Committed to creating favourable conditions for business, says PM Modi at Indo-German summit

Prime Minister Narendra Modi and German Chancellor Angela Merkel on Tuesday took a tour of Bosch’s vocational facility in Bengaluru. The two leaders interacted with students and received a ‘Make in India’ lion model made by apprentices at the facility.

The company showcased its innovative projects and the group’s commitment to skill development in India.

Later, Mr. Modi addressed an Indo-German summit hosted by Indian IT association Nasscom in association with Fraunhofer called ‘Digitizing Tomorrow Together’. Here are some of the top quotes from Mr. Modi’s address:

» We are committed to creating favourable conditions for business and industry.
» We have fast tracked approvals and clearances for industry and infrastructure.
» FDI inflows have gone up by 40 per cent this fiscal year.
» We have expedited regulatory clearances including security and environmental clearance.
» Across the board we have increased the validity period of Industrial Licences.
» We have introduced the GST Bill in parliament; we are hopeful to roll it out in 2016.
» India is committed to protecting Intellectual Property Rights Rights of all innovators and entrepreneurs.
» Moody’s have upgraded India’s rating, India has jumped 16 places on World Economic Forum.
» I have always said the Government has no business to do business.
» India is now at 9th place on UNCTAD’s ranking of investment attractiveness and jumped 16 places on WEF’s global competitiveness index.
» The government is setting up an india investment and infrastructure fund, targeting Rs. 20,000 crore annually.
» We have already assured business that there will be no retrospective tax.
» We have good cooperation with Germany and it is an important partnership. However, it is not fully utilised and is below potential.
» At a time of global slowdown, india represents a bright spot for investments and opportunity
» Talented Indians are not looking for highly paid job. They want to start on ventures.