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Now India is One of The Most Open Countries for FDI: Narendra Modi

Modi had conceptualised the summit as Gujarat Chief Minister in 2003 to position the state as an ideal investment destination after the 2002 riots.

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Prime Minister Narendra Modi on Friday said that his government had made doing business in India easier, cheaper, faster and smarter with his term accounting for almost 45 per cent of the Foreign Direct Investment (FDI) that the country received in the last 18 years.

Speaking at the inaugural function of the Vibrant Gujarat Global Summit 2019 here, he said India was now one of the most open countries for FDI with over 90 per cent approvals put on the automatic route.

“In the last four years, we have received FDI worth $263 billion. This is 45 per cent of the FDI received in last 18 years,” Modi told the gathering.

He said India was among the top 10 FDI destinations.

FDI
PM Speaks on FDI www.news.civilserviceindia.com

Modi, who is on a three-day visit to his home state to throw open his pet biennial Vibrant Gujarat Global Summit, said the India of today was a land of “immense opportunities” being the only place that offered democracy, demography and demand.

“Fifty cities in India are ready to build metro rail systems. We have to build 50 million houses. The requirement of road, rail and waterways is enormous. We want world class technologies to achieve our goal in a faster and cleaner way. India is thus, a land of immense opportunities.” he said.

The Prime Minister said the challenge for India, as in most emerging economies, was to grow horizontally as well as vertically to ensure that the benefits of development spread to regions and communities that have lagged behind while also meeting enhanced expectations in terms of quality of life, quality of services and quality of infrastructure.

“We are well aware that our achievements, here in India, will directly impact one sixth of humanity.”

Modi said his government had removed the barriers which were preventing India from achieving its full potential and now it was ready for business like never before.

The government has made doing business easier. cheaper, faster and smarter, he said.

“In the last four years, we have jumped 65 places in the global ranking of World Bank’s Doing Business Report. From 142 in 2014 to 77 now, but we are still not satisfied. I have asked my team to work harder so that India is in the top 50 next year.

“We have also made doing business cheaper. The historic implementation of Goods and Services Tax and other measures of simplification and consolidation of taxes have reduced transaction costs and made processes efficient.

“We have also made doing business faster through digital processes, online transactions and single point inter-faces,” he said.

According to LocalCircles, each person who voted in the survey is registered with the portal with their detailed information and in many cases they shared their residential address.
Doing business in India now easier, cheaper, faster, smarter: Modi

He said his government had made doing business smarter by insisting on IT based transactions and digital payments including direct transfer of government benefits.

Modi added that he understood that being a young nation, India needs to create job opportunities and better infrastructure, which are both linked with investments.

“Therefore, in recent years, there has been unprecedented focus on manufacturing and infrastructure,” he said.

Listing the achievements of his government, he said for the first time, India had become a net exporter of electricity, had installed transmission lines at an unprecedented pace and had doubled the speed of road construction with rural road connectivity now at 90 per cent.

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“At 7.3 per cent, the average GDP growth, over the entire term of our government, has been the highest of any Indian government since 1991. At the same time,the rate of inflation at 4.6 per cent is the lowest for any Indian government since 1991, when India began its process of liberalisation,” he said.

Modi had conceptualised the summit as Gujarat Chief Minister in 2003 to position the state as an ideal investment destination after the 2002 riots. (IANS)

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BJP Hopeful of Getting its “First Chief Minister” in Jammu and Kashmir

Meanwhile, the BJP which shared power in the state with the PDP for three years from 2015 to 2018, did not get the top post

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BJP, Chief Minister, Jammu and Kashmir
Jammu and Kashmir has seen several Chief Ministers from Congress, National Conference and the People's Democratic Party (PDP). Flickr

The BJP is hopeful of getting its “first Chief Minister” in Jammu and Kashmir following the abrogation of Article 370 from the state two months ago, and the planned delimitation of the Assembly constituencies.

In an interview to IANS, Jammu and Kashmir Bharatiya Janata Party (BJP) chief Ravinder Raina said, “Jammu and Kashmir is a unit. And as President of BJP here, I am confident that we will have a BJP Chief Minister in Jammu and Kashmir very soon.”

Jammu and Kashmir has seen several Chief Ministers from Congress, National Conference and the People’s Democratic Party (PDP).

Meanwhile, the BJP which shared power in the state with the PDP for three years from 2015 to 2018, did not get the top post and had to accept the post of Deputy Chief Minister.

BJP, Chief Minister, Jammu and Kashmir
In an interview to IANS, Jammu and Kashmir Bharatiya Janata Party (BJP) chief Ravinder Raina said, Jammu and Kashmir is a unit. Flickr

When asked about the planned delimitation of constituencies in Jammu and Kashmir, Raina said, “The Election Commission will take a final call on the delimitation of the Assembly constituencies here.”

Raina said the poll panel will constitute a commission, which will be headed by either a retired Supreme Court or High Court judge.

The BJP leader pointed out that the commission which will be constituted for the delimitation process will follow all the standard prodecures.

The government abrogated Article 370 of the Constitution from Jammu and Kashmir on August 5 and also bifurcated the state into two union territories.

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Following the revocation of Article 370, the government has enforced a massive clampdown on communication and internet services in the state and deployed heavy security presence.

To a question over the clampdown for 60 days in the state, the state BJP chief said, “Soon after the abrogation of Article 370 the mobile connectivity and internet facility was suspended here.

“And now you are witnessing that the mobile connectivity and Wi-fi services are given a free hand and people are using those facilities here,” Raina said pointing towards the Wi-fi hotspots and connections provided to the citizens in Jammu.

Pointing towards the Kashmir valley, where only landlines connections and BSNL mobile networks are operating, he said, “In Kashmir valley too, the communication systems whether it is landline connections or BSNL mobile numbers are being operated and are given access.”

BJP, Chief Minister, Jammu and Kashmir
And as President of BJP here, I am confident that we will have a BJP Chief Minister in Jammu and Kashmir very soon. Pixabay

“But there are still apprehensions that Pakistani agents may use the internet facilities to defame and to create mess and try to instigate the youth of the country,” he said on the internet suspension in Srinagar and other districts in the Kashmir valley.

Raina further said that Pakistani elements can instigate the youth and spread venom in the society and that is why preventive measures have been taken. “But soon you shall find all internet facilities will be opened and will be given free access,” he said.

India has on several occasions accused Pakistan of sponsoring terror and allowing its land to be used for terror activities. In recent days, the Indian Army and security forces have foiled terrorists’ attempts to enter Indian territory from the Pakistan side.

On India’s semi-high speed and feature-rich Vande Bharat Express arriving in Jammu from Delhi, he said, “We are thankful to Prime Minister Narendra Modi, Home Minister Amit Shah and Railway Minister Piyush Goyal for providing the best train that is Vande Bharat Express to Jammu and Kashmir after the revocation of Article 370.

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He said “Vande Bharat Express will provide all sorts of relief to passengers that we have seen at the overcrowded railway stations of Jammu Tawi, Katra and Udhampur. It is a big gift for the people of Kashmir,” Raina added. (IANS)