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BW Businessworld

Indian Policies Transparent, Modi Tells Australian Investors

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Prime Minister Narendra Modi on Monday wooed Australian investors, saying the business environment in the country is "welcoming" and India offers transparent and predictable policies.
"You will begin to find a difference in India," Modi said, asserting that his government is focused on eliminating unnecessary laws and regulations, and making processes easier.
The prime minister was speaking at a breakfast meeting hosted by Queensland Prime Minister Campbell Newman where several Australian business leaders were present.
Modi also said that Queensland can be an important partner in India's development in energy, mineral resources, agriculture and food security, education and advanced technology in some areas.
"We have made our policies transparent and predictable. We have made our procedures clearly defined and smooth," Modi said during the meeting before leaving for Sydney.
"You will not only be able to convert opportunities into partnerships, you will do it in an environment that is welcoming and easy to do business in," he said.
Modi also said that his government has launched "Make in India" as a new mission to promote manufacturing in India.
He also told them about his plans to build 100 Smart cities, 50 metro projects and about the modern waste management system for another 500 cities in India.
Modi talked about the projects like the affordable healthcare within everyone's reach, sanitation for all by 2019, a roof over every head by 2022 and electricity in every household.
Modi also praised Queensland for sending a number of trade missions to India.
"Just this September, there was a Queensland-Gujarat Energy Roundtable in Gandhinagar, the capital of Gujarat. And, I am naturally pleased that Queensland will be participating in Vibrant Gujarat in January 2015 to showcase your infrastructure capabilities", he said.
"I know that you are not partial to Gujarat, but you are sending delegations to Kolkata, Delhi and elsewhere," he said.
"Clean Energy with special focus on solar energy for energy efficiency, he added.
He also lauded the Australian province for allowing a 16 billion dollar investment in coal mining in the state.
The Prime Minister praised Queensland on its success in the tourism sector.
"Indian investors would be willing to partner with you, as more and more Indians are drawn to the incredible beauty and hospitality of your state", he said.
Modi said India-Australia relationship is comprehensive, involving economic cooperation, a growing security and strategic partnership and increasing cooperation in international forums, which are vital for peace, stability and prosperity in our region.