PM Modi launches "Make in India" plan

“I want to change the culture of mistrust. Trust and faith need are the need of the hour…I can say we have successfully changed the investment climate in the country in last few months. Things will change for the better,” PM Modi told the India Inc, dubbing the initiative as a “Lion step”.

He said that investors need assurance while investing in their business. “I strongly believe that things can be changed with the same old set ups. ‘Make in India’ is not just an invite to investors but the responsibility lies with everyone across the country,” he said, adding that he does not make plans for any political gain.

The PM said that it was sad to see that people were not willing to invest in last 2-3 years. He said with “Make in India” initiative, government expressed faith in the people.

“Who is the government for, it is for every Indian. We need to increase the purchasing power of every citizen by increasing the manufacturing growth. And its benefit should go directly to every youth in the country so that it can help improve their purchasing power,” Modi said. He said that the country’s middle class is set to explode in size.

He pointed out that there should be a government responsibility, much like corporate responsibility, which promotes not just good but “effective and easy” governance.

“No one can question the talent of young India. We are focusing on effective governance on the basis of two things - skilled manpower and digital technology so that information is available at the finger tip,” the PM said.

Talking about the Foreign Direct Investment, he said that FDI is an opportunity for foreigners and it should stand for - First Develop India

“We need not just good but effective governance. And effective governance is also not enough, investors must feel it.