PM Modi's Silicon Valley visit to boost foreign investment: FICCI

Promoting investments in India and fostering a better economic climate for doing business is what is being fostered by Prime Minister Narender Modi. The visit to Silicon Valley, USA, will be instrumental in enhancing foreign investment and giving a boost to country's manufacturing sector.

FICCI in a report expressed its support to his key initiatives such as Digital India, Start up India, Stand up India and Skill India.

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Industry supports the Prime Minister's initiatives to create more jobs, and for a better skilled India of tomorrow. The Digital India platform will immensely help in ease of doing business and bringing in necessary transparency in the Indian system and industry would contribute nearly 4.5 lakh crore to the initiative.

Dr. Jyotsna Suri, President, FICCI, in a statement said, "As two of the largest democracies of the world, our nations share a commitment to work together in innovation collaboration to solve problems of not only American and Indian citizens but of the global community."

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FICCI will further enhance the India Innovation Growth Program with support of the Department of Science & Technology and US partners to create a start-up platform that is a technology enabler for growth and bring forth ideas and innovations that will shape the future of industries across the country.

FICCI and Indian industry also appreciate the vision of the joint statement brought out by the Prime Minister Modi and US President Barack Obama on the shared commitment to fight climate change. Industry is in favor of the vision for the scientific and business community of both sides to work together to develop green energy and for providing technology and financing.

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FICCI in order to facilitate the participation of industry, small & large, from both countries in the growing defence business in India launched a private sector industry think-tank, in partnership with its counterpart industry bodies.

The mandate was to clear the maze of procedures and facilitate B2B interactions. The platform will provide a transparent mechanism for industry both public and private to engage in a dialogue to nurture technology incubation, industry-academia interface and allow technology to be an enabler to help the Indian defence companies to understand opportunities to become a part of the global supply chains.