Modi mantra: Making India the easiest place for doing business

GANDHINAGAR: Putting India on the global investment map, Prime Minister Narendra Modi has promised to make the country the “easiest” destination to do business, which would blend a stable tax regime with a predictable, transparent and fair policy environment.

Unveiling immense possibilities the country’s growing economy offers to the world, Mr Modi, with UN Secretary-General Ban ki-Moon and US Secretary of State John Kerry sharing the dais, assured investors that the government will “hold your hands whenever needed.” “If you walk one step, we will walk two steps for you,” the prime minister said at the 7^th edition of the ‘Vibrant Gujarat’ summit, a biennial show hosted by the Gujarat government since 2003, which has morphed into a must-attend event for top global companies looking to invest in Gujarat and in India.

“This event is perhaps the biggest gathering on earth where a budding entrepreneur has opportunity to see President of the World Bank. We are here as a family, not only in terms of space, but because we recognise that someone’s dream is dependent on someone’s direction. All of us want the planet earth to become a better place to live not only in terms of space, but also because we recognise someone’s dream,” he said at the investors’ conclave in Gujarat’s capital Gandhinagar on January 11.

“India offers you 3Ds – Democracy, Demography and Demand and this is what you are looking for. You will not find all of them (3D’s) together at any other destination of world. We have a large number of hands to work and even a larger number of dreams to be realised,” he said.

Alluding to a resurgence of global interest in the India growth story, the prime minister underlined that “countries are coming forward to work with us and India also wants to work with global leadership on issues ranging from poverty to ecology.”

“In short span of seven months we have been able to change the atmosphere of despair and uncertainty; we are working to revive the economy. The government is committed to creating a policy environment that is predictable, transparent and fair,” said Mr Modi, the progenitor of the Vibrant Gujarat conclave which was ideated and shepherded by him when he was the chief minister of Gujarat in 2003.

The reform-minded prime minister also exhorted the world to collectively work together to to fast-track global economic recovery. “Today, the biggest concern is about the global economy and the government is trying to generate confidence. We will have to change the way we have been approaching problems. Recession is often seen just in the context of business and industry. Have we ever thought of recession as being the result of low per capita income in countries where a majority of global population lives. The best outcome of this event should be inclusiveness and involvement of communities needing care and development.”

The 7^th Vibrant Gujarat conclave has become a headline-hogging event with top global CEOs, ministers and leaders from the US, Europe, Japan, Australia, Israel and Canada, among others, attending the big-ticket show.

Ripe moment, incredible possibilities: John Kerry

US Secretary of State John Kerry struck an upbeat note. “Prime Minister Narendra Modi has already made the name Gujarat synonymous with possibilities, opportunities.”

“Barack Obama is very excited he will be the first US President at Republic Day celebrations. The moment has never been more right to tap the incredible possibilities between our two shared countries,” said Mr Kerry, who last visited India in August to hold the foreign-ministers strategic dialogue in New Delhi.

“I am highly impressed by Prime Minister Modi’s slogan – ‘Participation of all, Development of all’. It sounds like a pretty good slogan for all of us to adopt. And if we adopt it, I think we can get the job done,” he said while referring to Mr Modi’s slogan ‘Sabka Saath – Sabka Vikas.”

The UN chief, on his part, lauded Mr Modi’s smart cities initiative and stressed on “sustainable inclusive solutions.” “I sincerely hope, all world and business leaders and people will be inspired by Gandhi ji’s visions and teachings. I commend PM Narendra Modi’s smart cities initiative and vision of use of renewable energy efficiency. You are here to not only build industrial strength but sustainable inclusive solutions.”

“Let us work together for a better and sustainable world where nobody will be left behind,” he said.

Eliminate Poverty

World Bank President Jim Yong Kim hoped that India will be the leader in eliminating poverty.

“We are the first human generation which can eliminate extreme poverty and India should be the leader in eliminating poverty.”

“India’s economy is expected to grow at 6.6% this year. Tax and subsidy reforms essential for inclusive growth in India. India has potential to be a leader in solar energy production, and the solar sector could be India’s key contribution towards fighting climate change,” said the World Bank chief.

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