 "PM Narendra Modi pitches for 'Make in India' at Hannover fair in Germany")
PM Narendra Modi and German Chancellor Angela Merkel yesterday inaugurated the Hannover Messe fair, the world's largest industrial fair, at Hannover, Germany. In his inaugural address, Modi made a strong pitch for ‘Make in India’ initiative and urged global CEOs to invest in India, who is the partner country at the trade fair. “Whatever we choose to do, from reaching the cutting edge of industry to meeting the most critical social need, we require investment and technology, industry and enterprise. That is why for me, Make in India is not a brand. It is a new national movement. And, it covers the whole spectrum of our government, society and business.”
Stating the government of India was taking steps to remove unnecessary regulations and simplify procedures, he said, "We are creating a stable economic environment that inspires confidence at home and abroad. We are pursuing strong fiscal discipline to do that. We have taken sweeping steps to reform our policies and open up more to foreign direct investments in key areas like insurance, construction, defence and railways."
According to Modi, the highest priority of the government is to create world class infrastructure. "We have made a sharp increase in public investments. We have established a National Infrastructure and Investment Fund and a new institution for integrated development of this sector. We are launching attractive new financial instruments for long term funds. We seek to fuel our growth with the cleanest and most efficient use of energy. We have set a target of 75 Giga Watts of new capacity for renewable and clean energy in the next seven years. It is a challenging goal- yes; but, important to pursue," he added.
India - as an anchor of economic stability; an engine for growth; and, as a force of peace and stability in the world – offers huge opportunity for global companies. “So, let me invite you to do business and make in India – for India and the world,” said Modi.
Stating the government of India was taking steps to remove unnecessary regulations and simplify procedures, he said, "We are creating a stable economic environment that inspires confidence at home and abroad. We are pursuing strong fiscal discipline to do that. We have taken sweeping steps to reform our policies and open up more to foreign direct investments in key areas like insurance, construction, defence and railways."
According to Modi, the highest priority of the government is to create world class infrastructure. "We have made a sharp increase in public investments. We have established a National Infrastructure and Investment Fund and a new institution for integrated development of this sector. We are launching attractive new financial instruments for long term funds. We seek to fuel our growth with the cleanest and most efficient use of energy. We have set a target of 75 Giga Watts of new capacity for renewable and clean energy in the next seven years. It is a challenging goal- yes; but, important to pursue," he added.
India - as an anchor of economic stability; an engine for growth; and, as a force of peace and stability in the world – offers huge opportunity for global companies. “So, let me invite you to do business and make in India – for India and the world,” said Modi.