PM Invites Japanese Businesses; Promises Speedy Clearances


TOKYO: Holding that the environment of "disappointment" was over, Prime Minister Narendra Modi today invited Japanese businesses to join India's developmental efforts with a promise of non-discriminatory and speedy clearances and announced setting up of a Special Management Team under PMO to facilitate business from Japan.

Addressing top business leaders of Japan and India here, Modi flagged the recent decisions to liberalize FDI policy in the railways, defense and insurance and said rules and laws are being changed in India which would show results in the near future.

Modi, who has enjoyed immense reputation in Japan as then Gujarat Chief Minister in terms of ensuring the state's progress, said India wants to emulate Japan in terms of quality, zero defect and delivery systems while carrying out skill development.

He underlined the need for closer and deeper cooperation between Japan and India to champion the cause of global "vikas vaad (development) instead of vistar vaad (expansionism)".

"We have to decide if we want to have 'vikas vaad' or 'vistar vaad' which leads to disintegration. Those who follow the path of Buddha and have faith on 'vikas vaad', they develop. But we see, those having ideas of the 18th century, engage in encroachments and enter seas (of others)," he said in comments that may be seen as targeting China which is having conflict over South China Sea with some neighboring countries.

Also Read:
FII Inflows Hit $30bn For 2014
Celebrities Replaced By Products For Endorsements

Source: PTI