Inviting the 10 southeast Asian nations to be part of his country's "new" economic journey, Modi laid out his vision at the ASEAN-India summit here explaining how India will be open for business without any hurdles and how it was willing to go beyond what has been done so far in creating a stable current business environment.
The prime minister in his interaction in Hindi at the round table said that a "new era" of economic development, industrialisation and trade has begun in India and and that the rapidly developing country and ASEAN can be "great partners" to each other.
Noting that India's 'Look East' policy has become 'Act East' policy, Modi assured the ASEAN leaders that he will give his "sustained personal" attention to India's relations with the regional bloc.
"We have embarked on a new economic journey in India, we invite you to this new environment in India," the prime minister said. ASEAN plans to become one economic community by the end of next year.
"We have no irritants in our relationship. We see encouraging opportunities and challenges in the world in similar ways," he said.
At the same time, Modi said the potential for India-ASEAN ties is much higher than where they are at the moment.
"To deepen our connectivity, I am considering establishing with your cooperation, a special facility or special purpose vehicle to facilitate project financing and quick implementation," he said.