Dr. Syama Prasad Mookerjee Research Foundation

Salient Points of PM Modi’s remarks at The Economic Times Asian Business Leaders’ Conclave in Kuala Lumpur on 14 Dec, 2016

  • Fact that ET has chosen Kuala Lumpur as the venue for this Conclave proves importance of Malaysia as a commercial & business destination
  • The timeless ties between India and Malaysia are reinforced by the presence of a large Indian community
  • A recent symbol of our historic links is Torana Gate in the heart of Kuala Lumpur which connects two great nations & two great cultures
  • Close relations with Malaysia are integral to the success of our Act East Policy
  • India’s initiatives including a Project Development Fund and Line of Credit have given a huge fillip to India-ASEAN cooperation
  • The leaders of ASEAN countries have led efforts for better integration among the countries of the region
  • The 21st Century is the Century of Asia
  • Asia is where there are Hands to work, homes to consume and heads have the humility to learn
  • Despite unfavourable and uncertain global economic environment, the growth prospects of Asian region remain bright
  • India is currently witnessing an economic transformation
  • Presently, cleaning the system from black money and corruption is very high on my agenda
  • The outcomes of our efforts are visible from India’s global rankings on various indicators
  • We have opened up new sectors for FDI and enhanced caps for existing sectors
  • Our concerted efforts on major FDI policy reforms continue and conditions for investments have been simplified
  • Total FDI inflows in the last two and a half years have touched US Dollars 130 billion
  • The positive change in policy, regulatory and investment environment in India is recognized by both domestic and foreign investors
  • ‘Make in India’ which celebrated 2nd anniversary this year, is aimed at making India a global hub for manufacturing, design & innovation
  • We have now become the 6th largest manufacturing country in the world
  • Our efforts to ensure ease of doing business in India have been comprehensive and wide ranging, including legislative and structural
  • The constitutional amendment for Goods and Services Tax has been passed. This is expected to be implemented in 2017
  • We are now moving towards a digital and cashless economy
  • Our licensing regime has been rationalised greatly
  • We have launched Single Window Interfaces for registering a business, export-import clearances and Labour compliance
  • India is currently buzzing with entrepreneurial activity like never before
  • Start-ups are the next big economic force in India and are no less than a revolution
  • Our economic process is being geared towards activities which are vital for generating employment or self-employment opportunities
  • Building futuristic infrastructure is the biggest task at our hand. We are developing a pentagon of industrial corridors across India
  • There is immense focus on removing the logistics constraints. Roads, railways, ports are being upgraded across the country
  • This is a time for integration…at the level of economy also, we are among the most open and integrated economies
  • We welcome those who are not in India so far
  • India is not only a good destination. It’s always a good decision to be in India
  • India is buzzing with entrepreneurial activity. Start-ups are the next big economic force here…it is a great time for investing in India.