PM Narendra Modi invites Japanese investors to India

Source : Times Now

Wooing Japanese investors with promise of speedy clearances, Prime Minister Narendra Modi on Monday (September 1) proposed co-opting two Japanese nominees in a decision-making team under PMO dedicated to facilitate investments. The Prime Minister also declared that legislative changes will be brought forward to give effect to “bold” decisions taken by his government to allow 100 per cent FDI in railways and raising the FDI cap in defence and insurance sectors.

Accompanied by a high-level business delegation from India, he assured the Japanese businessmen and investors of policy-driven decisions to eliminate delays and invited investment especially in infrastructure and clean energy. Addressing told top business leaders of Japan and India at luncheon hosted by Nippon Kiedanren, the Japanese Chambers of Commerce and Industry and Japan-India Business Cooperation Committee here, he said good governance is his priority.

The Prime Minister said single window-clearances is a significant part of it as he realises the importance of easing business, simplifying procedures, quickening processes and using technology. “I understand well the importance of coordination between government and industry,” he said while noting that he wants to replicate the experiments he made in Gujarat at the national level.

“I have decided a Japan-plus Special Management Team directly under the PMO to absolutely facilitate proposals from Japan. It will be dedicated to this. I also propose that you nominate two people from Japan who would be made part of a team which looks into business proposals and they can be permanently part of our decision-making,” Modi said. Inviting Japanese businesses, particularly to infrastructure and clean energy sectors, the Prime Minister asked them to keep in mind the Gujarat experience.

Modi, who has enjoyed immense reputation in Japan as Chief Minister relating to Gujarat’s progress, said India wants to emulate Japan in terms of quality, zero defect and delivery systems while carrying out skill development. 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 dispute over South China Sea and East China Sea with some neighbouring countries, including Japan.

Viewing business fraternity as a “big driving force” for peace and progress, he said India wants to play a role for benefit of humanity. He told the gathering that he was accompanied on his visit by a “heavy weight” team of business leaders, who “form an important part of India’s progress. We are partners”. The business delegation accompanying him includes Gautam Adani, Chairman of Adani Group, Baba Kalyani, CMD of Bharat Force Limited, Sunil Mittal, Chanda Kochhar, Kiran Mazumdar, Adi Godrej and Sunil Munjal.

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