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MODI: Creating Transparent India

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Prime Minister Narendra Modi with the Japanese hosts of the Business Luncheon, in Tokyo, Japan

The prime minister said he wants to make India the most open economy in the world….reports Asian Lite News

Prime Minister Narendra Modi with the Japanese hosts of the Business Luncheon, in Tokyo, Japan
Prime Minister Narendra Modi with the Japanese hosts of the Business Luncheon, in Tokyo, Japan

Stressing that strong India-Japan ties will be a “stabilising factor” in Asia and the world, Prime Minister Narendra Modi on Friday said that he wants India to be the “most open economy” in the world.

Modi, who is on a three-day visit to Japan, reached Tokyo on Thursday.

“I have also been saying that India and Japan will play a major role in Asia’s emergence,” he said in a tweet after interacting with business leaders in Tokyo.

The Prime Minister said that Asia has emerged as the new centre of global growth, and it was because of its competitive manufacturing and expanding markets.

Modi praised Japan for its good quality products.

“The very word ‘Japan’ in India symbolises quality, excellence, honesty and integrity,” he said, adding that both the nations must march forward and explore bigger potentials and brighter prospects.

“‘Made in India’ and ‘Made by Japan’ combination has started working wonderfully,” he
said in one of the tweets.

Modi also lauded Japan for being the fourth largest source of foreign direct investment in India.

Modi will attend the annual bilateral summit with Japanese Prime Minister Shinzo Abe later in
the day.

On Saturday, Modi and Abe will travel on the Shinkansen high-speed rail to Kobe.

During Abe’s visit to India last year, Japan committed itself to the development of a high-speed rail link between Mumbai and Ahmedabad.

This is Modi’s second visit to Japan in two years.

Appeal to investors

Wooing Japanese investors, Prime Minister Narendra Modi on Friday said that stable, predictable and transparent regulations are redefining the nature of doing business in India.

He said that Made in India and Made by Japan combination could work towards infrastructure building.

“There are futuristic infrastructure projects of second generation. These include the Dedicated Freight Corridor, the Industrial Corridors, High Speed Railways, Smart Cities, Coastal Zones and Metro Rail projects. All of these offer unprecedented opportunities for Japanese industry,” Modi said.

He was speaking at a business luncheon here organised jointly by Confederation of Indian Industry (CII) and Japan business federation, Keidanren.

“Made in India and Made by Japan combination has already started to work and converge wonderfully,” he added.

Japan stands as the fourth largest source of foreign direct investment (FDI) into India.

Creating an enabling environment for business and attracting investments remains top priority for India with e-governance and new legislation regarding Goods and Services Tax (GST) set to simplify and ease the nature of doing business, Modi said.

Prime Minister Narendra Modi in a group photograph with the CEOs of the India-Japan Business Leaders' Forum, in Tokyo, Japan
Prime Minister Narendra Modi in a group photograph with the CEOs of the India-Japan Business Leaders’ Forum, in Tokyo, Japan