FDI means First Develop India: Modi
26 Sept 2014 5:33 AM IST
Launching the initiative, Modi said, Make in India campaign will help in generating huge employment opportunities besides boosting trade and economic growth.
The prime minister said if the poor get jobs, purchasing power of their families will increase. The government has been able to change circumstances that forced businessmen to leave India, he said, adding, the biggest factor to attract investment is to create an atmosphere of trust and an environment amenable to development and growth. He said industries don’t come merely by giving incentives but by creating positive perception.
Speaking on foreign direct invest (FDI), the prime minister said it was an opportunity for people abroad to invest in India and assured industrialists that they will not lose their money in the country.
Modi said his definition of FDI for the people of India is -- First Develop India. Make in India will act as a first reference point for guiding foreign investors on all aspects of regulatory and policy issues and assist them in obtaining regulatory clearances.
Earlier, speaking on the occasion, commerce and industry minister Nirmala Sitharaman said the government wants to make India a global destination for manufacturing and it has a huge potential for it. Speaking at the function, she said government is determined to push the share of manufacturing in GDP to 25 per cent from the present 15 per cent. She said the government has identified 25 sectors in which India can become a global leader.
The move has been backed by the leading business houses including the Tatas with its chairman Cyrus Mistry saying that there is need to reform labour laws in the country and Tata group is committed to invest in India. ICICI Bank chief Chanda Kochhar said the prime minister’s vision is inspiring and the campaign will be the next growth driver for India.
The prime minister said if the poor get jobs, purchasing power of their families will increase. The government has been able to change circumstances that forced businessmen to leave India, he said, adding, the biggest factor to attract investment is to create an atmosphere of trust and an environment amenable to development and growth. He said industries don’t come merely by giving incentives but by creating positive perception.
Speaking on foreign direct invest (FDI), the prime minister said it was an opportunity for people abroad to invest in India and assured industrialists that they will not lose their money in the country.
Modi said his definition of FDI for the people of India is -- First Develop India. Make in India will act as a first reference point for guiding foreign investors on all aspects of regulatory and policy issues and assist them in obtaining regulatory clearances.
Earlier, speaking on the occasion, commerce and industry minister Nirmala Sitharaman said the government wants to make India a global destination for manufacturing and it has a huge potential for it. Speaking at the function, she said government is determined to push the share of manufacturing in GDP to 25 per cent from the present 15 per cent. She said the government has identified 25 sectors in which India can become a global leader.
The move has been backed by the leading business houses including the Tatas with its chairman Cyrus Mistry saying that there is need to reform labour laws in the country and Tata group is committed to invest in India. ICICI Bank chief Chanda Kochhar said the prime minister’s vision is inspiring and the campaign will be the next growth driver for India.
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