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Modi promises more reforms; rolls out red carpet to investors

Launch of General Electric's (GE) multi-modal manufacturing facility

Pune: Ahead of the Budget, Prime Minister Narendra Modi today assured more reforms as he rolled out the red carpet to investors, especially the multinationals, inviting them to make use of the large pool of highly talented youth in the country.

“I invite all those who want to participate in the economic development of the country to generate employment for our youth. Your (investors) growth is also linked to our growth,” the Prime Minister said.

“In this age of competitive world, I assure corporates across the world that India is a land where they can find talents which can help them manufacture products that are very competitive,” Modi told a select audience of corporates.

The Prime Minister was inaugurating the multimodal manufacturing facility set up by the American engineering giant GE Corporation.

Calling upon the investors to utilise the talent of large educated youth population, he said, “we have the highest demographic dividend, as 65 per cent of our population are below 35 years. Our talented youth have power to attract investments from across the world. Our skill power can also attract the investors.”

Modi also assured his administration will improve the ease of doing business.

He said the number of clearances for setting up a hospitality venture will be brought down from a massive 110 to just about 20.

“Our government has ensured predictability in our procedures, laws and policies. We have also taken many initiatives towards ease of doing business,” Modi said.

The NDA government will present the first full Budget on February 28 with some analysts wondering whether it would be a complete reform oriented budget following the defeat of BJP faced in the last week’s Delhi elections.

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