In Singapore, Modi chants development mantra, seeks FDI

SINGAPORE: Addressing a 5000 strong Indian diaspora in Singapore on November 24, Prime Minister Narendra Modi emphasised on the need for Foreign Direct Investment (FDI) to develop India. Hailing the Indian diaspora for their contribution to their respective host countries, Mr Modi said, “The way you merged into every nation you went has been wonderful”. “The entire world is reposing a lot of faith in India today and the reason behind this is not Modi, but the Indians settled abroad,” added Mr Modi.

Emphasising on FDI, Mr Modi said that FDI is First Develop India for him and it is essential to develop the country. “There is an increase in FDI since we have taken office,” said Mr Modi. He also paid tribute to the architect of modern Singapore and the first Prime Minister Lee Kuan Yew and stated that there is a lot India could learn from Singapore. Mr Modi spoke about the renewed confidence in India by investors and said the world looks towards India with great faith.

Here are some excerpts from his speech to the Indian diaspora in Singapore on November 24:

The festival of Deepawali just went by. But I was told Little India has kept the light alive and extended it to a week. My gratitude to all Singaporeans on this. I have come to Singapore earlier. But this is different.
The way you merged into every nation you went has been wonderful
Today the world looks towards India with great faith. You people played great role in this
India is the nation which not only follows but also shows the world the idea that “the whole world is one family”
I came to Singapore to pay my last respects to Lee Kuan Yew, the founding father of Singapore
Singapore is an example of a place where generations saw the nation being taken towards development over 50 years
India has a lot to learn from Singapore. The world is changing, should India not change too?
FDI for the world is “Foreign Direct Investment”, but for me it is “First Develop India”
Foreign Direct Investment (FDI) is needed to First Develop India
There is an increase in FDI since we have taken office
For me railways is not just a mode of transportation. It is also a vehicle for the transformation of India
Today we have entered the global market with our Rupee Bond, until now it was only dollar, pound or gold
GIAN – Global Initiative of Academic Networks, enabling foreign faculty members to teach in Indian institutions.
India’s currency must gain more respect at the world level
We want energy but without damaging the environment
In last 18 months we have entered into uranium supply arrangements with a number of countries – a sign of trust in India.
Solar can become the best source of clean energy for India. Hence our proposal for an International Solar Alliance.
We will always be receptive to the needs of our citizens living abroad
Declaration by UN of June 21 as the International Day of Yoga brought the world together to celebrate yoga as holistic health care.
Should a nation of 125 crore people rely on other nations for defence equipment? Why can’t we make it?
The world has become interdependent. No nation can afford to remain isolated.

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