Make in India needs new infrastructure: Modi

Indian Prime Minister Narendra Modi on Monday said that "Make in India" requires urgent creation of new infrastructure.

"Our strategy for 'Make in India' requires urgent creation of new infrastructure. The substantial enhancement in financing in the federal budget for highways, railways and energy is a step in this direction. Work has begun on the development of Delhi-Mumbai Industrial Corridor," said Modi in an Op-Ed piece in Frankfurter Allgemeine Zeitung.

Modi, who is on a two-day visit to Germany, said that through "our 'Act East' and 'Link West' policy, India has the potential of becoming the middle ground for East and West as a manufacturing hub that serves both our vast domestic market and becomes a base for global exports and general well-being".

He said: "My government has pledged a stable and transparent tax regime, reducing corporate taxes and implementing a single Goods and Services Tax in 2016."