Modi: No red tape, now it’s red carpet
Japanese urged to manufacture in India
Hard- selling India as a manufacturing destination a day after Japan announced a $ 35 billion investment, Prime Minister Narendra Modi on Tuesday invited investors to the country, saying the era of “red tape” has now been replaced by a “red carpet”, with ease of doing business and liberalisation.
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- dayold 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, Mr Modi said on the fourth day of his trip, a day after he addressed investors and businessmen Monday at another event.
The Prime Minister 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 lowcost manufacturing. They don’t want high- cost manufacturing. Cheap labour, skilled manpower, ease of business and a liberalised environment. Then it becomes economically viable in India.
“Trillions and trillions of dollars need to be invested in India. The electronic market, specially the mobile handset sector, is a big market with a potential,” he said, adding that his government has put Digital India plans for over a billion people in 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.
Winding up his official programme on the penultimate day of his five- day visit, Mr 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).” He said his Japan trip had been “very successful” and hoped that India’s infrastructure will improve and the country will become clean with the help of $ 35 billion promised by Japan over five years. Speaking at a reception hosted in his honour by the Indian community here, Mr Modi said: “There has been talk about billions and millions. But there has never been talk of trillions.” He was referring to the 3.5 trillion yen ($ 35 billion) promised by Japan to India through public and private funding over five years for various projects, including building of smart cities and cleanup of the Ganga river.
“This is a big achievement. My biggest happiness is that Japan has trusted us,” the Prime Minister said.