Saturday 22 October 2016

'There is No Red Tape, But Red Carpet for Investors in India'

Ajay Kaul/Tokyo
AP Photo/Eugene Hoshiko

Making a strong pitch for bringing Japanese investments into India, Prime Minister Narendra Modi today said there is no "red tape" but only "red carpet" for investors as the government has eased a lot of regulations.

Asserting that his government is working on development and increasing manufacturing activities, Modi said there cannot be a better place to make investments than India.

"I have come to assure you that there is no Red Tape but Red Carpet in India. We have eased off lot of regulations," Modi said.

Calling for a new history between the two countries on the economic front, the Prime Minister said India is the only place where one can find "democracy, demography and demand".

Modi, who was addressing Japanese investors at a seminar organised by the Japan External Trade Organisation (Jetro) and Nikkei here, also said that India guarantees democracy, safety, security and justice.

He told Japanese investors that India is a "god gifted location" for reaching out to global markets.

Referring to his government's 100 days in power, Modi said it has achieved what could not be achieved in the last two-and-a-half years.

The country's GDP grew 5.7 per cent in the April-June quarter, the highest in more than two years.

Modi said his government is ready to offer whatever is required to promote foreign investment into India.

"Without Japan, India is incomplete and without India, Japan is incomplete", he said.

According to him, the coming together of Japan's hardware skills and India's software expertise can create miracle.

© Copyright PTI. All rights reserved. Republication or redistribution of any PTI content, including by framing or similar means, is expressly prohibited without their prior written consent.
Alagiri Surrenders in Land Grab Case, Granted Bail Curfew in Parts of Kashmir, Youth Killed, Toll Rises to 58
Download the Outlook ​Magazines App. Six magazines, wherever you go! Play Store and App Store

Post a Comment

You are not logged in, please Log in or Register
  • Daily Mail

More than a decade after India first started the procurement process, it has finally inked an €8bn agreement to buy 36 Rafale fighter jets from France’s Dassault. The original deal was to buy 126 Rafales to replace the accident-prone Russian MiG-21s. Ultimately, the government offered to buy only 36 ready-to-fly planes.

POLL STARTED ON: Sep 26, 2016
Brazil’s Rio de Janeiro is hosting the 31st Olympic Games from August 5 to 21. This is the first Olympics being held in South America and is going on even as a majority Brazilians are unhappy with their rulers. Here’s a quiz on some random Olympic facts and related trivia.
QUIZ STARTED ON: Aug 11, 2016