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India's Modi Articulates Vision for Economic Change
Keywords:
Tags: Women,
Prime minister Modi cites the successful Mars mission "Mangalayan" as showing India's technological capabilities and its ability to do things speedily at very low cost. For foreign investors India offers a stable politcal climate because his party has an absolute majority in parliament and controls many state governments, as well as being a democracy with a vibrant and internet connected young generation. A young population with 55% of the people under age 35 makes India the manufacturing powerhouse of the next two decades, said Modi. And the consumer base of over 1.2 billion people an attractive market. It was a rare combination of hands on salesmanship rarely seen ever on television from a prime minister. In one exceptional response about the condition of women, Modi said he personally led his ministers and legislators through Gujarat state's rural areas house to house in 45 degree centigrade summer heat on June 11-13 school opening days. He did this urging parents to send their daughters to school with the slogan "Send your daughter to school, Save a Girl." The result he said was 100% school enrollment in these rural areas for girls. A rare person at a special moment in India's history pushing the goals of development with uncommon tenacity.
Indian prime minister Modi's speech at the Council of Foreign Relations, September 29, 2014, urging foreign investors to come to India
09/30/2014
In marketing India as a destination for foreign investment India's prime minster Modi emphasized that India was the only country with all three favorable factors - democracy, demographic dividend and demand. India has a population with 55% of the people under age 35. A population of over 1.2 billion mostly younger consumers creating a big pool of demand for many companies. Democracy with coalition governments has been an obstacle for three decades to creating the right framework for legislation on opening the country to foreign investment. Modi's BJP party has an absolute majority in parliament making it possible to take speedy action, with an effort underway to improve its tally of state legislatures it controls. Modi also has a track record of three terms as chief minister in rapidly industrializing Gujarat state. This gives credibility to Modi's plans. He stated that energy was a high priority with a goal of bringing electricity to every village in India in 5 years. A trillion dollars of investment are required in rail which he plans to open up for 100% FDI investment. Manufacturing is a big focus of Modi's plans with the launch of the "Make India" campaign. My country needs millions of jobs Modi told the audience, urging foreign companies to take up his offer. He said the laws and red tape built up from previous Socialist governments would be removed for swift approval of proposals.
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