Photo-caption: PM Narendra Modi’s visit to the USA – September 24th
Tags: 56″ Chest, Young India, 56″ Chest of Young India, FDI, Modi in US Sep 24, FDI destination, FDI in India at $30 bn, China, US, taxation and labour, Bihar election, PM Modi
56″ Chest of Young India emerges top FDI destination leaving behind China, US
Prime Minister Narendra Modi commenced his visit to the United States of America on September 24th. After concluding the historic and memorable visit to Ireland.
@PMOIndia The trans-Atlantic voyage concludes as PM @narendramodi lands in New York. 5:08 AM – 24 Sep 2015
In New York, the first meeting was dedicated to business. Prime Minister Modi held a roundtable meeting with top American CEOs from the financial sector. Fruitful discussions were held in the roundtable and the Prime Minister urged the CEOs to invest in various sectors. He also outlined his vision for “Start-Up India, Stand-Up India.” Shri Narendra Modi highlighted numerous steps being taken by Government to improve business environment in India which has in turn helped raise the FDI and investor confidence
@MEAIndia PM: FDI all over the world has fallen but in India it increased by 40 percent. This reflects confidence in the Indian economy. 6:07 AM – 25 Sep 2015
After a successful visit to the US which witnessed heightened expectations from India in the Silicon Valley in terms of growth in the digital technology and the startups domain, Prime Minister Narendra Modi has been showered now with good news on the FDI and the business confidence index fronts.
@PMOIndia It’s business first…PM @narendramodi at a roundtable on the financial sector in New York. 7:15 PM – 24 Sep 2015
As per Financial Times report, “A ranking of the top destinations for greenfield investments (measured by estimated capital expenditure) in the first half of 2015 shows India at number one, having attracted roughly $3 bn more than China and $4 bn more than the US”.
In fact, the signs of an uptick are visible from last year as the country ranked fifth after China, the US, the UK and Mexico — in 2014 for capital investment. At the end of June 2015, India has attracted $30 bn as against $12 billion in the first half of last year.
@MEAIndia New York engagements kick off with Wall Street. PM @narendramodi with leading CEO’s for a financial sector roundtable
CEOs were very interested in India’s start-up sector. They appreciated steps taken by Government to make business easier.http://nm4.in/1LQaK93
The Prime Minister noted that current era was driven by technology.
@PMOIndia PM @narendramodi at the round table on media, technology and communication. 12:07 AM – 25 Sep 2015
@MEAIndia This is a technology driven era. We are a technology driven society. PM @narendramodi addresses media sector CEO’s 12:40 AM – 25 Sep 2015
The CEOs were enthusiastic about the digital transformation that is taking place in India through the Digital India initiative. Addressing the media sector CEOs, he said that Government of India has been committed to protecting IPR which is essential to fostering creativity. He also spoke about Government’s vision to connect 600,000 villages through broadband connectivity.
@MEAIndia PM @narendramodi: We are committed to protecting IPR which is essential to fostering creativity. 12:45 AM – 25 Sep 2015
@MEAIndia Expanding the bandwidth for Brand India. PM @narendramodi with CEOs for a roundtable on Media, Tech & Communications
@MEAIndia News Corp, 21st Century Fox, Sony, Discovery, Time Warner, A&E, VICE Media… 40 percent of the world’s entertainment industry in one room! 12:35 AM – 25 Sep 2015
Here it should be noted that India is looking attractive not only because the country has improved its business environment significantly, but mostly because China is down and the overall global situation too, is hardly encouraging.If investors are looking towards India, it needs to be taken as an opportunity to be capitalised on to the fullest by finding ways to enhance ease of doing business.
PM Narendra Modi must capitalise on the good news on the FDI and the competitiveness fronts to strengthen the India story by finding ways to facilitate reforms in areas like taxation and labour quickly.
If PM Modi’s charms are attracting foreign investors in India, it has to be supported by changes on the ground also, and he will do well by finding ways to convince other political parties, that obstructions to the necessary reforms like the goods and services tax (GST) can hamper this process.
While he has managed to attract foreign investors to a great extent, PM Modi has failed in managing Parliamentary logjam successfully, and he needs to better his track record quickly here if the success of his foreign visits has to translate into good results on the ground in India.
Even opponents of PM Modi also should accept the reality that he dispensation has a golden opportunity at hand to capitalise on the India growth story.
Prime Minister Modi held extensive talks with various leaders in New York City. He met PM Sheikh Hasina of Bangladesh. Both the leaders expressed happiness at the progress of implementation of the Land Boundary Agreement. Discussions also focused on connectivity, infrastructure, sustainable development goals, and reform of the UN Security Council and other institutions of global governance.
@narendramodi Yet another productive meeting with PM Sheikh Hasina. We discussed India-Bangladesh ties. 10:36 PM – 24 Sep 2015
Shri Modi held a meeting with PM of Saint Vincent and the Grenadines, Mr. Ralph Gonsalves. He thanked Dr. Gonsalves for the support extended by Saint Vincent and the Grenadines towards UNSC reform. The Prime Minister also met President David Arthur Granger of Guyana. President Granger also presented PM Narendra Modi copies of two monographs written by him. The President was appreciative of Indian support for capacity building in the IT sector in Guyana.
@MEAIndia Connecting with an important partner in Latin America. PM @narendramodi meets Prez David Arthur Granger of Guyana 25 Sep 2015
@MEAIndia President Granger presents PM @narendramodi copies of two monographs written by him. 2:04 AM – 25 Sep 2015
@narendramodi Discussed India-Guyana ties with President David Granger & invited him to visit India. 7:36 AM – 25 Sep 2015
Prime Minister Narendra Modi also met heads of various business firms. Shri Modi attended a working dinner where major Fortune-500 CEOs were present. Prime Minister interacted with 42 American CEOs from the manufacturing and infrastructure sectors. The Prime Minister highlighted his commitment for predictable, transparent and accountable governance. Discussions were held on investment opportunities in India. The PM made a strong pitch for ‘Make in India’, ‘Skill India’ and ‘Smart Cities’ initiatives.
@PMOIndia More discussions on business, investment and the economy during the interaction with leading CEOs. 5:39 AM – 25 Sep 2015
Mr. @MikeBloomberg shares his thoughts on several issues with PM @narendramodi during their meeting in New York. 4:03 AM – 25 Sep 2015
@narendramodi Thank you my friend @MikeBloomberg for one more insightful interaction on policy & global issues. 7:33 AM – 25 Sep 2015
Narendra Modi My interaction with Fortune 500 CEOs was on investment opportunities in India & why they must come & ‘Make in India.’
@MEAIndia Business comes calling. Top CEO’s call on PM beginning w/ Ajay Banga, CEO of @MasterCard and Head of @USIBC 2:42 AM – 25 Sep 2015
@MEAIndia A man with many hats says hello. Former Mayor of NYC, entrepreneur, philanthropist @MikeBloomberg calls on the PM- 25 Sep 2015
@MEAIndia Cleared for takeoff. Marillyn Hewson, Chairman of @LockheedMartin discusses aerospace industry w/ PM @narendramodi
@MEAIndia Beginning and ending the day with Business. PM @narendramodi meets with top CEOs at event coordinated by Fortune. 4:51 AM – 25 Sep 2015
@MEAIndia The $ 4.5 trillion club! PM @narendramodi with leading Fortune 500 CEOs at a special event in New York 4:57 AM – 25 Sep 2015
@MEAIndia PM: Reform in governance is my No. 1 priority. We are for simplified procedures, speedy decision making, transparency & accountability
@MEAIndia PM @narendramodi lists sectors opened up for investment; invites CEO’s to Make in India 6:14 AM – 25 Sep 2015
Photo caption: Germany’s Merkel with Modi in Delhi
FDI in India at $30 bn: Narendra Modi may thump his chest to capitalize on the good news on the FDI and the competitiveness fronts to strengthen the India story by finding ways to facilitate reforms in areas like taxation and labour quickly. Bihar assembly election results in November are also as supportive as the FDI and WEF boosters as said by Financial Express of Oct 5, 2015
PM Modi, Merkel agree to fast-track business deals in India: “We see Germany as a natural partner in achieving our vision of India’s economic transformation. German strengths and India’s priorities are aligned,” Modi said after meetings lasting three hours with Merkel, who arrived in the capital on Sunday oct 4, 2015.
Foreign companies have long despaired at India’s levels of taxation, corruption and other obstacles to doing business. But many have welcomed Modi’s efforts to make it a faster and more reliable place to invest.
The two countries signed agreements worth two billion euros ($2.25 billion) on German investment in developing India’s clean energy corridors and solar energy industry, ahead of crucial UN climate change talks late this year.
Governance reform our top priority, Modi tells Fortune 500 CEOs
India has emerged as the most favoured destination for foreign direct investment (FDI) in 2015 so far, outpacing China and the US, London-based business daily Financial Times (FT) said in a report on Tuesday Sep 29, 2015
FDI inflows into India during January-June stood at $31 billion, ahead of China’s $28 billion and the US’s $27 billion, said the FT report under the headline ‘India grabs investment league pole position’.
Another piece of good news is that India has climbed 16 places to the 55th position among 140 economies in this year’s World Economic Forum (WEF) Global Competitiveness Index, after five years of decline. The NDA government would surely hope now that the critical.
“India is tracking well ahead of where it was at this time last year: it has more than double its mid-year investment levels, attracting $30 billion by the end of June 2015 compared to $12 billion in the first half of last year,” it said.
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