Reiterating his government’s investor friendly
policies, Prime Minister Narendra Modi said the government must move away
"from the culture of avoid, bypass, confuse and delay" (ABCD) and
move to one of "responsibility, ownership, accountability and
discipline."( ROAD).
Talking at a 'Make in India' event, Modi promised to
address all concerns of investors under his 'Make in India' plan, which aims at
smoothening processes to give a big boost to manufacturing in the country.
Talking of bureaucratic hurdles and red tape that
led to what was called a policy paralysis that depressed investor sentiment,
the PM said "We are ready to change laws, hasten approvals",
suggesting a "public-private partnership also in decision making, not just
in project investments."
He emphasised on "going beyond Make in India
and developing India as a global brand by producing zero defect and zero
environment effect products," saying brand India must reach every corner
of the globe.
The PM also
stressed on balanced growth. Calling for balanced development in the country,
PM Modi said there should be maximum movement of man, material, money, machine
and mineral across the country.
"During the day-long effort, responsibilities
have been fixed, roadmap has been prepared, required changes in policies have
been decided... Now I don't think there is any requirement for paperwork. Now,
things will be implemented automatically," PM Modi said.
Speaking at the same event earlier in the day,
Finance Minister Arun Jaitley pledged to remove entry barriers to business and
ensure a competitive tax regime to push manufacturing growth.
"The entry point into the manufacturing sector
itself has to be eased. Our initial barriers have to be lowered and perhaps
even removed. If we keep the doors closed, investments won't come in," he
said.
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