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Narendra Modi promises Japan better business environment; says being a Gujarati, commerce is in my blood

Monday, 1 September 2014 - 10:11am IST Updated: Monday, 1 September 2014 - 11:30am IST | Agency: dna webdesk
  • Prime Minister Narendra Modi meets with Japan's Foreign Minister Fumio Kishida in Tokyo. Reuters

Prime Minister Narendra Modi began the third day of his five-day state visit to Japan by visiting the Taimei Elementary School in Tokyo, before meeting with Japan's Foreign Minister Fumio Kishida and Trade Minister Toshimitus Motegi.

Modi then attended a business luncheon organised by the Nippon B Keidanren, Japan's Chamber of Commerce and Industry, on Monday, where he delivered a keynote address. 

Inviting Japan to invest in India, Modi promised a better investment environment and speedy decisions. A special team would be set up to facilitate Japanese investments in India, he said, adding that India would seek help from Japan in skill development and research. “India and Japan have a responsibility beyond that of bilateral relations. Indian and Japanese businessmen can give a direction to the world economy. Naturally, expectations from Japan are high as our ties are much older. We also want to work with Japan in the field of research and skill development.”

Holding that the environment of "disappointment" was over, Prime Minister Narendra Modi today invited Japanese businesses to join India's developmental efforts with a promise of non-discriminatory and speedy clearances and announced setting up of a Special Management Team under PMO to facilitate business from Japan.
Addressing top business leaders of Japan and India here, Modi flagged the recent decisions to liberalise FDI policy in the railways, defence and insurance and said rules and laws are being changed in India which would show results in the near future. He said two representatives of Japanese business can be part of an Indian team which decides on business proposals. They can be permanently part of this decision making. 

 

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India and Japan both has a responsibility that went beyond bilateral ties, he told the gathering of business leaders, and added that Indian and Japanese businessmen could give direction to the world economy. The rules were being changed, he said, which would show results in the near future. “We know that businessmen need a good environment to grow and this is our responsibility. The state has to be policy driven. We have given importance to good governance and to processes. We are looking at how to integrate technology with Governance.”

"See the work done in 100 days of my government. Earlier, the GDP used to hover around 5-5.4 per cent and led to an environment of disappointment...But in the first quarter of our government, there has been a growth of 5.7 per cent. It is a big jump. Now there is renewed hope," he said.

“Being a Gujarati, commerce is in my blood so I understand that it is the policymakers and government's responsibility to provide good environment for businessmen,” PM Modi said.

Targeting the previous Manmohan Singh government, he said the situation was bad for one decade. He specifically mentioned the UPA government's 'Go, No-Go' policy with regard to environmental clearances and said it would put anybody in a "dilemma" with regard to taking any decision.

He said India, after 30 years, has a government with full majority, which puts increased responsibility on the government to deliver as 125 crore people of the country have an urge to see the quality of life change.

Targeting the previous Manmohan Singh government, he said the situation was bad for one decade. He specifically mentioned the UPA government's 'Go, No-Go' policy with regard to environmental clearances and said it would put anybody in a "dilemma" with regard to taking any decision.

He said India, after 30 years, has a government with full majority, which puts increased responsibility on the government to deliver as 125 crore people of the country have an urge to see the quality of life change.

He underlined the need for closer and deeper cooperation between Japan and India to champion the cause of global "vikas vaad (development) instead of vistar vaad (expansionism)".
"We have to decide if we want to have 'vikas vaad' or 'vistar vaad' which leads to disintegration. Those who follow the path of Buddha and have faith on 'vikas vaad', they develop. But we see, those having ideas of the 18th century, engage in encroachments and enter seas (of others)," he said in comments that may be seen as targeting China which is having conflict over South China Sea with some neighbouring countries.

Modi is scheduled to call on the Emperor Akihito and meet the country's Defence Minister Itsunori Onodera later on Monday. 

With PTI inputs




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