A red carpet, not red tape, awaits Japanese entrepreneurs if they come and set up shop in India, Prime Minister Narendra Modi promised on Tuesday.
Addressing a 2,000-strong gathering organised by the Japan External Trade Organisation (Jetro) and Nikkei, Mr. Modi said India was attractive to Japan on account of three D’s – democracy, demography and demand.
If Delhi was “looking east” then Japan was in a “look at India mood”, the Prime Minister said, stressing that India was an attractive low-cost manufacturing destination for Japanese business.
“There is no other place more suited to you than India,” Mr. Modi said in a clear-cut strategy aimed at wooing Japanese business to India. According to him, India was a “god-gifted location” for Japan to manufacture in.
According to Mr. Modi, as many as 50 cities in India were in line to get new metro projects off the ground. “Have you thought how big this business is?” the Prime Minister asked.
Pointing out that several key decisions had been taken in the first 100 days of his government, the Prime Minister pointed out that 55 per cent items had been freed from legal obligations as far as defence manufacturing was concerned.
If Japan entered the defence manufacturing sector, where 49 per cent FDI is now permitted, Tokyo could also supply the needs of other small countries as well.
The Prime Minister ended with a simple message – come to India and try your luck.
