Highlighting the potential of the US-India strategic and commercial partnership, Prime Minister Narendra Modi addressed US-India Business Council’s 41st Annual Leadership Summit on June 7.
Welcoming Prime Minister Modi to the Summit were business leaders of top American companies including: USIBC Chairman John Chambers (Executive Chairman, Cisco); Robert Ford (Abbott), James Taiclet (American Tower Corp); Marc Allen (Boeing); David Cordani (Cigna); Marillyn Hewson (Lockheed Martin); Ajay Banga (MasterCard); Indra Nooyi (PepsiCo), Jeff Bezos (Amazon)and David Dvorak (Zimmer Biomet).
Below are 10 things that he said at US-India Business Council:
1) India as new engine of global growth: PM Modi in his address to the American business community at the annual gala of the US India Business Council (USIBC), said, India is poised to contribute as the new engine of global growth and asserted that a larger Indian economy has “multiple benefits” for the world. “This is the time when the world needs new engine of growth. It would be nice if the new engines are democratic engines.”
2) Come, invest in India: He urged the American businesses to come and invest in India, set up efficient manufacturing units. “India is much more than a market,” he said, adding that it is a “reliable partner”, as he listed out the key features of a resurgent Indian economy that is geared to become “driver of global economy”.
3) India needs to learn from America experience: The Prime Minister said as India marches ahead on the path of development, it needs to learn from the America experience, in particular its entrepreneurship, technological advancement and products which ranges from drugs to drones. America is not just has a great past, but it is a country with an exciting future,” he said.
4) Indo-US partnership to benefit both the countries: PM Narendra Modi exuded confidence that Indo-US partnership would benefit both the countries.
5) Ease of doing business: “We would continue to improve the investment climate and ease of doing business,” the Prime Minister said, adding his government wants to make India a destination which not only welcomes businesses but also it is easier to do business.
6) PM Modi urged developed countries to open their market. “We see this as a win-win situation,” he said.
7) He assured the US corporate world to make its taxation system transparent.
8) India, he said would continue to open up the defence sector. “We are exploring a simpler and transparent licensing system. The purchase of six nuclear reactors from Westinghouse which would mark a new era in the field nuclear energy in India,” the PM said.
9) Clean Ganga campaign is on the verge of taking off. It is a high priority of the Modi government, he said, adding that his aim is to restore Ganga to its pristine glory.
10) Transforming India: “We have begun our journey to transform India,” he said, adding that this would transform the world and other countries also.
(With inputs from PTI)