PM Modi addresses CEOs at the India-China Business Forum

Calling for a 'harmonious partnership' between India and China, Prime Minister Narendra Modi today said it was essential for economic development and political stability of Asia.

Addressing CEOs at the India-China Business Forum here, Prime Minister Modi said both India and China have potentials of growth and problems of poverty. Emphasising that these problems can be tackled together, he said, "I am personally committed to take the co-operative process forward."

Highlighting the significance of need of a sound relationship between two of Asia's major economies, he said, "Harmonious partnership between India and China is essential for economic development and political stability of the continent."

As many as 21 agreements were signed between Indian and Chinese firms worth $22 billion at the India-China Business Forum.

Asking Chinese companies to take the "historic opportunity" to invest in India, Modi said, "We have committed ourselves for creating and improving the business environment. I can assure you that once you decide to be in India, we are confident to make you more and more comfortable."

Many Chinese companies have the possibility of investing in India to take advantage of India's potentials. The potential lies in manufacturing, processing as well as in infrastructure, he added.

Highlighting the steps taken up by his government to improve ease of doing business, he said, "We are making the taxation system transparent, stable and predictable. We have removed lot of regressive taxation regimes."

"India-Chinese partnership should and will flourish. I expect a very good outcome from this coming together. We have complemented each other in the past. We can complement in the present and future too," he said.

"Indian component manufacturers have been masters in high-quality precision and the Chinese players have mastered the art of mass production. The component design expertise of Indian engineers and low cost mass production by China can cater to the global markets in a better way. This industrial partnership of China and India can bring about greater investment, employment and satisfaction of our people," he added.

"Let us work together in mutual interest and for progress and prosperity of our great countries. India is ready for business. You must be sensing the winds of change in India. I only advise to you to come and feel the same," he further said.