‘Capital does not just grow, it multiplies in India’

Emphasizing the increasing investment of foreign companies in the Indian market, Prime Minister Narendra Modi said on Friday that capital has not grew in India, but it has increased. Addressing the India-Japanese Economic Forum in Tokyo, PM Modi emphasized the economic reforms that made India the fastest growing major economy.

‘Capital is not only growing, it is hit in India’: PM Modi India-Japan Economic Forum

“Jetro (Japan Foreign Trade Organization) says that 80 percent of companies want to expand in India. 75 percent of companies are making profit. In India, capital is growing, just growing and multiplying.” PM said modi. Emphasizing the political and economic stability of India, Prime Minister Modi pointed out that the country will soon be the world’s third largest economy.

“All of you are aware of India’s transformation in the last 11 years. Today, India has political and economic stability. There is transparency and predictability in politics. India is the fastest growing important economy and soon will be the third largest economy of the world. India has a strong banking sector, low inflation and low interest rates.

PM, India’s “reform, realization and transformation” approach is behind this development and emphasizes key plans such as GST and Easy to do business reforms. “Our reform, performance and transformation approach is behind this change. We started a tax on a nation in 2017; now we bring new reforms. We attach importance to the ease of doing business. We have given a single -window approval for businesses.” He said.

Speaking about India-Japanese ties, PM stressed that Tokyo is always part of the new Delhi’s journey of development and noted the Japanese’s investment in India.

“Japan has always been an important partner in India’s development journey. From subway to production, semiconductor, our partnership has been a symbol of trust. Japanese companies have invested more than 40 billion US dollars in India. In the last 2 years, 13 billion US dollars have been private investments.” He said. Prime Minister Modi came to Tokyo on Friday morning and began a two-day official visit to attend the 15th India-Japanese Annual Summit.

PM Modi’s visit to Japan

This points to the first independent visit to the country in about seven years, aiming to deepen binary bonds and develop a special strategic and global partnership with Japan.

The visit comes with the invitation of Japanese Prime Minister Shigeru Ishiba. During the summit, PM Modi will conduct in -depth interviews with the Japanese counterpart, review the progress in multiple areas, and exchange views on regional and global issues in the field of mutual interest.

Following his visit to Japan, he will go to China from August 31 to September 1 to attend the Shanghai Cooperation Organization (SCO) summit in Tianjin.

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