Want to make India manufacturing, export hub: Modi

Top Stories

»	49% Indian startups now from tier 2, 3 cities: Jitendra Singh
»	'India ranks 3rd in global startup ecosystem & number of unicorns'
»	Tripura exported over 9K tonnes of pineapples in 2 years
»	CPI inflation eases to 6.71% in July, IIP falls to 12.3%
»	Rupee depreciates 12 paise to close at 79.64 against US dollar

SME Times News Bureau | 13 Apr, 2015
Indian Prime Minister Narendra Modi on Monday said that India has the potential to grow as a global manufacturing as well as an export hub.

"Through "our 'Act East' and 'Link West' policy, India has the potential of becoming the middle ground for East and West as a manufacturing hub that serves both our vast domestic market and becomes a base for global exports and general well-being," said Modii, who is on a two-day visit to Germany, in an Op-Ed piece in Frankfurter Allgemeine Zeitung.

The Indian Prime Minister, however, admitted that "Make in India", the flagship programme of the government to boost manufacturing, requires urgent creation of new infrastructure.

"Our strategy for 'Make in India' requires urgent creation of new infrastructure. The substantial enhancement in financing in the federal budget for highways, railways and energy is a step in this direction. Work has begun on the development of Delhi-Mumbai Industrial Corridor," said Modi.

The Indian Prime Minister also added, "we have re-energised the Indian growth engine".

He said, "My government has pledged a stable and transparent tax regime, reducing corporate taxes and implementing a single Goods and Services Tax in 2016."

In the Op-Ed piece, Modi said, "We have re-energised the Indian growth engine. The credibility of our economy has been restored. India is once again poised for rapid growth and development. It is the only emerging economy where growth rate is rising. The prospects are even better."

"My government has earnestly taken up the challenge of development and economic transformation of India. For us, development is not a mere political agenda; it is an article of faith.

"We have initiated specific policies and actions to realise our vision for New Age India with a clear set of economic goals and objectives. Our focus is not merely economic growth but an inclusive development. This requires creating jobs, upgrading skills, raising productivity, benchmarking quality with global standards. Our aim is to completely eliminate poverty and to propel all Indians into a life of purpose and dignity within a generation."

Modi said he visualised India as a "key engine of global growth".

"I visualize India as a key engine of global growth. Our democratic principles and practices are guarantors of stability. We have a free media and an independent judiciary that allows all opinions to be aired without fear," he said.

"There is no other way forward. Mankind's progress in this century depends on cooperation and collaboration. Conflict is unthinkable. So is poverty which (Mahatma) Gandhi called the worst form of violence," he said.

"If we can take all Indians together into a better socio-economic future, I believe that the world we share will be a better place for all," he added.