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PM Modi jointly inaugurate The ET Asian Business Leaders’ Conclave 2016 with Malaysian PM, Najib Razak
Under the leadership of Prime Minister Najib, Malaysia is moving towards its goal of achieving developed country status by 2020: PM
Close relations with Malaysia are integral to the success of our Act East Policy: PM
The 21st Century is the Century of Asia: PM
India is currently witnessing an economic transformation: PM
We have now become the 6th largest manufacturing country in the world: PM
We are now moving towards a digital and cashless economy: PM
India is currently buzzing with entrepreneurial activity like never before: PM
Our economic process is being geared towards activities which are vital for generating employment or self-employment opportunities: PM
India is not only a good destination. It’s always a good decision to be in India: PM

His Excellency Dato Sri Mohammad Najib, Honble Prime Minister of Malaysia,

Members of the Management of Economic Times,

Business Leaders,

Ladies and Gentlemen!

It is a great pleasure to jointly inaugurate The Economic Times Asian Business Leaders’ Conclave 2016 with His Excellency the Prime Minister of Malaysia.

The fact that the Economic Times has chosen Kuala Lumpur as the venue for this Conclave proves the importance of Malaysia as a commercial and business destination.

My best wishes for the Conclave!

 

Friends.

Under the leadership of His Excellency the Prime Minister, Malaysia is moving towards its goal of achieving developed country status by 2020.

It has also shown resilience in coping with the global economic situation.

The timeless ties between India and Malaysia are reinforced by the presence of a large Indian community.

A recent symbol of our historic links is the Torana Gate in the heart of Kuala Lumpur which connects two great nations and two great cultures.

In recent times, we have forged a Strategic Partnership.

My visit to Malaysia in November last year served to reinforce this strategic engagement across a range of areas.

Close relations with Malaysia are integral to the success of our Act East Policy.

India’s initiatives including a Project Development Fund and Line of Credit have given a huge fillip to India-ASEAN cooperation.

 

Friends.

The leaders of ASEAN countries have led efforts for better integration among the countries of the region.

This initiative to bring the business leaders of Asia together is therefore very timely.

I have said on many occasions that the twenty first century is the century of Asia.

Asia where there are Hands to work, Homes to Consume and Heads have the Humility to learn.

Despite unfavourable and uncertain global economic environment, the growth prospects of the Asian region have been a ray of hope.

 

Friends.

India is currently witnessing an economic transformation.

It is not only one of the fastest growing large economies in the world. It is also marked by initiatives centered around:

- ease of doing business

-making governance transparent and efficient

-reducing regulatory overburden

 

Presently, cleaning the system from black money and corruption is very high on my agenda.

This comes closely after digitisation and introduction of GST.

The outcomes of our efforts are visible from Indias global rankings on various indicators.

India’s rank has gone up in World Bank’s Doing Business Report.

We are fast closing the gap between business practices in India and the best in the world.

We are ranked third in the list of top prospective host economies for 2016-18 in the World Investment Report 2016 released by UNCTAD.

Our rank improved by 32 positions in World Economic Forum’s ‘Global Competitiveness Report 2015-16 and 2016-17’;

We improved 16 places in ‘Global Innovation Index 2016’ and 19 positions in the World Bank’s ‘Logistics Performance Index of 2016’.

We have opened up new sectors for FDI and enhanced caps for existing sectors.

Our concerted efforts on major FDI policy reforms continue, and conditions for investment have been simplified.

The results are there for all to see.

Total FDI inflows in the last two and a half years have touched US Dollars 130 billion.

Highest ever FDI inflows were received during the last year.

The increase in FDI equity inflows in the last two financial years was 52 per cent as compared to previous two financial years.

Sources and sectors in which FDI is coming have also greatly diversified.

Our ‘Make in India initiative which celebrated its second anniversary this year, is aimed at making India a global hub of manufacturing, design and innovation.

I would like to highlight some of our achievements:

We have now become the sixth largest manufacturing country in the world.

Our Gross Value Added in manufacturing has recorded a growth of 9.3 per cent in 2015-16.

51 cold chain projects have been completed in the last two years and six Mega Food Parks have been opened since 2014;

19 new textile parks have been sanctioned and 200 new production units have come up in existing textile parks in the last 2 fiscal years.

This year saw 90 per cent jump in number of mobile phone units manufactured in India;

Leading global players in the auto sector have setup various new assembly lines and Greenfield units.

 

Friends.

Our efforts to ensure Ease of Doing Businessin India have been comprehensive and wide ranging, including legislative and structural.

I am happy to share that:

The constitutional amendment for Goods and Services Tax has been passed.

This is expected to be implemented in 2017.

We are moving towards a digital and cashless economy.

Our licensing regime has been greatly rationalised.

We have launched Single Window Interfaces for registering a business, EXIM clearances and Labour compliance.

Procedures involved in getting utilities like water and electricity are being simplified.

An investor facilitation cell has been created to guide and assist the investors.

Our partnership with the State Governments has also enhanced considerably since the launch of Make in India.

In association with the World Bank, the States were ranked on the basis of their business policies and procedures on agreed parameters in 2015.

This was further expanded in 2016.

We have adopted for the first time ever, a comprehensive National Intellectual Property Rights policy to lay a future roadmap for intellectual property.

We have also taken major steps to kick-start the process of ‘creative destruction’.

We are making it easier for companies to restructure and exit.

The enactment and implementation of the Insolvency and Bankruptcy Code is a crucial step towards ease of exit in India.

New Commercial Courts are being set up to fast track resolution of commercial disputes.

Arbitration laws have also been amended to fast track the proceedings.

 

Friends.

India is currently buzzing with entrepreneurial activity like never before.

Start-ups are the next big economic force in India and are no less than a revolution.

Our Start-up India program aims to unleash our potential in this area.

Our economic process is being geared towards activities which are vital for generating employment or self-employment opportunities.

This is the only way to reap the demographic dividend.

Through the Skill India initative and its various components, we are trying to synergise the skills to the market requirements.

Building futuristic infrastructure is the biggest task at hand.

We are developing a pentagon of industrial corridors across the country.

There is immense focus on removing the logistic constraints across the country.

Roads, railways, ports are being upgraded across the country.

To finance such infrastructure, we have set up the National Investment and Infrastructure Fund in collaboration with foreign funds.

 

Friends.

This is a time for integration.

 Integration cannot happen without openness.

 India has always been open at the heart.

Now, at the level of economy also, we are among the most open and integrated economies.

We welcome those who are not there in India so far.

 I personally assure you that I shall be there when you need me.

 India is not only a good destination;

 It is always a good decision to be in India.

Thank You!

সেবা অমসুং সমর্পনগী চহি 20 তাক্লিবা ফোতো 20
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PM to inaugurate and lay foundation stone of multiple projects worth around Rs 18,000 crore in Dehradun on 4th December
December 01, 2021
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Projects in line with vision of PM to boost connectivity and enhance accessibility to areas which were once considered far-flung
Delhi-Dehradun Economic Corridor will reduce travel time to 2.5 hours; will have Asia’s largest wildlife elevated corridor for unrestricted wildlife movement
Road projects being inaugurated will provide seamless connectivity in the region, including to Chardham, and boost tourism
Lambagad landslide mitigation project in the chronic landslide zone will make travel smooth and safer

Prime Minister Shri Narendra Modi will visit Dehradun and inaugurate & lay the foundation stone of multiple projects worth around Rs 18,000 crore on 4th December, 2021 at 1 PM. A significant focus of the visit will be on projects to improve road infrastructure, which will make travel smooth and safer, and also increase tourism in the region. This is in line with the vision of the Prime Minister to boost connectivity in the areas which were once considered far-flung.

Prime Minister will lay the foundation stone of eleven development projects. This includes the Delhi-Dehradun Economic Corridor (from Eastern Peripheral Expressway Junction to Dehradun) which will be built at a cost of around Rs 8300 crore. It will significantly reduce the travel time from Delhi to Dehradun from six hours to around 2.5 hours. It will have seven major interchanges for connectivity to Haridwar, Muzaffarnagar, Shamli, Yamunagar, Baghpat, Meerut and Baraut. It will have Asia’s largest wildlife elevated corridor (12 km) for unrestricted wildlife movement. Also, the 340 m long tunnel near Dat Kaali temple, Dehradun will help reduce impact on wildlife. Further, multiple animal passes have been provided in the Ganeshpur-Dehradun section for avoiding animal-vehicle collisions. The Delhi-Dehradun Economic Corridor will also have arrangements for rainwater harvesting at intervals of 500 m and over 400 water recharge points.

The greenfield alignment project from Delhi-Dehradun Economic Corridor, connecting Halgoa, Saharanpur to Bhadrabad, Haridwar will be constructed at a cost of over Rs 2000 crore. It will provide seamless connectivity and reduce travel time from Delhi to Haridwar as well. The Haridwar Ring Road Project from Manoharpur to Kangri, to be built at a cost of over Rs 1600 crore, will give a respite to residents from traffic congestion in Haridwar city, especially during peak tourist season, and also improve connectivity with Kumaon zone.

The Dehradun - Paonta Sahib (Himachal Pradesh) road project, to be constructed at a cost of around Rs 1700 crore, will reduce travel time and provide seamless connectivity between the two places. It will also boost inter-state tourism. The Nazimabad-Kotdwar road widening project will reduce travel time and also improve connectivity to Lansdowne.

A bridge across River Ganga next to the Laksham Jhula will also be constructed. The world renowned Lakshman Jhula was constructed in 1929, but has now been closed due to decreased load carrying capacity. The bridge to be constructed will have provision of a glass deck for people walking, and will also allow light weight vehicles to move across.

Prime Minister will also lay the foundation stone for the Child Friendly City Project, Dehradun, to make the city child friendly by making the roads safer for their travel. Foundation stone for projects related to development of water supply, road & drainage system in Dehradun at a cost of over Rs 700 crore will also be laid.

In line with the Prime Minister’s vision to develop smart spiritual towns and upgrade tourism related infrastructure, the foundation stone for infrastructure development works at Shri Badrinath Dham and Gangotri-Yamunotri Dham will be laid. Also, a new Medical College in Haridwar will be constructed at a cost of over Rs 500 crore.

Prime Minister will also inaugurate seven projects, including those which focus on making travel safer by tackling the problem of chronic landslides in the region. Amongst these projects are the landslide mitigation project at Lambagad (which is en-route the Badrinath Dham), and chronic landslide treatment at Sakanidhar, Srinagar and Devprayag on NH-58. The Lambagad landslide mitigation project in the chronic landslide zone includes construction of reinforced earthwall and rockfall barriers. The location of the project further adds on to its strategic significance.

Also being inaugurated are the road widening project from Devprayag to Srikot, and from Brahmpuri to Kodiyala on NH-58, under Chardham road connectivity project.

The 120 MW Vyasi Hydroelectric Project, built over River Yamuna at a cost of over Rs 1700 crore, will also be inaugurated, along with a Himalayan Culture Center at Dehradun. The Himalayan Culture Centre will house a state level museum, 800 seat art auditorium, library, conference hall, etc. which will help people follow cultural activities as well as appreciate cultural heritage of the State.

Prime Minister will also inaugurate the State of Art Perfumery and Aroma Laboratory (Centre for Aromatic Plants) in Dehradun. The research done here will prove useful for production of a variety of products including perfumes, soaps, sanitizers, air fresheners, incense sticks etc., and will lead to establishment of related industries in the region as well. It will also focus on development of high yielding advanced varieties of aromatic plants.