AMN /
Prime Minister Narendra Modi today said his government had taken decisive steps to remove long-pending concerns of investors. Speaking at Indo-German summit in Bengaluru, Mr Modi said his government has been working very hard to make India a global manufacturing hub.
Mr Modi said, India is on threshold of IT revolution where technology will be leveraged to meet aspirations of 1.25 billion citizens. Saying there is tremendous potential in India-Germany economic collaboration at a time of global slowdown, the Prime Minister said India represents a bright spot for investments.
The Prime Minister said the government was committed to create favourable conditions for business and industry. Mr. Modi said government has fast tracked approvals and clearances for industry and infrastructure. He said FDI inflows have gone up by 40 per cent this fiscal year.
He said comprehensive national Intellectual Property Rights policy is being finalised aimed at protecting Rights of all innovators and entrepreneurs. Prime Minister also said he is hopeful of rolling out GST in 2016.
On the occasion German Chancellor Angela Merkel said around 170 German companies are represented in Bangalore which speaks a lot for the bilateral relationship.
She said German engineering and Indian brilliance in IT is fused here and actually complements each other. Ms Merkel said two countries have great opportunities in field of digitization, infrastructure and energy supply. Ms Merkel said She and the Prime Minister are working together for the reform of the UN Security Council through the G-4.