Text of PM’s Remarks to the Business Community in Colombo, Sri Lanka

Published By : Admin | March 13, 2015 | 18:25 IST

Business representatives from India and Sri Lanka,

Distinguished guests,

684-32 PM MODI AT Business Meeting hosted by Ceylon (3)

I am delighted to be here at the Ceylon Chamber of Commerce.

Thank you for coming here in such large numbers.

It is a real honour to visit Sri Lanka.

Over the course of these two days, I will meet people from all walks of life.

For me, this is one of the most important meetings in Sri Lanka.

This is because no matter how old and strong the relationship is, economic cooperation is often the locomotive that gives it momentum.

It is also important because for all of us in our region, the most important priority is transforming the lives of our people.

Our path will be determined by our economic choices and the quality of governance. But, business enterprises will remain critical for our success.

I often say that a nation`s fortunes are linked to its neighbourhood. There are many in India who would argue that India is too large to need her neighbours. There are many in our region who worry that India`s economic size will hurt them.

I disagree with both views.

For one, we all need a stable and peaceful neighbourhood to concentrate on national development.

I also believe that countries do better when the entire region moves together.

I said at the SAARC Summit that barriers of boundaries inhibit progress; international partnerships give it speed. That is why we see a rising tide of regional integration and cooperation across the world.

684-32 PM MODI AT Business Meeting hosted by Ceylon (2)

Our region is rich in resources. We constitute a large market. We complement each other. Therefore, our cooperation can be of huge benefit to all of us. There are already powerful examples in South Asia that show us that difference in size is no constraint to beneficial partnerships, if we use our strengths and seize our opportunities.

Bhutan benefits from hydropower exports to India. Nepal has significant manufacturing exports to India – in part driven by Indian investors. Infrastructure, energy, supply chains, traditional handicrafts, modern manufacturing, tourism and services – there are no limits to our possibilities.

I hardly need to tell this informed audience about the transformation unleashed in India over the past ten months. There is new purpose and clarity in our policies; a new vision for inclusive development; new standards in our governance; and, a new level of energy in our economy. Last quarter, India was the fastest growing global economy. We are confident that we can grow even faster.

The progress of one-sixth of humanity is a major economic opportunity for the world.

The global confidence in India has been restored. The world`s engagement with India is at a new level. But, the first claim on us should be that of India`s neighbours. And, I will be happy if India is a catalyst for economic growth in our own region. That is why I speak of a neighbourhood where trade, investment, ideas and people move easily across the borders.

And, as I said in Kathmandu, Nepal, in November, India will do its part for the region. We will work to integrate our markets more. We will make trade smoother and possible through the most direct routes. We will invest in regional connectivity. And, we will share our capabilities in science and technology with South Asia, from advanced medicines to disaster management or space science.

As a friend and neighbor, we attach the highest importance to Sri Lanka`s economic progress.

Sri Lanka is a nation of many achievements and great strengths. It has education, skills and enterprise. It has an excellent location. And, it has won peace now. Sri Lankan businesses have shown that they can compete with the best in the world. Our garments and tea industry know that!

We are pleased to be Sri Lanka`s largest trading partner and one its largest sources of investment. Our Free Trade Agreement in 2000 was a pioneering initiative in the region. It has given a big boost to our trade. Sri Lanka`s exports to India have grown sixteen times – yes, sixteen times – since then. This is impressive by any standards.

I know there are concerns here about the huge trade imbalance. I am prepared to work with you to address them. I want balanced growth in trade. We will try to make it easier and smoother for you to access the Indian market. That is part of my philosophy of ease of doing business in India. Our agreement on Customs cooperation is a step in that direction.

India is opening up to the world. We offer duty free access to Least Developed Countries, including in South Asia. And, India has Free Trade Agreements with ASEAN and others.

We should ensure that Sri Lanka does not fall behind in the changing and competitive world. That is why India and Sri Lanka should move boldly to conclude a Comprehensive Economic Partnership Agreement. You should also attract investments from India for exports to India. That should be the natural outcome of our proximity and your strengths.

Indian investments can also upgrade and expand your infrastructure. It is also natural that Indian investors are more likely to invest here because of familiarity and proximity. They are already here. And, I know that there are many large commitments in the pipeline. They are looking for your support.

During this visit, I am pleased with progress on Sampur Thermal Power Project and the Trincomalee Oil Farm. That is good for Sri Lanka`s energy security and for our partnership.

Sustainable development of the Ocean Economy can be a huge area for cooperation.

I also believe that when we connect the lives of people, we strengthen the bonds between nations. We have extended visa on arrival facility to Sri Lanka from April 14. We should do more to connect our countries by air and sea.

India and Sri Lanka were, in some ways, better connected in the past than we are now! In the past, a person could buy a rail ticket in Colombo and travel to Chennai by rail and ferry! Air India`s decision to launch direct flight between our capitals will help reverse that trend.

Tourism unites people and creates economic opportunities. India is already the biggest source of tourists here. We will work together to increase that flow.

684-32 PM MODI AT Business Meeting hosted by Ceylon (1)

In conclusion, let me return to the point I had made at the beginning. India`s progress gives us the ability to create opportunities for our neighbours. Our development partnership has injected commitments of 1.6 billion dollars in assistance from India. That has helped rebuild and upgrade infrastructure in Sri Lanka.

Today, we have offered another Line of Credit of about 318 million dollars for the railways sector. Reserve Bank of India has agreed to provide Central Bank of Sri Lanka a currency swap arrangement for 1.5 billion dollars. This will increase the stability of Sri Lankan Rupee.

It is not just in development partnership. We will also be supportive in advancing your commercial interests. I believe in Sri Lanka`s capabilities. We should engage more. We should open up to each other more.

We should move forward with greater belief in our own strengths; more trust in each other; and, with more confidence in the fruits of our partnership.

As I was saying before, Sri Lanka has the potential to be our most important economic partner in the region. We count on your support to make it happen.

Thank you and wish you all the best. Thank you very much.

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The air of Israel has reached here too.

Namaskar!

All journalists of Network 18, all colleagues overseeing this arrangement, all distinguished guests present here, ladies and gentlemen!

You are all discussing Rising India. And in this, your emphasis is on strength within-in simple words, your focus is on the nation’s own inherent capability. In our scriptures it is said: Tat Tvam Asi!-that which we seek in the Brahman is within us, it is us ourselves. The strength lies within us, and we must recognize it. In the past 11 years, India has recognized that very strength, and today the nation is continuously striving to empower it.

Friends,

Strength in a nation does not suddenly emerge; it is built over generations. It is refined through knowledge, tradition, hard work, and experience. But during a long period of history, through centuries of slavery, the very spirit of being strong was filled with inferiority. Imported ideologies instilled deeply into society the belief that we were uneducated and mere followers. Our scriptures say: Yādṛśī bhāvanā yasya, siddhir bhavati tādṛśī-as is one’s belief, so is the accomplishment. When the belief itself was inferior, the accomplishment was also inferior. We copied foreign technologies, waited for foreign approval-this was slavery not just political or geographical, but mental. Unfortunately, even after independence, India could not free itself from this mentality of slavery. And we are still paying the price for it. A fresh example can be seen in the discussions around trade deals. Some people are surprised-how did this happen, why are developed nations so eager to make trade deals with India? The answer lies in a confident India, emerging out of despair and hopelessness. If the country were still stuck in the pre-2014 gloom, counted among the “Fragile Five,” trapped in policy paralysis-who would have made trade deals with us, who would have even looked at us?

But friends,

In the past 11 years, new energy has flowed into the nation’s consciousness. India is now striving to regain its lost strength. Once upon a time, when India had the greatest dominance in the global economy, what was our strength? India’s manufacturing, the quality of Indian products, India’s economic policies. Today’s India is once again focusing on these aspects. That is why we worked on manufacturing, emphasized Make in India, strengthened our banking system, controlled inflation that was running in double digits, and made India the growth engine of the world. It is this strength of India that has developed nations themselves coming forward to make trade deals with us.

Friends,

When the hidden power of a nation awakens, it achieves new milestones. Let me give you some more examples. Whenever I meet heads of government from other countries, they are eager to hear about the immense power of Jan Dhan, Aadhaar, and Mobile. In a country where ATMs arrived much later compared to developed nations, how did India achieve global leadership in digital payments? Where leakage in government aid was accepted as bitter truth, how did India, through DBT, transfer 24 lakh crore rupees-twenty-four trillion rupees-to beneficiaries? India’s digital public infrastructure has today become a subject of global discussion.

Friends,

The world is astonished-how India where until 2014 nearly 30 million families lived in darkness, became one of the top countries in solar power capacity? How did India whose cities had no hope of improved public transport, become the third-largest metro network country in the world? How did India whose railways were known only for delays and slow speed achieve semi-high-speed connectivity with Vande Bharat and Namo Bharat?

Friends,

There was a time when India was only a consumer of new technology. Today, India is also a creator of new technology and is setting new standards. And this has happened because we recognized our own strength-the very strength within you are discussing is an example of this.

Friends,

When we move forward with pride, the way the world looks at us also changes. Remember, just a few years ago, how little global media discussed India’s events. Events in India were not given much importance. And today, see how every action of India is analyzed globally. The AI Summit is an example-it was held right here in this building. More than 100 countries participated. Whether Global North or Global South, all sat together at one table. From large corporations to small startups, all gathered together.

Friends,

In all the industrial revolutions so far, India and the entire Global South were only followers. But in this era of Artificial Intelligence, India is not only a participant in decisions but is also shaping them. Today we have our own AI startup ecosystem, the strength to invest in data centers, and we are working rapidly on the power most needed to store and process AI data. The reforms we have made in the nuclear power sector will also help strengthen India’s AI ecosystem.

Friends,

The organization of the AI Summit was a moment of pride for the whole of India. But unfortunately, the country’s oldest party tried to tarnish this celebration. In front of foreign guests, Congress did not just strip off clothes, but also exposed its ideological bankruptcy. When failure breeds despair and arrogance takes over, such thinking emerges that seeks to defame the nation. Clearly, Congress’s actions have angered the country. To justify its sin, they brought Mahatma Gandhi forward. Congress always does this-when it wants to hide its sins, it puts Bapu forward; when it wants to glorify itself, it gives all credit to one family.

Friends,

Congress has now reduced itself to a mere toolkit of opposition in the name of ideology. This mentality of blind opposition has grown so much that they do not miss any chance to belittle the nation on every stage, every platform. Whatever good happens for the country, whatever auspicious occurs, Congress only knows how to oppose.

Friends,

I have a long list-the new Parliament building was constructed, they opposed it. The lions of the Ashoka pillar atop Parliament-they opposed it. Those whose lions once ran away after eating ordinary citizens’ shoes, were frightened by the teeth of the Parliament’s lions. The Kartavya Path was built, they opposed it. The armed forces carried out surgical strikes, they opposed it. The Balakot air strike happened, they opposed it. Operation Sindoor was conducted, they opposed it. In short, for every achievement of the nation, Congress’s toolkit produces only one thing-opposition.

Friends,

The nation brought down the wall of Article 370, the country rejoiced. But Congress opposed it. We enacted the CAA law-they opposed it. We introduced the Women’s Reservation Bill-they opposed it. We brought a law against triple talaq-they opposed it. We launched UPI-they opposed it. We initiated the Swachh Bharat Mission-they opposed it. The country developed its own COVID vaccine, and even that they opposed.

Friends,

In a democracy, opposition does not mean blind resistance. In democracy, opposition means presenting an alternative vision. That is why the enlightened citizens of the country have been teaching Congress a lesson-not just today, but continuously for the past four decades. What I am about to say, I urge my media colleagues to analyze as well. You will see that Congress’s votes are not being stolen; rather, the people of the country no longer consider Congress worthy of their vote. And this decline began after 1984. In 1984, Congress received 39 percent of the vote and more than 400 seats. In subsequent elections, Congress’s vote share kept declining. And today, Congress’s condition is such that only four states remain where Congress has more than 50 legislators. Over the past 40 years, the number of young voters has increased, and Congress has steadily disappeared. Congress has become a club of people enslaved to one family. That is why first the millennials taught Congress a lesson, and now Gen Z is also ready.

Friends,

Congress and its allies have such a narrow mindset that they have even made long-term vision a crime. Today, when we talk about a developed India by 2047, some people ask-“Why talk about something so far ahead now?” Some even say, “Modi won’t be alive till then.” The truth is that nation-building never happens through short-term thinking. It happens through a grand vision, patience, and timely decisions. Let me present some facts before Network 18’s viewers. Every year, India spends more than 6 lakh crore rupees on freight through foreign ships. On fertilizer imports, we spend 2.25 lakh crore rupees annually. On petroleum imports, we spend 11 lakh crore rupees annually. That means, every year, trillions of rupees are flowing out of the country. If this investment had been directed towards self-reliance 20–25 years ago, today this capital would have been strengthening India’s infrastructure, research, industry, farmers, and youth. Today, our government is working with this very vision. To avoid paying 6 lakh crore rupees to foreign ships, Indian shipping and port infrastructure is being strengthened. To increase domestic fertilizer production, new plants are being set up, and nano-urea is being promoted. To reduce dependence on petroleum, ethanol blending, the Green Hydrogen Mission, solar energy, and electric mobility are being prioritized.

And friends,

We must take decisions today while keeping the future in mind. That is why India is building a semiconductor ecosystem. In defense production, mobile manufacturing, drone technology, the critical minerals sector, and investments therein-we are laying the foundation for economic security in the coming decades. The 2047 goal is not a political slogan. It is also a resolve to correct the historical mistakes where Congress governments failed to invest in time. Today, if we build indigenous ships, produce our own energy, and develop new technologies ourselves, then future generations will not discuss the burden of imports, but the capacity for exports. The progress of a nation is determined not by “today’s convenience” but by “tomorrow’s preparation.” And the hard work done with foresight is the foundation of a self-reliant, strong, and prosperous India in 2047. And no matter how many clothes Congress tears in protest, we will continue to work tirelessly.

Friends,

One very important condition of nation-building is sincerity of intent. Congress and its allies have failed even here. They have never worked with sincerity. They have no concern for the suffering of the poor. For example, in Bengal, the Ayushman Bharat scheme has still not been implemented. If there were sincerity, would they have blocked a scheme that provides free treatment up to 5 lakh rupees for the poor? No. You also know that under the PM Awas Yojana, permanent houses are being built for the poor. Let me give another figure to Network 18’s viewers. In Tamil Nadu, about 9.5 lakh permanent houses have been allocated for poor families-9.5 lakh. But construction of 3 lakh of these houses has stalled. Why? Because the DMK government is not showing interest in building these homes for the poor. And the reason is clear-their intent is not sincere.

Friends,

Let me also give you an example from the agriculture sector. During Congress’s time, farming was left to its fate. Small farmers were ignored, crop insurance was in shambles, the Swaminathan Committee’s report on MSP was buried in files. Congress made announcements in the budget, but nothing happened on the ground-because they lacked sincerity. We began working sincerely for the farmers of the country, and today the world is witnessing the results. Today, India is becoming one of the major agricultural exporters in the world. We have created a safety net for farmers at every level. Through the PM Kisan Samman Nidhi, more than 4 lakh crore rupees have been deposited directly into farmers’ accounts. We set MSP at 1.5 times the cost and made record purchases. Let me give you just one figure-pulses. The UPA government, in 10 years, purchased only 6 lakh metric tons of pulses at MSP-6 lakh metric tons. Our government has already purchased about 170 lakh metric tons of pulses at MSP-nearly 30 times more. Now you decide who truly works for the farmers.

Friends,

The UPA government was also stingy in providing help to farmers through the Kisan Credit Card. In its 10 years, the UPA government gave 7 lakh crore rupees in agricultural loans-7 lakh crore rupees. Whereas our government has given four times more-28 lakh crore rupees. During UPA’s time, only 5 crore farmers benefited from this. Today, the number has more than doubled, reaching nearly 12 crore farmers. That means, for the first time, even small farmers have received help. Our government has also given farmers the protective shield of the PM Fasal Bima Yojana. Under this, about 2 lakh crore rupees have already been provided to farmers in times of crisis. Because we are working with sincerity, the confidence of India’s farmers is rising, their productivity is increasing, and their incomes are growing.

Friends,

A quarter of the 21st century has already passed. The next phase is the decisive period of India’s development. The decisions taken today will determine the direction of the future. We must move forward by recognizing and enhancing our strength. Every individual must aim for excellence in their field, every institution must make excellence its culture. We should not just produce products, but produce best-quality products. We should not just do routine work, but world-class work. We must convert capability into performance. As I said from the Red Fort-this is the time, the right time. This is the time to take India to new heights. Once again, my heartfelt congratulations and thanks to all of you. Namaskar.