Wooing German investors, Prime Minister Narendra Modi today promised to make "corrections wherever required" in rules and regulations to make India a global manufacturing hub asserting that India is now a "changed" country.
He also told top German businessmen and industrialists not to go by "old perceptions" but to come to India and feel the change in the regulatory environment.
Modi's pitch for attracting foreign investors to boost his 'Make In India' initiative came at the inauguration of the Indo-German Business Summit at the Hannover Fair where he and Chancellor Angela Merkel opened the India Pavillion.
"India is now a changed country. Our regulatory regime is much more transparent, responsive and stable. We are taking a long-term and futuristic view on the issues," he said.
"At the end, it is my advice to you to come and feel the change in India's regulatory environment. Please do not go by old perceptions.
"Make In India is a need...We are confident that our journey to make India a global manufacturing hub cannot be stopped that too by our own rules and regulations. We must and will make corrections wherever they are required," Modi said to the cheers of the gathered audience that included top CEOs of companies in both the countries.
"Once again I invite you to India. I assure you of my personal attention in your success while you are in India," he said.
Earlier, inaugurating the India Pavillion, Modi said at the India has a huge potential to become a global manufacturing hub and invited the whole world to partner with the fastest growing economy in this endeavour.
Responding to prime minister's remarks, Chancellor Merkel said Germany is trying to forge a very close partnership with India.
"I think Hannover Fair would allow us to turn a new chapter in our relationship. Let me assure you that Germany stands ready to develop this partnership," she said.
