Wednesday, October 8, 2014

Benefits India Expected To Gain From Modi's Japan & US Visits !

After becoming the Prime Minister of India Modi is leaving no stone unturned to make India a global icon and marketing the country as the next hub for development where other countries can invest and bound to get good returns. He plans to bring back the lost glory of India and is travelling to different countries to strengthen the bond with them and bring in capital and at the same time make the relationship a healthy one without any quarrels. He has recently visited to Japan and US and met the respective government heads to speak about various burning issues and was successful in negotiating some crucial deals which are important for the development of our country. Let us look at the key takeaways from both the visits.
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Key takeaways from his Japan Visit

During the five-day visit which was his first one outside the subcontinent after becoming PM in May, Modi invited Japanese investments while hard-selling India as a conducive destination for business particularly for the manufacturing sector. He told the Japanese businessmen that India was awaiting the investments with a red carpet as rules and procedures have been eased by his government. Japan has also promised to give USD 35 billion to India over the next 5 years for developmental projects.

Inviting Japanese PM Modi said, "There is no better place than India for Japanese investors. India is one of the most competitive markets in the world. It is important for Japan to move to low cost hubs of manufacturing." Promising a conducive environment for investors, Modi said, "Foreign investors need a proper environment to grow in India. We are working towards improving ease of doing business in India."We have eased off a lot of regulations," Modi sought to assure.
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With Japan committing to fund bullet trains, the dream of running high-speed trains on Indian tracks is now a step closer. Modi's dream project got a big push after Japan expressed readiness to provide financial, technical and operational support to introduce bullet trains in India in a joint statement. The first high-speed train is expected to run between Ahmedabad and Mumbai at an estimated cost of around Rs 60,000-70,000 crores. As Japan is a pioneer in running superfast trains, the agreement is expected to help Modi achieve his dream of a bullet train for India running at a maximum of 300 km per hour.

Modi tried his hands at drums while inaugurating the TCS Cultural Centre. The Prime Minister was inspired after watching the drummers and joined them, much to the amusement of the gathering. Modi joined the ceremonial Japanese drummers to perform a jugalbandi with them as he drummed up support for Indian business in Japan.
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The two countries also decided to enhance cooperation in defence and other strategic areas and also signed five pacts covering defence exchanges, cooperation in clean energy, roads and highways, healthcare and women while vowing to take their relationship to newer level. Japan also lifted ban on six Indian entities including Hindustan Aeronautics Limited (HAL) which had been imposed in the aftermath of 1998 nuclear tests. In Kyoto, a pact was signed under which Modi's Lok Sabha constituency Varanasi would be developed on the pattern of Kyoto 'smart city' with the help of Japan. Abe also announced that as an example of Indo-Japan Cooperation, Tokyo will help India in providing financial, technical and operational support to introduce Bullet trains, a project that Modi has been actively pursuing.

Winding up his official programme Modi expressed gratitude to Japan for reposing trust in India and demonstrating its friendship. "This visit has been very successful," Modi had said at the Indian community reception hosted in his honour here earlier. "There has been talk about billions and millions. But there has never been talk of trillions," he said, referring to 3.5 trillion Yen USD 35 billion or 2,10,000 crore promised by Japan to India through public and private funding over the five years for various works, including building of smart cities and cleanup of the Ganga river" Modi said.
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Quick Highlights of his US Visit

Prime Minister Narendra Modi’s maiden visit to the US was a huge success. The visit was unique as no other Indian leader had ever received such a rapturous welcome. The jam-packed Madison Square Garden in New York on Sunday showed the kind of popularity Modi has gained during his 100-plus days as PM. It was a rock star-like appearance. Modi’s speech clearly showed that how he felt at home in a land that denied him visa for nearly a decade and he played all the right cards to win the audience looked upon him as an ideal.

He made announcements like merger of the Persons of Indian Origin and the Overseas Citizens of India schemes which will make their visit to India easier. Other announcements like lifetime visa, visa on arrival and not having to report to the nearest police station are all a great relief for the NRIs. The launch of the Make-in-India portal, a day before his US visit, was specially designed to invite attention from the Indian Americans, who wanted to connect with the land they belong to and contribute to its growth. He himself admitted that a file in India used to land on 32 tables before it was cleared.
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As China owes its exemplary economic success in some measure to the Chinese settled abroad, who invested in the Chinese economy and set up various projects. Modi has also opened a new avenue for the NRIs to bring the Indian economy back on track. At his meeting with 11 top American chief executives, the prime minister sold India as a prime destination for foreign direct investment (FDI). The country is likely to receive a big boost as some of the CEOs expressed their interest in investing in various sectors. For instance, Laurence D Fink, CEO at Blackrock, one of the world’s largest investment management firms, assured an investment of $6 billion by early next year and another half a billion for setting up a big manufacturing unit for injectable drugs. If all goes well, the breakfast diplomacy may prove to be a success.

From the moment Obama greeted Modi in his Gujarati style, “Kem Cho, Mr. Prime Minister” till the joint homage paid at the Martin Luther King Memorial, it was made amply clear that both have forged a personal, bureaucratic and diplomatic partnership. After the bilateral talks between the two leaders, Modi addressed the media and said the US was an integral part of his “Look East, Link West Policy” and expressed the need for making India a part of the global value chain. He sought support from the US for greater participation of Indian service companies in the US economy.
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By the end of the US visit, Modi had a lot of deliverables in his kitty like development of three smart cities—Allahabad, Ajmer and Vizag—along with the upgrade of water, sanitation and health in 500 Indian cities under a programme called WASH, development of smart energy initiatives such as intelligent street lighting etc., a programme under which 1,000 American teachers will be made available for short-term courses in Indian universities and setting up of a new IIT. What’s more, the two have agreed to extend the defence deal for another period of 10 years. Both have expressed their concern over the sudden outbreak of Ebola and India agreed to spend $12 million.

Modi’s visit to Ground Zero showed India’s commitment towards fighting terrorism. Obama went a step further and agreed to make joint efforts to dismantle terror and crime networks like LeT, D-company, al-Qaeda etc., a message that may not go well with Islamabad. Modi has set a high benchmark by projecting India as a global partner. The US has not shown any reluctance in collaborating with India on matters of strategic importance. It all depends on how and when it resolves issues like nuclear liability, WTO trade facilitation agreement and intellectual property rights before they join hands in their onward march to progress.
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Modi is doing all that it takes to take India to the next level by visiting different countries and luring them to invest in India which will ultimately transform India and help in its development. He has a dream for India and wants to make sure that it is fulfilled. He is on the path to prove to the people of India that they have chosen an able leader and the country is safe in his hands and moving towards development.

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