New Delhi:
UK PM David Cameron
- We have come from the Palace of Westminster where PM Modi addressed a joint session of Parliament
- One thing is clear India wants a partner to help finance its ambitious plans, it has come to the right place
- But it works both ways. India can help UK achieve its goals
- You want to build 100 smart cities. UK wants to rejuvenate its cities too.
- We want to continue our reputation as the tech centre of Europe
PM Narendra Modi
- It is a great pleasure to be with you this evening. I must confess there has been a delay in my coming to country. But the good news is that me and PM Cameron have been touch, exchanging views
- UK and India have known each other very well since a long time. Our system of governance is based largely on the Westminster model. Our people, businesses share common ground
- That is why UK is a major trading partner. And this is not one sided. India is the third largest source of FDI in UK but there is still significant potential
- We are particularly keen to develop the sectors where UK is strong
- Friends since my government took over, we have been working relentlessly to put the economy on track.
- We have worked aggressively to make India an easy and simple place to do business
- Our growth rate last year was 7.3 per cent and we are projected at 7.5 per cent this year
- In ease of doing business India went up 12 places in one go
- States are moving hand in hand in the space of cooperative and competitive federalism.
- One of the biggest challenges is the employment of the youth. For this manufacturing must be boosted
- We want to make India a global manufacturing hub. We have fast tracked approvals for industry and infrastructure
- Measures like transparent auction and allocation of resources has created level playing field for investors
- We have liberalised FDI in various sectors - railways, insurance. Early this week, we carried out substantive changes in FDI policy
- We have now dropped most of FDI proposal under the automatic route. With this round of reforms, India is one of the most open countries for FDI
- We have tragetted an annual contribution of $3.5 billion in the India Infrastructure Fund
- We have made security and environment clearances. We have articulated we will not participate in retrospective tax measures
- We have also deferred implementation of general avoidance rule for 2 years
- We have introduced GST bill in Parliament. Hope to see it in 2016
- 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 WEF's global competitive index
- In just 18 months we have restored India's credibility among global players
- We are keen to learn from your experience in implementing PPP projects
- India is committed to protect Intellectual Property
- We want your active involvement in transforming our dreams into reality
- We have also launched the Start-up India campaign
- India is on the threshold of a big IT revolution
- Renewable energy is our new mantra
- Never before was India so well prepared to attract talent, investment and technology
- We will be open to welcome you, your ideas, innovation and enterprise
- We are making it easier to invest in India. Further, we are making it even better to Make in India
