oppn parties Modi Lays The Red Carpet For The Global Business Community

News Snippets

  • Maratha quota bill likely to be tabled in Maharashtra assembly today
  • Arvind Kejriwal skips ED summons for the 6th time, says the case is in court and will follow court's decision
  • PM Modi says UP has gone from 'red tape' to 'red carpet' in 7 years of 'double engine' government
  • Farm unions reject government offers, to resume Delhi march from today
  • Centre says some Aadhar cards in Bengal 'deactivated' due to technical glitz, will be activated back soon
  • Supreme Court stays LS privilege panel summons to Bengal officials over BJP MP Sukanta Majumdar injury case
  • Supreme Court junks Sandeshkhali petition, says it cannot be compared to Manipur, asks petitioner to approach Calcutta HC
  • Supreme Court gets tough on Chandigarh mayoral elections, asks for ballot papers and video footage, does not order re-election
  • Government starts withdrawing old small tax demands, up to Rs 25000 per entry till FY 2009-10 and up to Rs 10000 per entry from FY 2010-11 to FY 2014-15 with an overall ceiling of Rs 1 lakh per tax payer
  • Stocks remained positive on Monday: Sensex gained 281 points to 72708 and Nifty 81 points to 22122
  • Jasprit Bumrah likely to be rested for 4th Test while K L Rahul may be back
  • FIH Pro League hockey: India beat Spain 8-7 in shootout
  • SP leader Salim Sherwani, miffed at no Muslim candidate given RS ticket, quits party
  • Army going for big (Rs 57000cr) upgrade in combat vehicles to replace T-72 tanks
  • Mamata Banerjee says the BJP is doing nothing to resolve the Sandeshkhali dispute but instead fanning the fires to escalate it
History created in Supreme Court as Chandigarh mayoral poll ballots counted in court, judges declare AAP candidate Kuldeep Kumar winner after taking into account the votes defaced by returning officer Anil Masih
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Modi Lays The Red Carpet For The Global Business Community

By A Special Correspondent

Citing the fours Ds of Democracy, Demography, Demand and Decisiveness, Prime Minister Modi made an impassioned pitch for India as the preferred destination for global, especially US businesses, at the Bloomberg Global Business Forum. Modi's pitch assumes great significance due to the the ongoing trade and tariff war between the US and China and the fact that many US businesses are actively seeking to relocate their manufacturing units outside China.

Modi was at his eloquent best when he told the august gathering that "your desires, and our dreams, match. Your technology and our talent can change the world. Your scale and our skill can speed up global economic growth." For good measure, he added that "if there is any gap, I will act as a bridge."

While expressing his government's desire to partner with global businesses to develop India, Modi reminded them that India presented a golden opportunity that they should not ignore. He said "let me tell you, the new government is only three-four month old. I want to assure that this is only the beginning. Still there is a long way to go. In this journey we want to partner with the global business community. This is a golden opportunity for you."

Modi told the gathering that his government had embarked on rapid urbanization where they could have a huge stake. He appealed to the community to invest in the defence sector. He also reminded them that in order to improve ease of doing business, his government had repealed more than 50 archaic laws. Finally, as a masterstroke, he said his government had also reduced corporate taxes, much more on new manufacturing units, and they should take advantage of that.

This was Modi at his best, doing his PR bit for the country. His impassioned plea, coupled with reduced taxes in India and tariff and Trump-related troubles in China could make US businesses take a serious look at relocating to India. If even a dozen big fishes come, Modi's job will be done and his dream of propelling India to a $5 trillion economy in the next five years will be achieved.