Modi pitches 'Make in India', shares economic achievements at Asia meet
The prime minister noted that India's GDP had increased and inflation was down, while addressing leaders at the ASEAN summit.
Prime Minister Narendra Modi asked world leaders to invest in India as he pitched his 'Make in India' initiative at the Association of South East Asian Nations summit in Kuala Lampur on Saturday. He also asserted that India had been doing better since his government came to power, saying the nation's GDP was up and the inflation had come down, while the fiscal deficit is under control, reported ANI.
Modi said, "Foreign investments and tax revenue has gone up while the current account deficit has come down and the rupee is stable. This success is the result of a series of concerted policies. We have entered, for the first time, into a monetary framework agreement with the Reserve Bank to curb inflation." He added that structural and institutional reforms are underway. In a bid to woo foreign investors, Modi also said that his government was working hard on the front of "ease of doing business" by reducing complicated procedures.
Modi met several Asian leaders at the summit on Saturday, including Chinese Prime Minister Li Keqiang. He also met his Japanese counterpart Shinzo Abe on the sidelines of the summit, though the Indian tricolour was embarrassingly hoisted upside down during while they were being photgraphed. Abe said that Indo-Japan ties have the greatest potential of any bilateral relationship in the world.