PM Modi makes a strong pitch in Tokyo for investment in India
Prime Minister Narendra Modi in Tokyo today reiterated the "Come, Make In India" call he first made in his Independence Day speech. "You please come manufacture and make in India...we will ensure you have whatever you need for that," he said, delivering the keynote address at the Tokyo Stock Exchange.
Mr Modi is on a five-day tour to Japan to strengthen defence, strategic and business ties between Asia's second and third largest economies.
"Just as India is focusing on Look East policy, we expect a Look at India policy from Japan," Mr Modi said to an audience of about 2,000, assuring Japan that "now a red carpet, not red tape, awaits you." He also stressed a massive consumer market and easy access to skilled and cheap labour in India. "There are more than 50 cities in India that are waiting to get metro rail projects... have you ever seen such business in one country in this one sector?" he said.
Mr Modi said India offers three vital 'Ds" -- democracy, demography and demand.
Japan's Prime Minister Shinzo Abe said yesterday that over the next five years, his country will invest nearly 34 billion dollars in infrastructure and other projects in India including the cleaning of the Ganga and the development of smart cities. Japan has also agreed to help India finance and launch high-speed bullet trains.
Mr Modi has guaranteed speedy clearances to Japanese investors, promising the creation of a team within his office that will handle proposals from Japanese industry.