We are removing unnecessary regulations: Modi at Hannover

"We are removing unnecessary regulations and simplifying our procedures. We are using digital technology to eliminate multiple approvals and endless wait. We will guide you and walk with you in your projects," he said at the inaugural session of Hannover Messe (fair) on Sunday. 

"We have set up Invest India and country desks in it that will be networked to the states. We will nurture innovation and protect your intellectual property. There were institutions in India that seemed beyond scrutiny. Well, they no longer are. We are reforming institutions in ways that has not happened in decades. We are building a tax regime that is predictable, stable and competitive. We will now address the remaining uncertainties. The Goods and Services Tax is a long needed revolution that is becoming a reality," he said. 

"Today, I come to seek German partnership in my own mission to open up India's seamless economic potential.To the industry of the world that has assembled here today, I say that we have no special bias for our host today! India is open and ready to embrace the world. As I have travelled around the world, I have seen a new level of interest in building partnerships of trade, investment and innovation in India. 

"It mirrors the surge of hope in our own people and industry; the new tide of expectation in our 800 million youth – for opportunities and progress. And, if we want to fulfill 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," Modi said. 

"Whatever we choose to do, from reaching the cutting edge of industry to meeting the most critical social need, we require investment and technology, industry and enterprise. That is why for me, Make in India is not a brand. Nor is it simply a slogan on a smart lion! 

"It is a new national movement. And, it covers the whole spectrum of our government, society and business," he said. 

"What you seek is not just an attractive destination; but, also the assurance that it is open; and, it is easy to reach and work in. You want the confidence that the environment is stable; the rules won't change frequently; and there would be no surprises. So, we have moved with speed, resolve and boldness to fulfill our pledge," said Modi. 

Modi said India is creating a stable economic environment that inspires confidence at home and abroad. "We are pursuing strong fiscal discipline to do that. I know how much Chancellor Merkel will appreciate that point! "

"We have taken sweeping steps to reform our policies and open up more to foreign direct investments in key areas like insurance, construction, defence and railways. Railways is the thread that binds India. It will now be a fast track to India's transformation. And, what was a department of the government is now open o 00% Foreign Direct Investments," he said.
 
He earlier said: "First, I want to thank the city of Hannover and Hannover Messe. They have been most generous in allowing us to unleash our lions in this city. The lions are a symbol of a new India. They roar; but with a message of friendship and promise of partnership, from .25 billion people of India. This is also the message of 15 states, 20 CEOs and 350 companies from India participating in this Fair."

"Your choice of India as a Partner Country reflects the new confidence in India," he said.   



Image: Prime Minister Narendra Modi unveiling the bust of Mahatma Gandhi, at Culemannstrasse, in Hannover, Germany on April 12, 2015. The Mayor of Hannover, Germany, Mr. Stefan Schostok is also seen.