Tuesday January 22, 2019
Home Business Modi woos for...

Modi woos foreign investors in ASEAN Business Summit


By Tarun Pratap and Arka Mondal

New Delhi: Lauding the ASEAN community for its overwhelming success, Prime Minister Narendra Modi called for a united effort to work for the development of the region.

Speaking at the 12th ASEAN summit in Kuala Lumpur on Saturday, Prime Minister Narendra Modi assured foreign investors of all out assistance and cooperation.

Mentioning the availability of a huge available manpower in India, Modi said, foreign investors can make good use of the congenial commerce atmosphere in India.

Stressing on the ‘Make in India’ campaign, Modi said, since the BJP led government took over the reins of government 18 months ago, emphasis was given on reforms to transform the India’s industrial sector to make it business friendly. Despite India’s economy facing numerous challenges, the government was committed to restore credibility, said Modi, adding, the initiatives undertaken in the last few months had increased people’s confidence on India. Indian economy witnessed an upward surge since then, he added.

Inviting ASEAN member nations to develop smart cities in India, Modi said there was a huge investment opportunity in various fields including science, education and technology.

The Indian premier called for a united effort for enhancing cooperation in the areas of medicine, health, climate change, disaster reduction.

Modi also said that everyone should follow the international norms and law to maintain the peace in the south china sea which is critical to the region which includes 1982 United Nations Convention on the law of the sea.

Alike all other foreign visits, Modi upheld the campaign of ‘Make in India’ in Malaysia as well. His address at the ASEAN trade summit was aimed at luring investments and showcasing opportunities in a country aiming to be a leading global manufacturer.












Next Story

Nepal’s Central Bank Announces Ban of Indian Notes Above Rs 100

Currently, only the notes with a denomination of Rs 100 and below are freely exchangeable in Nepal

crop loan
Indian Currency. Pixabay

Nepal’s central bank has announced the ban of Indian currency notes with denominations above Rs 100.

The Nepal Rastra Bank (NRB) on Sunday issued a circular for the institutions licensed by it notifying them about the ban, reports Xinhua news agency.

Authorised to Issue Currency Notes.
Rs. 2000 note was issued by RBI who maynot ahve been Authorised to Issue Currency Notes. Wikimedia.

Nepal’s cabinet in December had decided to ban the use of these currency notes.

The decision to ban these notes has come a time when the NRB has requested the Reserve Bank of India (RBI) arequesting the latter to allow Nepal to use currency notes with all denominations.

Also Read- Sabarimala Tantri Gets More Time to Explain Purification Rituals

Currently, only the notes with a denomination of Rs 100 and below are freely exchangeable in Nepal. (IANS)