April 26, 2024 04:29 (IST)
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Modi woos Australia investors promising a different India
Brisbane, Nov 17 (IBNS) Prime Minister Narendra Modi on Monday speaking at a business breakfast in Australia hosted by the Premier of Queensland urged investors to come to a "different" India assuring that the country is eliminating unnecessary laws and regulations and making processes easier and shorter and transparent to do business.
Modi, who is in Australia for the G20 summit, in his speech at the breakfast hosted by Premier Newman said: "We have launched a major set of reforms to boost economic growth and improve the quality of life of people. We have set an ambitious agenda and a brisk pace."
"I know that most of you are aware of the opportunities in India and have looked at the market. You will begin to find a difference in India," said Modi.
"You will no longer have to reach those opportunities through uncertain and unpredictable pathways, crossing hurdles along the way," he assured.
"You will not only be able to convert opportunities into partnerships, you will do it in an environment that is welcoming and easy to do business in," he said.
He said in the area of policy "we have eased foreign direct investment laws in key areas like railways, defence and insurance."
"We have set up a commission to reform railways, which has always been seen as a just another government department – this has never been done before. We have introduced labour reforms. We have made big changes in our policies on fuel – coal, natural gas, diesel," he said.
He said in the area of processes, India is "changing the way we work as government."
"Good Governance is the starting point of change. It is as important to business as it is to ordinary citizens," he said.
He said eliminating unnecessary laws and regulations, making processes easier and shorter, and ensuring that the government is more transparent, India is now focusing on ease of doing business.
"We are partnering with state governments and even going to districts and villages," he said, highlighting digital India campaign and setting up of facilitation cells.
·He said in terms of institutions India has set up a new department for skill development; a special authority for industrial corridors, eBiz Portal for integrated application process – 24x7 and closely monitoring implementation of decisions
He said India also has set up an Expenditure Reform Commission.
Modi said in terms of Initiatives, India has launched Make in India as a new mission to promote manufacturing in India and is set upon creating world class infrastructure.
He said 100 Smart cities; Metro projects for 50 cities; modern waste management system for 500 cities are being pursued.
Modi said affordable healthcare will be within everyone's reach besides sanitation for all by 2019 and a roof over every head by 2022 besides electricity in every household;
He said Clean Energy – with special focus on solar energy- will be the focus besides efforts like water conservation.
He said efforts like clean Ganga Programme , which is also a major urban renewal and environment protection programme, are being made.
"I see great opportunities for our cooperation. Let me highlight some of them. Coal is already a major item of exports to India; but, I see vast potential in resources in general, as Indian industrial sector gathers momentum and grows. We could also commence import of Liquified Natural Gas from Queensland," said Modi.
"You are leaders in many areas of mining and mining technologies, services and equipment, mining consultancy, mine safety, coal washeries and mine management. I invite you to participate in India," he said.
"We have made our policies transparent and predictable. We have made our procedures clearly defined and smooth," assured Modi.
·He said Queensland can also be a partner in strengthening India's food security. "We already import a fairly significant amount of fruits and vegetables and some quantities of fertilizer. What we need is an integrated partnership –joint research to improve yield and farm productivity to development of agriculture supply chain infrastructure and food processing. This is an area of great priority for my government," he said.
On infrastructure, Modi said India aims to invest over a trillion dollars over the next five years.
"Queensland's strengths in advanced areas of technology also offer enormous opportunities for collaboration such as biotechnology and your growing strengths in aviation sector.
We can develop strong synergies in the area of information and communication technology and its every growing application in all areas of life and business. I hope Indian IT companies will enjoy good access. Conversely, Digital India offers enormous opportunities," he said.
He said Queensland can take justifiable pride in its success in the tourism sector. Indian investors would be willing to partner with you, as more and more Indians are drawn to the incredible beauty and hospitality of your state," he said.
"You can participate in India's ambitious plans for smart, sustainable, habitable cities to cater to its growing urban population. It is expected that nearly 11% of the world's urban population in 2025 will be in India," said Modi.
"You can make India a manufacturing hub, for India, for exports and for import back into Australia," said Modi.
Modi urged Queensland to foster closer cooperation in skill development and education; and, research and development. "Your Universities and Research Institutions have already contributed significantly to the growing science and technology relationship between India and Australia. This is particularly true of the collaboration between the two countries under the Australia-India Strategic Research Fund," said Modi.
He said India-Australia relationship is comprehensive, involving economic cooperation, a growing security and strategic partnership and increasing cooperation in international forums, which are vital for peace, stability and prosperity in our region.
"I am keen to hear your views. I will make sure our team here follows up on them," he said.
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