Tokyo: Hardselling India as a manufacturing destination a day after Japan announced a $35 billion investment, Prime Minister Narendra Modi invited investors saying the era of "red tape" has been replaced by "red carpet" with ease of doing business and liberalisation.
Winding up his official programme on the penultimate day of his five-day visit, Modi expressed gratitude to Japan for reposing "trust" in India and demonstrating its friendship with a quip "yeh Fevicol se be zyada mazboot jod hai (this bond is stronger than that of Fevicol)".
Addressing Japanese investors at a business symposium organised by Nikkei and Jetro, Japan's trade promotion body, he talked about his vision of 'Make in India' and cited the decisions of his 100-day old government to create ease for doing business. "No other country offers such an opportunity" as India, given the fact that it has democracy, demography and demand, Modi said on the fourth-day of his trip, a day after he addressed investors and businessmen on Monday at another event.
Modi's invitation to the Japanese investors came a day after Prime Minister Shinzo Abe promising a Rs 2.1 lakh crore investment and financing in infrastructure and other projects in India over the next five years.
He asked business leaders to "try their luck" by investing in India, contending that they could do "miracles" in terms of profits through low-cost manufacturing. "What do manufacturers want? They look for low-cost manufacturing. They don't want high-cost manufacturing. Cheap labour, skilled manpower, ease of business and liberalised environment. Then it becomes economically viable in India. Trillions and trillions of dollars need to be invested in India. The electronic market, especially the mobile handset sector, is a big market with a potential," he said, adding the government had put digital India plans for 125 crore people on a mission mode. Arguing why India provides a big potential, he said plans for metro construction in about 50 cities and renewable energy sector offers big opportunities. "Bharat is ready to invite you. Make in India whatever facilities you want, they are there," he said wooing Japanese business leaders.
Evades reference to China
At an event at the Sacred Heart University in Tokyo on Tuesday, Modi was asked by a student about how peace could be pursued in Asia despite China’s “expansionist” designs. “You seemed to be troubled a lot by China,” he told the questioner, adding that they were asking questions like journalists. Avoiding a direct answer, he merely said, “India is a democratic country. Similarly, Japan is also a democratic country. If India and Japan together think about peace and positive things, we can make the world realise the strength of a democracy. We should focus on progress and development instead of paying attention to others.”