This is the best time to be in India: PM
Thailand 4.0 is complementary to India’s priorities and offers significant opportunities of partnerships: PM
Commerce and Culture have power to bring the world closer: PM
Prime Minister Shri Narendra Modi attended the celebrations marking 50 years of operation of Aditya Birla Group in Thailand today. Chairman of the Aditya Birla Group, Shri Kumar Mangalam Birla, expressed his gratitude to the Prime Minister for joining the Group’s Golden Jubilee Celebrations in Thailand.
Addressing the gathering of Government officials and industry leaders, the Prime Minister congratulated the team of the Aditya Birla Group for their commendable work which has led to creation of opportunities and prosperity for many. Talking about the strong cultural linkages between India and Thailand, he said commerce and culture have inherent power to unite and bring the world closer.
Transformative Changes in India
Prime Minister shared several success stories of the government in the last five years. He said that transformative changes have been possible by breaking routine and working in mission mode. What was previously considered impossible is now considered possible and therefore, this is the best time to be in India.
Prime Minister highlighted that India has jumped 79 places in World Bank’s Ease of Doing Business rankings in last 5 years – from 142 in 2014 to 63 in 2019, which reflects commitment to reforms to make business environment better. He also stated that on World Economic Forum’s Travel and Tourism Competitiveness Index, India’s ranking has improved from 65 in 2013 to 34 in 2019. Provision of comfort, convenience and safety through better roads, connectivity, cleanliness and improved law & order has resulted in foreign tourist arrivals increasing by up to 50%.
Stating that money saved is money earned and energy saved in energy generated, Prime Minister talked about plugging leakages and improving efficiency through Direct Benefit Transfer scheme which has resulted in saving of 20 Billion Dollars so far. He also talked about distribution of energy efficient LED lights which has also reduced carbon emissions.
India: An attractive destination for investment
Calling India one the most people friendly tax regimes, Prime Minister highlighted recent steps including lower tax burden on middle class, starting faceless tax assessment to remove scope of harassment, corporate tax rate cut. He said that the introduction of GST has made the dream of economic integration a reality, adding that government is committed to make it more people friendly. All these steps have made India one of the most attractive destinations for investment reflected in the country being among the top 10 FDI destinations as per UNCTAD.
Complementarity with Thailand 4.0
Prime Minister talked about the dream of making India a 5 trillion dollar economy and highlighted how the economy has jumped from about 2 trillion dollars in 2014 to 3 trillion in 2019.
Talking about the Thailand 4.0 initiative of transforming Thailand into a value based economy, he said that it is compatible with and complementary to India’s priorities Digital India, Skill India, Swachh Bharat Mission, Smart Cities, Jal Jeevan Mission etc. and offers significant opportunities for partnership. He added that both the countries should take advantage of geo-political closeness, commonality of culture and goodwill to enhance business partnerships further.
Aditya Birla Group in Thailand
22 years before the Indian economy was formally opened, Shri Aditya Vikram Birla made a pioneering foray into Thailand by setting up a spinning unit. Today, the group has catapulted to become one of the largest enterprises in Thailand with a $1.1 billion diversified business. The Aditya Birla Group’s presence in Thailand through its nine state-of-the-art plants, spans diverse sectors such as textiles, carbon black and chemicals.
We are here in Thailand, with whom India has strong cultural linkages .— PMO India (@PMOIndia) November 3, 2019
And, we are marking fifty years of a leading Indian industrial house in this nation: PM @narendramodi pic.twitter.com/6NmXEvfbLn
India has seen many success stories in the last five years in various sectors.— PMO India (@PMOIndia) November 3, 2019
The reason for this is not only the Governments.
India has stopped working in a routine, bureaucratic manner: PM @narendramodi pic.twitter.com/9FagP1VFpB
You would be shocked to know that for years, money was spent on the poor which did not really reach the poor.— PMO India (@PMOIndia) November 3, 2019
Our Government ended this culture thanks to DBT.
DBT stands for direct benefit transfer. DBT has ended the culture of middlemen and inefficiency: PM @narendramodi pic.twitter.com/7URrYQIFUM
In today’s India, the contribution of the hard working tax payer is cherished . One area where we have done significant work is taxation.— PMO India (@PMOIndia) November 3, 2019
I am happy that India is one of the most people friendly tax regimes. We are committed to further improving it even more: PM @narendramodi pic.twitter.com/1hCQljaQIo
All of what I have said just now makes India one of the world's most attractive economies for investment.— PMO India (@PMOIndia) November 3, 2019
India received 286 billion US dollar FDI in the last five years. This is almost half of the total FDI in India in the last twenty years: PM @narendramodi pic.twitter.com/QDZlpBXdTc
India is now pursuing another dream- to become a five trillion dollar economy.— PMO India (@PMOIndia) November 3, 2019
When my Government took over in 2014, India’s GDP was about 2 trillion dollars. In 65 years, 2 trillion. But in just 5 years, we increased it to nearly 3 trillion dollars: PM @narendramodi pic.twitter.com/yMo0EX6F5l
If there is one thing I am specially proud of, it is India’s talented and skilled human capital. No wonder India is among the world’s largest start-up eco-systems: PM @narendramodi pic.twitter.com/V8RkA2yAI9— PMO India (@PMOIndia) November 3, 2019
In the spirit of our Act East Policy, we are paying special attention to enhance connectivity with this region.— PMO India (@PMOIndia) November 3, 2019
Direct connectivity between ports on Thailand’s west coast and ports on India’s east coast will enhance our economic partnership: PM @narendramodi pic.twitter.com/ZcEEMCGup9
For investment and easy business, come to India.— PMO India (@PMOIndia) November 3, 2019
To innovate and starting up, come to India. To experience some of the best tourist sites and warm hospitality of people, come to India. India awaits you with open arms: PM @narendramodi pic.twitter.com/01ytLQfxm8