Arab Today, arab today indias modi renews plea for manufacturing investment
Last Updated : GMT 15:37:31
Arab Today, arab today
Arab Today, arab today

India's Modi renews plea for manufacturing investment

Arab Today, arab today

Arab Today, arab today India's Modi renews plea for manufacturing investment

Indian Prime Minister Narendra Modi
Mumbai - Arab Today

Indian Prime Minister Narendra Modi renewed his call Saturday for firms to invest in India and turn it into a global manufacturing hub, painting the country as a bright spot for investment in an uncertain world economy.

The right-wing prime minister was addressing a gathering of industry leaders, CEOs and foreign dignitaries in the commercial capital Mumbai to mark the start of Make in India week, which runs until February 18.

The glitzy showcase is part of a drive to convince foreign firms to take advantage of cheap Indian labour and invest in factories in the country as rising wages make traditional hubs more expensive.

"This campaign has the capacity to boost India's economy and also brighten the global scenario," Modi said.

"This century is Asia's century. My advice to you is to make India your centre if you want this century to be your century," he said.

The Hindu nationalist leader faces a huge challenge in persuading foreign companies -- many of which still eye India's labyrinthine bureaucracy, complex regulations and poor infrastructure with suspicion -- to invest in the country.

He is seeking to attract foreign direct investment (FDI) into 25 key sectors, from traditional industries such as leather goods to high-skill areas such as defence manufacturing.

In the speech Saturday, he said FDI had increased 48 percent since his government took power in May 2014, with December recording the highest monthly inflows ever.

Earlier in the day Modi met with foreign leaders including Swedish Prime Minister Stefan Lofven and Finland's Prime Minister Juha Sipila and officials from Germany, Japan and Poland.

The chief minister of Maharashtra, Devendra Fadnavis, said in a speech he sought to turn Mumbai into an international financial services centre, describing his state as a national powerhouse of FDI.

Indian officials often lament their country missing the boat on manufacturing, while China's drive to skill its vast, low-wage workforce to make goods for the West powered its economic boom.

India's gross domestic product grew 7.3 percent in the third fiscal quarter, year-on year, according to statistics ministry data published Monday, retaining its place as the fastest-growing major economy in the world.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today indias modi renews plea for manufacturing investment Arab Today, arab today indias modi renews plea for manufacturing investment

 



Arab Today, arab today
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday