Promising stability and competitive tax regime, Prime Minister Narendra Modi wooed the investors from Germany and the rest of the world. Inaugurating Hanover Fair 2015 along with German Chancellor Angela Merkel, he gave an assurance to the business heads of addressing the “remaining uncertainties”.
“My message to you (foreign investors) is this: You will find environment that is not only open, but also welcoming. We will make it easy to do business in India. And, we will always be eager to listen to your feedback,” the Prime Minister said addressing the gathering of top business leaders from Germany and other parts of the world. He once again sought the support for his ‘Make in India’ initiative.
Merkel, who led her country out of economic recession, responded by saying that she wanted not only German companies to participate in ‘Make-in-India’ but also ‘Make-in-Germany’ in which Indian companies could participate.
She further emphasised that the two countries will have inter-governmental talks later this year when stock can be taken of whether the problems have been addressed.
“India and Germany need to change ways of doing business,” Chancellor Merkel said.
On a three day visit to Germany, the Prime Minister said he is seeing “a new level of interest” in building partnerships of trade, investment and innovation in India. PM Modi once again laid stress on the need to train youth with skills of the future industry.
“If we want to fulfil the dreams of our youth, we must turn our industry into a manufacturing hub for the world and an engine for employment at home. And, we must equip our youth with the skills to meet the needs of our nation and the demands of the globalised world,” he said.
He said that government of India is looking at clean fuel and has set a target of 75 Giga Watts of new capacity for renewable and clean energy in the next seven years.
“It is a challenging goal, Yes; but important to pursue,” the Prime Minister said.
Addressing the gathering of 20 Indian CEOs and 350 companies in Hanover Fair, he also highlighted his efforts for cooperative federalism to achieve developmental goals.
“The investment journey may begin in Delhi, but its success depends on state capitals and districts,” he said.
PM Narendra Modi also underlined that this was a time of political instability and economic challenges and threats of violence that are increasingly close to homes.
“The humanity needs the solidarity and strength of international partnerships more than ever before,” he said
The inauguration was marked by a cultural programme which showcased cultural diversity of India which is eager to break the walls of poverty.