PM invites Japanese investors; promises speedy clearances

He said that the phase of disappointment was over and highlighted the growth figures of 5.7%

Claiming economic turnaround in the first 100 days of his government, Prime Minister Narendra Modi today promised non-discriminatory and speedy clearances to investors and proposed co-opting two Japanese nominees in a decision making team under PMO to evaluate business proposals.

Accompanied by a high-level business delegation from India, he assured the Japanese businessmen and investors of policy-driven decisions to eliminate delays and invited investment especially in infrastructure and clean energy.

Modi wooed Japanese businesses, citing the latest growth figures of 5.7% in the first quarter of this financial year and suggested that the phase of disappointment was over.

"See the work done in 100 days of my government. Earlier, the GDP used to hover around 5-5.4% and led to an environment of disappointment...But in the first quarter of our government, there has been a growth of 5.7%. It is a big jump. Now there is renewed hope," he said.

Addressing told top business leaders of Japan and India at luncheon hosted by Nippon Kiedanren, the Japanese Chambers of Commerce and Industry and Japan-India Business Cooperation Committee here, he said good governance is his priority.

The Prime Minister said single window-clearances is a significant part of it as he realises the importance of easing business, simplifying procedures, quickening processes and using technology.

"I understand well the importance of coordination between government and industry," he said while noting that he wants to replicate the experiments he made in Gujarat at the national level.