Prime Minister Narendra Modi addresses the city of London at Guildhall.
Prime Minister Narendra Modi, who is on a three-day visit to UK, addressed a group of top industry leaders at London's Guildhall, where he emphasised on the three Ds -- Democracy, Demography and Demand -- and Underscored their link to E, which stands for Entrepreneurship. Earlier, he spoke at the Royal Gallery of the British Parliament and held bilateral talks with his UK counterpart David Cameron.
Here are the top five quotes from his speech, delivered in English:
We have been working aggressively to make India an easy and simple place to do business. In ease of doing business India went up 12 places in one go. No other country has made such a great improvement.
Our growth rate last year was 7.3 per cent and the World Bank has very recently projected us at 7.5 per cent this year.
We want to make India a global manufacturing hub. A huge boost to manufacturing needed, its share should reach 25% from 16%. With this in view we have launched the Make in India initiative.
We have taken decisive steps to remove long pending concerns of foreign investors. Measures like transparent auction and allocation of resources has created level playing field.
Early this week we have carried out substantive changes in FDI policy. We have liberalised FDI in various sectors - railways, insurance.
We have also come up with the mechanism of Tax Free Infrastructure Bonds for projects in rail, road and other sectors.
Very radical liberalisation has been done in sectors like plantation, e-commerce and single brand retail. we have brought most of the FDI proposals under the automatic route.
As a result of our initiatives foreign inflows have turned positive. FDI has gone up by 40%. India has been ranked most attractive investment destination by Ernst and Young. India has jumped 16 places on the World Economic Forum's global competitive index.
We have targeted an annual contribution of $3.5 billion in the India Infrastructure Fund. Very soon tax free bonds will become strong instruments for engaging our financial markets.
We have introduced GST bill in Parliament. Hope to see it in 2016.
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