Tuesday, April 16, 2024

‘This is the moment’ to invest in India, Modi tells US biz

In a direct appeal to the US business community, Prime Minister Narendra Modi has said “this is the moment” to invest in India as both the Indian and the US governments have done everything to prepare — “plough” — the ground for them to come, play, and thrive.

The Prime Minister said on Friday that this was the clear message from the technology handshake event at the White House earlier in the day in which he and President Joe Biden met leading CEOs from the US and India, which included Google’s Sundar Pichai, Microsoft’s Satya Nadella, OpenAI’s Sam Alt (of ChatGPT fame), FMC Corporation’s Mark Douglas on the American side, and Reliance’s Mukesh Ambani and Mahindra’s Anand Mahindra.

The event sent a clear message to the companies, the businesses, the manufacturers, the innovators of both countries, and that message is: “This is the moment. This is the moment. The governments of India and America have done the groundwork for you all. You know, like you plough the field, we’ve done that. And whatever else is needed further we will keep doing it for you all. However, it is now your responsibility to wholeheartedly play, wholeheartedly thrive.”

“And the one that plays is the one that thrives,” he added.

Modi was addressing attendees at an event organised at the iconic Kennedy Centre here by the US-India Strategic Partnership Forum, an advocacy group promoting ties between the two countries.

On the stage with Modi were Secretary of State Antony Blinken — their second meeting after the US State Department lunch for the visiting leader — and John Chambers, who is chairman of the USISPF and Chairman emeritus of Cisco.

Modi pressed on with the hard sell, telling business leaders in the audience that they should not let go of this opportunity.

“I assure you that you will find a better environment in India. The ease of doing business is a commitment of our government,” he said to them.

The Prime Minister presented India as a reliable and trusted economic power and player, detailing how it came to the aid of the world during the worst crisis faced by the world in a century — the Covid-19 epidemic.

“When the world needed medicines India enhanced its production and sent medicines to more than 150 countries,” he said, and added, “When the world needed coronavirus vaccines, India increased its production and sent vaccines to more than 100 countries.”

In conclusion, Modi said, “I, once again, invite you all to move forward together in this development journey of India. And I had once said this in my speech from the Red Fort, and I said. That this is the time. And this is the right time.”

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