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Modi wants to make India a manufacturing hub


On Monday speaking at ASEAN Business and Investment summit in Manila prime minister Narendra Modi said, “We want to make India a global manufacturing hub and we want to make our youngster’s job creators.”

The prime minister said that most sectors of the Indian economy are open for foreign investment. He also apprised the audience about his government’s initiatives in the direction of transforming India.

To which he tweeted, “Addressed a business and investment summit, where I highlighted the scope for [email protected] economic cooperation and the reform trajectory in India that makes our nation an attractive investment destination”.

“Task of transforming India is proceeding at an unprecedented scale. We are working day and night towards easy, effective and transparent governance. Digital transactions have increased significantly. We are using technology to reach out to people,” Prime Minister Modi said.

Talking about Pradhan Mantri Jan Dhan Yojna, the Prime Minister said that his government is working in the direction of bringing the last person in the society into the mainstream. To which he added, “Large sections of India’s population did not have access to banking services but with the Jan Dhan Yojana it has transformed the lives of millions.”

The Prime Minister further said that his government is bringing reforms for better and transparent governance.

“Keeping our emphasis on Minimum Government, Maximum Governance, about 1200 outdated laws have been repealed in the last three years. We have simplified processes to start companies and for other clearances,” he said.

“We are working day and night towards easy, effective and transparent governance,” he added.

Inviting the ASEAN countries to ramp up their investment in India he said the task of transforming the country is proceeding at an unprecedented scale.

The ASEAN region along with India together comprises of a combined population of 1.85 billion people, which is one-fourth of the global population and their combined GDP has been estimated at over USD 3.8 trillion.

Investment from ASEAN to India has been over USD 70 billion in the last 17 years accounting for more than 17 percent of India’s total FDI.

India’s investment in ASEAN during the same period has been more than USD 40 billion.

Modi has arrived in the Philippines capital on Sunday for a three-day visit. Earlier in the day, Philippines President Rodrigo Duterte and his wife Honeylet Avancena welcomed the world leaders at the opening ceremony of 31st ASEAN Summit in Manila.

Among the highlights of the opening ceremony was a music and dance excerpt from the musical Rama Hari, based on the characters of the Ramayana, an epic narrative that is a shared heritage among the ASEAN member states.

The performers were Arman Ferrer and Lara Maigue, vocal soloists, Ballet Philippines, choreographed by Alice Reyes, with the Philharmonic orchestra conducted by Herminegildo Ranera.

Before addressing the summit, Prime Minister Modi also met United States President Donald Trump.

After meeting Trump, he told media, “The relations between India and the US are growing. Our relations go further for future interests of Asia and humanity.”

He further added the US and India would come up to the expectations of the world and the US.