Published On: Mon, Oct 29th, 2018

Engage more with India, Modi tells Japanese businessmen

Tokyo: Prime Minister Narendra Modi on Monday invited Japanese businessmen to engage more with India to speed up the investment process in New Delhi.

Modi said the Japan-backed Delhi-Mumbai industrial corridor project was on track

“I always talk about ‘strong India strong Japan’. On this occasion, I express my gratitude to Japanese businessmen for showing their faith in India. I invite you all to engage with India to speed up the investment process there,” Modi said while interacting at the Business Forum Summit here.

The Prime Minister highlighted “low cost manufacturing” in India as a major benefit for businesses.

Talking about his government’s efforts in the “ease of doing business” front, he said: “India has started ranking its 36 states and Union Territories on the ease of doing business. This has resulted in a healthy competition among them for investment and led to better results.”

On industrial progress, he said India was moving rapidly towards “Industry 4.0” because of inventions in the field of technology like Artificial Intelligence (AI), Internet of Things (IoT), 3D printing and robotics.

Highlighting the achievements of his government in the last four years, the Prime Minister said India was continuously working with the spirit of “Indian Solutions-Global Applications”.

Modi, who arrived here on Saturday for his annual summit with his Japanese counterpart Shinzo Abe, said: “Some years ago, I spoke about making a mini Japan in India. It’s a matter of great happiness for me that today, you are working in an even larger number in India.”

Modi said the Japan-backed Delhi-Mumbai industrial corridor project was on track because of Tokyo’s collaboration.

He said the ‘Make in India’ programme was making India a global hub for electronics and automobile manufacturing.

On the IT sector, he said: “The partnership between our software and your hardware sectors can do miracles.

“I have always kept ease of doing business as my priority. India was at the World Bank’s 140th position in ‘ease of doing business’ when I took (charge) in 2014. Now India has reached the 100th position and we are working towards still better ranking.”

He emphasised on Japanese contribution in creating smart infrastructure to build a ‘New India’.

Coordination between India and Japan in the field of electric mobility would benefit both the countries, he said.

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