Asean has done its bit for Asia’s resurgence, it’s India’s turn now: PM Modi

KUALA LUMPUR: Prime Minister Narendra Modi said on Saturday that “most Asean economies have done their bit for Asia’s resurgence and now it is India’s turn to make the 21st century an Asian century.”

“India and Asean (Association of Southeast Asian Nations) are natural partners. Our ties date back to ancient times,” Modi said while addressing the Asean business and investment summit in Kuala Lumpur.

“I have been saying that the 21st century belongs to Asia. I say this because of the track record of Asean countries,” PM Modi said amid loud applause.

The PM said there is increased confidence about India.

He said India was doing well in almost every economic indicator. “By almost every economic indicator, India is doing better than we (NDA government) took office 18 months ago,” Modi said.

“The IMF and World Bank have expressed even better hope for our economy this year and after,” PM said.

“India is a land of immense opportunities,” he said. “Our democratic values and an alert judicial system ensure the safety of your investments. We have set the tone of governance with a long term vision and an open mind. We are particularly working to make India the easiest place to do business.”

“And we know that our time has actually come. We are at a take-off stage. I invite you to come and see the winds of change in India,” he said.
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Reform to transform

With slew of measures putting back the economy on track, Prime Minister Narendra Modi said reforms are “just a way station” to transforming India and vowed to provide a transparent and predictable tax regime.

“Reform is not an end in itself. Reform for me is just a way station on the long journey to the destination. The destination is the transformation of India,” he said.

When the BJP-led government took office in May 2014, the economy faced serious challenges in high fiscal and current account deficit, stalled infrastructure projects and persistent inflation.

“It was obvious that reforms were needed. We asked ourselves the question – Reforms for what? What is the aim of reform? Is it just to increase the measured rate of GDP growth? Or is it to bring about a transformation in society? My answer is clear: we must ‘reform to transform’,” he said.

India committed to protect IPRs

India is committed to protect intellectual property rights of all innovators, PM Narendra Modi said.

“IIP (Index of Industrial Production) in current year shows a distinct improvement over the last year. We are working in all ways to make India global manufacturing hub,” he said.

“Going further, I want to assure you that India is committed to protect the intellectual property rights of all innovators,” Modi said.

(With inputs from agencies)

Read this in Marathi: ‘२१वे शतक आशियाचे, भारताची भूमिका महत्वाची’

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