Prime Minister Narendra Modi addressed the 41st Annual General Meeting of the US-India Business Council.
PM talked about the strengths of Indian economy and discussed solar energy and digital connectivity with the CEOs.
#USIBC: PM Narendra Modi outlines strengths of Indian economy, discusses solar energy, digital connectivity with CEOs— Doordarshan News (@DDNewsLive) June 7, 2016
$45 billion! John Chambers of Cisco tells PM that USIBC members are on track to invest $45 billion in India pic.twitter.com/r1hDoNNBNy— Vikas Swarup (@MEAIndia) June 7, 2016
PM begins address:
PM began his address by stating that, "I am happy to tell you that today India is poised to contribute as a new engine of global growth. A larger Indian economy has multiple benefits for the world."
India is much more than a market. India is a reliable partner, a source of high quality scientific, engineering and managerial talent: PM— PMO India (@PMOIndia) June 8, 2016
PM on how US and India can partner:
America is not just a country with a great past, it is a country with an exciting future. Indian-Americans are a powerful cementing force in our growing economic and cultural ties.
A partnership between American capital and innovation, and Indian human resources and entrepreneurship can be very powerful.
We are exploring a simpler project licensing approach for defence. We are purchasing 6 nuclear reactors from Westinghouse.
PM on India's reforms:
In 2 years, we have managed to overcome the odds and register an impressive economic performance. We have put in place a number of well thought policies that have positively impacted inflation, fiscal deficit and Balance of Payment current account deficit.
We have imposed carbon tax on fossil fuels and reduced wasteful expenditure through innovative methods and use of technology.
We are encouraging foreign and domestic investors to set up high quality and efficient manufacturing facilities.
For our economy to succeed, we need a strong banking system. Credible bankers have been appointed to helps banks. Private sector professionals have been appointed for the first time.
Jan Dhan Yojana has also transformed the ability of the poor to make and to receive electronic payments. Promoting inclusive growth. PM mentions initiatives including for financial inclusion and social security, particularly in the agriculture sector.
We will continue to have disciplined and prudent macro-economic policies. We will continue to make progress on improving the investment climate and Ease of Doing Business. Its very important for us that developed countries open their markets, not only to goods from countries like India but also to services.
PM on women empowerment:
We have paid special attention to gender justice and to empowering women.
PM on bringing down corruption:
This brings me to an achievement that I think even our worst critics do not dispute. This is the change in levels of corruption.
There has been a significant change in the levels of corruption on account of decisive steps that we have taken.
PM concludes speech:
PM concluded his speech by inviting audience to join in the journey of building a better India, a better America and a better world.
India has begun its journey to a transformed India, which will then lead to a transformed World.
PM concludes,invites audience to join in the journey of building a better India, a better America and a better world pic.twitter.com/Fe64KWmqV9— Vikas Swarup (@MEAIndia) June 8, 2016
PM gets vote of thanks:
PM was given a big thanks and praised for helping US and India business partnership work. He was thanked for bringing courageous global leadership. PM was thanked for his wonderful innovative programmes like Make in India, Digital India, Skill India and others which are brining cheers for the people of India in particular and world in general.