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

News Snippets

  • The government says Covid-19 is still in local transmission stage in India
  • Government scotches rumours of extending the lockdown beyond April14. Says no such plan
  • Centre asks states to give shelter and food to migrant workers to stop them from taking to the streets
  • RBI cuts repo rate by 75 bps, the steepest in 10 years
  • Centre writes to states regarding laxity in monitoring people who had arrived from abroad between January and March
  • Kerala reports a spurt in new cases
  • With 124 fresh cases on Friday, the number of reported cases in India stand at 854
  • Five of a family, including a 9-month-old-baby test positive for Covid-19 in Nadia district in West Bengal on Friday
  • The Pakistani army is reportedly forcibly moving all Covid-19 patients to PoK and Gilgit
  • Untimely azaans in J&K mosques spark panic gathering
  • Stocks rise - Sensex up by 1400 points and Nifty goes above the 8600 mark
  • Rahul Gandhi says the economic package is "the first step in the right direction"
  • The government announces wide-ranging measures to help the poor overcome the economic hardship caused by Covid-19
  • G20 leaders to hold a virtual meeting today to explore ways of fighting Covid-19 in a coordinated manner
  • The Delhi government orders testing of all medical staff after the positive test on a Delhi mohalla clinic doctor
Death toll reaches 27 as Covid-19 cases across India reach 974 on Saturday
oppn parties
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.