Prime Minister Narendra Modi addressing ASEAN Business Investment Summit in Kuala lumpur
Prime Minister Narendra Modi addressed ASEAN Business investment summit in Kuala Lumpur today.
Here are the highlights- Happy to be here with you. Honorued to be here with leaders who have transformed South Asia into the most dynamic region
- India and Asean are natural partners.
- Macro economic stability main reason for growth and stability in South East Asia
- I complement the leadership and people of ASEAN countries
- Small countries of ASEAN and big country like China both have done well
- Growth depends more on the spirit of people, rather than number of people
- My engagement with ASEAN leaders started as soon as I took over
- My government took charge nearly 18 months ago, India faced many challenges at that time
- We asked ourselves the question - Reforms for what? What is the aim of reform? My answer is clear: we must Reform To Transform
- Reform for me is just a way station on the long journey to the destination. The destination is the transformation of India
- By almost every major economic indicator, India is doing better than when we took office
- GDP growth is up and inflation is down. Foreign investment is up and the CAD is down. Tax revenues are up and interest rates are down
- Macro-economic stability is good. But to transform India, much more needs to be done. We have begun a series of concerted steps
- We have launched a 'Housing for All' program. It involves building 20 million urban houses and 29.5 million rural houses
- Our major ports witnessed 4.65% growth in traffic and 11.2% increase in operating income in 14-15 despite a global contraction in trade
- The pace of award of new highway works has increased from 9 km/day in 13-14 to 23 km/day currently
- IIP in current year shows a distinct improvement over the last year. We are working in all ways to make India a global manufacturing hub
- To re-vitalize the flow of investments, we have launched 2nd wave of reforms. We are trying to further open up the economy
- I want to assure you that India is committed to protect IP Rights of innovators. A National IPR policy is expected by end of the year
- Going further, I want to assure you that India is committed to protect Intellectual Property Rights of all innovators.
- There are immense opportunities in India at ASEAN Business and Investment Summit
- Friends! Most of the ASEAN economies have done their bit for Asia's resurgence. Now, it is India's turn. We know that our time has come.
- I invite you to come and see the winds of change in India. Winds do take time to cross the borders. That is why I am here to invite you