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Modi woos foreign investors in ASEAN Business Summit

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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.

 

 

 

 

 

 

 

 

 

 

 

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HP Considering India as a Key Focus Area

India is key focus area, 3D printers next big thing

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HP India
HP unveils 65-inch gaming display with soundbar at CES 2019. Flickr

India is a very attractive market with high brand recognition for a computer hardware producer like HP, said HP Inc’s President for Asia Pacific and Japan, Tian Chong Ng.

The Asia Pacific region — in which India is a key focus area — has been the fastest growing for HP and provided 16 per cent revenue growth last year.

In Q1 of FY2019 it registered 8 per cent growth year-on-year, said Ng in the course of the HP Reinvent 2019 conference, the company’s largest global partner event.

One reason for that is — India – and also the Asia Pacific region — tick marks on demographics trends which provide clear wins for HP: rapid urbanisation and more millennials are joining the work force.

While HP is very positive on India and recognises its potential, there are no plans yet for setting up a manufacturing base in India. Ng said it already has a manufacturing base in China apart from others in Vietnam, Thailand and Japan.

HP
HP. (IANS)

“There is an existing ecosystem in China and we don’t have plans for setting up a manufacturing base in India, he said.

One focus area is the 3D printer, which offers HP great opportunity. Construction and automotive sectors are the focus areas here. Meanwhile, an MoU has been signed with the Andhra Pradesh government.

“To be successful in India demands that we understand it,” he said.

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HP is also pushing gaming in a big way. However, this has not led to any thinking for manufacturing mobile phones in India, despite the high number of gamers in the country spurred by affordable android phones and cheap data.

“Our strength is the PC business and we offer a whole family of products in that space,” Ng said. (IANS)