Stating that infrastructure was the greatest weakness and the most pressing need of South Asia, Prime Minister Narendra Modi on Wednesday called for an enhancement in connectivity and trade, as well as ease of doing business in the region.
"Infrastructure is our region's greatest weakness and it is most pressing need. When I thought of coming to Kathmandu by road it made many officials in India nervous, because of the condition of the roads at the border," Prime Minister Modi said at his first SAARC Summit here.
He talked about setting up a Special Purpose Facility in India to finance infrastructure projects to enhance connectivity and trade.
"Infrastructure is my greatest priority in India and I also want to set up a Special Purpose Facility in India to finance infrastructure projects in our region that enhance our connectivity and trade. We speak of ease of doing business in India; let us extend this to our region. I promise to ensure that our facilities at the border will speed up, not slow down trade," the Prime Minister added.
Calling for simpler procedures and better facilities, Prime Minister Modi announced that India will offer business visa from three to five years for SAARC countries.
"Let's all make our procedures simple, our facilities better, our standards common and our paperwork less burdensome. India will now give business visa for three to five years for SAARC countries," he added.
"Let us make it even easier for our businesses through a SAARC Business Traveler card. I encourage you to attract Indian investments to produce for the Indian market and create jobs for your youth. I also look to a future when your companies can easily raise funds in India for investments at home," he added.
