The President of Asian Development Bank, Mr. Takehiko Nakao, called on the Prime Minister, Shri Narendra Modi, today. He complimented the Prime Minister on his Independence Day Speech which he termed inspiring. He was particularly touched the Prime
Minister`s emphasis on change, removing silos within Government, improving co-ordination and focusing on results. He said that he is trying to do the same in ADB although it is a much smaller organization. The Prime Minister remarked that his mindset and the ADB President`s mindset are the same.
President, ADB mentioned that India has great potential to grow faster and ADB will be supporting India to reach its potential. The population of India is its biggest plus point and as the cost of manufacturing goes up in other countries, India can capitalize on this for promoting manufacturing.
The Prime Minister remarked that he has had a good experience with ADB in Gujarat in the earthquake reconstruction. He wanted ADB to be a partner in India`s progress. He wanted ADB to think differently so that it can make an impact.
The Prime Minister wanted ADB to give priority to regional connectivity projects which will help the whole region. He also said that this assistance should be additional to current levels of assistance. The Prime Minister wanted ADB to pick up large demonstration projects and demonstrate breakthroughs which then can be rapidly copied. President, ADB said that they are very keen on partnering in the East Coast Industrial Corridor and supporting Smart Cities. He also wanted India`s regulatory system to be improved to make doing business easier.
The Prime Minister asked the President, ADB to come back next year and that he would certainly see an improvement in the doing business indicators. The Prime Minister said that FDI is a focus area which he is committed to.
The Prime Minister said Make in India is not a slogan for improvement but a firm commitment and the country will demonstrate the commitment through action.