Welcome

Website counter
website hit counter
website hit counters

Monday, October 25, 2010

Prime Minister's Address at Business Luncheon Hosted by Nippon Keidanren in Tokyo



---------- Forwarded message ----------
From: Press Information Bureau Ministry of I&B <pib.kolkata@gmail.com>
Date: Mon, Oct 25, 2010 at 1:35 PM
Subject: Releases............pt1


Press Information Bureau

Government of India

* * * * * *

Prime Minister's Office

Prime Minister's Address at Business Luncheon Hosted by Nippon Keidanren in Tokyo

New Delhi: October 25, 2010.

 

The following is the text of  Prime Minister Dr. Manmohan Singh's address at the business luncheon hosted by Nippon Keidanren in Tokyo: 

 "I am truly delighted to once again be in Tokyo after almost two years. I take this opportunity to congratulate Mr. Yonekura on his assumption of onerous responsibilities as the Chairman of Nippon Keidanren.

I also thank him for his generous opening remarks and for the opportunity he has provided me to address this gathering.

The last time when we met, the global economy had just entered its worst crisis since the great depression of the nineteen thirties. The world's leading developed countries were pushed into a severe recession, triggered by an unprecedented meltdown of the financial sector. Capital flows to emerging market economies dried up. Stock markets crashed worldwide.

Fortunately the world responded in a very timely manner. At the global level, India joined with other major economies in constituting the G-20 as the premier forum for decision-making on international economic issues. Thanks to the collective efforts of G-20, the world economy has gradually stabilized even though the recovery is still fragile. However, circumstances remain difficult even today. The recovery as I said is fragile and demand in industrialized countries remains weak. Protectionist sentiments have increased because of high unemployment.

Given the severity of the crisis it was inevitable that India would also be affected. Our economy slowed down from the 9 % growth rate it had achieved in the four years before the crisis of 2008 to 6.5% in 2008-09. But we responded with concerted measures to revive and sustain economic growth through a range of fiscal and monetary policies. I am happy to report that as a result our growth recovered to 7.4% in 2009-10 and is now projected to be 8.5% in the current fiscal year that is 2010-11. It is my expectation that we will return to a 9 % growth path in 2011-12.

I am confident that the strong fundamentals of the Indian economy will enable us to achieve our objective of double digit growth in the coming years. I do not underestimate the many challenges we face in achieving such high levels of growth. We need to close the infrastructure deficit, especially in the fields of power and transport and communication. This is a major constraint on our development and we shall give high priority to infrastructure development and modernization in the years ahead. We will rely on both public investment and public private partnership to achieve our infrastructure targets. We will also invest in education, health and rural development to ensure that growth is inclusive and broad-based.

Most of our investment is financed by domestic savings. I am happy to say that India's saving rate has increased to around 35%. I am confident that it will rise to 40% of GDP. However domestic savings will have to be supplemented by foreign capital so that total domestic investment can be higher. During the last three years India has received cumulative Foreign Direct Investment worth over 100 billion US dollars. We have seen a slow down in recent months but I see that as being temporary.

We are determined to continue the process of economic reforms that will create a favourable investment environment and facilitate higher investment flows. We are continuing the process of reform of both direct and indirect taxes and hope to unify in due course all indirect taxes into a single Goods and Services Tax. We are pursuing reforms in the financial sector, capital markets, higher education and skill development.

Let me now turn to the question of what Japan and India can do together. Japan has always been viewed with great admiration by the people of India.

The Government and the people of India deeply appreciate the generous assistance which Japan has provided to us for building economic and social infrastructure. India has been the largest recipient of Japanese ODA since 2003. The highly successful Delhi Metro project has been followed by ODA assistance for Metro projects in Kolkata, Bangalore and Chennai. The Dedicated Freight Corridor project between Delhi and Mumbai, launched with Japanese ODA support, is designed to transform India's freight logistics.

Today, more than ever, India's buoyant economy, young population and large market combine well with Japan's technological prowess, manufacturing skills and financial resources to create a win win situation for both our countries. I strongly believe that we can and must synergize our complementary strengths to impart momentum to Asian as well as global economic growth and prosperity.

We have witnessed a steady expansion of trade and investment relations between our countries in recent years. Bilateral trade has made a robust rebound in 2010 and should exceed 20 billion US dollars by 2012. However, you will agree with me that India-Japan trade is still at a low threshold, apart from being unbalanced.

I am happy to note that Japanese Foreign Direct Investment in India has grown substantially in the last three years. Much of this has been due to mergers and acquisitions. We welcome greater Japanese participation in Indian industry through Foreign Direct Investment. We seek the creation of new capacity in India's manufacturing and infrastructure sectors and freer flow of high-end technologies.

It is a welcome sign that the number of Japanese companies with an established business presence in India has more than doubled in the past four years.

I have long believed that India and Japan must work together to create a business environment conducive to much greater two-way trade and investment flows. It was with this perspective that we launched negotiations for a Comprehensive Economic Partnership Agreement almost four years ago. I am happy to share with you that our efforts have finally succeeded and a mutually beneficial agreement is ready to be concluded.

India's capabilities in the services sector and the knowledge economy are well recognized as is our global success in the Information Technology sector. Collaboration in this sector with Indian IT companies has brought significant benefits to our partners in Europe and America. We hope that Japanese companies will also take advantage of these opportunities to enhance their efficiency and competitiveness through expanded partnerships with India's IT sector.

We also expect that the Comprehensive Economic Partnership Agreement will create new opportunities for India's pharmaceutical industry in the Japanese market, helping to meet Japan's growing demand for high quality and relatively inexpensive generic medicines.

I have already mentioned that India's infrastructure deficit poses a major constraint on manufacturing growth and can adversely impact FDI flows. During India's next Five Year Plan from 2012 to 2017, we envisage financial outlays of over one trillion US dollars on infrastructure projects. Private investment will play a large role in achieving this target. We would welcome a much greater role by Japanese industry in the development of economic infrastructure in India.

Japan is our partner of choice in the Delhi-Mumbai Industrial Corridor project. This is a mega project covering a length of over 1480 km across six States of India. It has the potential to become the hub of our new bilateral economic engagement in the area of manufacturing. Some of the notified investment regions are almost the size of Singapore in terms of their area. We welcome in particular the involvement of Japanese companies in the development of "smart communities" in the DMIC area.

With India's rapid economic growth, the demand for energy has been rising rapidly. Japan, as a global leader in energy efficient technologies can play a significant role in helping us meet India's energy needs in an environmentally friendly manner. We seek Japanese technology and investment in conventional as well as new and renewable energy.

Nuclear energy can provide our growing economy with a clean and efficient source of power. Cooperation in this area will enable Japanese companies to participate in India's ambitious nuclear energy programme.

The weight of global economic power is shifting inexorably towards Asia. I am confident that irrespective of the current slowdown Japan will remain Asia's most advanced industrialized nation for decades to come and will exert considerable influence on the global economy. India is participating fully in the rising tide of economic expansion in Asia. It is my hope that India and Japan will continue to work together for the creation of a broader Asian Economic Community.

In my more than four decades in public life, I have had the privilege of working closely with Japanese statesman and captains of Industry, during this period, I have steadfastly nurtured the vision that Japan must be an important partner in India's economic development and transformation. Together we can contribute to global stability, prosperity and development.

As I stand before this distinguished gathering of leaders of Japan's business and industry, I sense a new enthusiasm and a vibrancy that gives me reason to believe that my long held vision will be realized. I invite you to repose your faith in India. I assure you that we will spare no effort to make Japanese business welcome. Together, we can ensure the long term prosperity of our two peoples for the greater benefit of countries in our region and the world."

 

akt/ad/sks/vk/dk/kol/13:31 hrs.

 

 

Press Information Bureau

Government of India

* * * * * *

Ministry of Housing and Urban Poverty Alleviation

International Conference on Innovative Building Technologies for Affordable Mass Housing to be held on 28th october 2010

New Delhi: October 25, 2010.

 

The Ministry of Housing & Urban Poverty Alleviation has convened an International Conference on the theme of "Innovative Building Technologies for Affordable Mass Housing" in conjunction with Board Meeting of International Council for Research and Innovation in Building Construction (CIB) on 28th October 2010 in New Delhi. The daylong conference will be inaugurated by Minister of Housing & Urban Poverty Alleviation and Tourism Kumari Selja and will be attended by 33 CIB Board members from 23 countries.

 

Senior officers from Central Government, State Secretaries of Urban Development, Housing, Industry and Commerce as well as Industry representatives from FICCI, NAREDCO, CBRI, CREDAI, BMTPC, HUDCO and researchers and academic institutions from the construction and building industry in India will also attend the conference.

 

ad/db/dk/kol/13:32 hrs.

 




--
Palash Biswas
Pl Read:
http://nandigramunited-banga.blogspot.com/

No comments:

मैं नास्तिक क्यों हूं# Necessity of Atheism#!Genetics Bharat Teertha

হে মোর চিত্ত, Prey for Humanity!

मनुस्मृति नस्ली राजकाज राजनीति में OBC Trump Card और जयभीम कामरेड

Gorkhaland again?আত্মঘাতী বাঙালি আবার বিভাজন বিপর্যয়ের মুখোমুখি!

हिंदुत्व की राजनीति का मुकाबला हिंदुत्व की राजनीति से नहीं किया जा सकता।

In conversation with Palash Biswas

Palash Biswas On Unique Identity No1.mpg

Save the Universities!

RSS might replace Gandhi with Ambedkar on currency notes!

जैसे जर्मनी में सिर्फ हिटलर को बोलने की आजादी थी,आज सिर्फ मंकी बातों की आजादी है।

#BEEFGATEঅন্ধকার বৃত্তান্তঃ হত্যার রাজনীতি

अलविदा पत्रकारिता,अब कोई प्रतिक्रिया नहीं! पलाश विश्वास

ভালোবাসার মুখ,প্রতিবাদের মুখ মন্দাক্রান্তার পাশে আছি,যে মেয়েটি আজও লিখতে পারছেঃ আমাক ধর্ষণ করবে?

Palash Biswas on BAMCEF UNIFICATION!

THE HIMALAYAN TALK: PALASH BISWAS ON NEPALI SENTIMENT, GORKHALAND, KUMAON AND GARHWAL ETC.and BAMCEF UNIFICATION! Published on Mar 19, 2013 The Himalayan Voice Cambridge, Massachusetts United States of America

BAMCEF UNIFICATION CONFERENCE 7

Published on 10 Mar 2013 ALL INDIA BAMCEF UNIFICATION CONFERENCE HELD AT Dr.B. R. AMBEDKAR BHAVAN,DADAR,MUMBAI ON 2ND AND 3RD MARCH 2013. Mr.PALASH BISWAS (JOURNALIST -KOLKATA) DELIVERING HER SPEECH. http://www.youtube.com/watch?v=oLL-n6MrcoM http://youtu.be/oLL-n6MrcoM

Imminent Massive earthquake in the Himalayas

Palash Biswas on Citizenship Amendment Act

Mr. PALASH BISWAS DELIVERING SPEECH AT BAMCEF PROGRAM AT NAGPUR ON 17 & 18 SEPTEMBER 2003 Sub:- CITIZENSHIP AMENDMENT ACT 2003 http://youtu.be/zGDfsLzxTXo

Tweet Please

Related Posts Plugin for WordPress, Blogger...

THE HIMALAYAN TALK: PALASH BISWAS BLASTS INDIANS THAT CLAIM BUDDHA WAS BORN IN INDIA

THE HIMALAYAN TALK: INDIAN GOVERNMENT FOOD SECURITY PROGRAM RISKIER

http://youtu.be/NrcmNEjaN8c The government of India has announced food security program ahead of elections in 2014. We discussed the issue with Palash Biswas in Kolkata today. http://youtu.be/NrcmNEjaN8c Ahead of Elections, India's Cabinet Approves Food Security Program ______________________________________________________ By JIM YARDLEY http://india.blogs.nytimes.com/2013/07/04/indias-cabinet-passes-food-security-law/

THE HIMALAYAN TALK: PALASH BISWAS TALKS AGAINST CASTEIST HEGEMONY IN SOUTH ASIA

THE HIMALAYAN VOICE: PALASH BISWAS DISCUSSES RAM MANDIR

Published on 10 Apr 2013 Palash Biswas spoke to us from Kolkota and shared his views on Visho Hindu Parashid's programme from tomorrow ( April 11, 2013) to build Ram Mandir in disputed Ayodhya. http://www.youtube.com/watch?v=77cZuBunAGk

THE HIMALAYAN TALK: PALASH BISWAS LASHES OUT KATHMANDU INT'L 'MULVASI' CONFERENCE

अहिले भर्खर कोलकता भारतमा हामीले पलाश विश्वाससंग काठमाडौँमा आज भै रहेको अन्तर्राष्ट्रिय मूलवासी सम्मेलनको बारेमा कुराकानी गर्यौ । उहाले भन्नु भयो सो सम्मेलन 'नेपालको आदिवासी जनजातिहरुको आन्दोलनलाई कम्जोर बनाउने षडयन्त्र हो।' http://youtu.be/j8GXlmSBbbk

THE HIMALAYAN DISASTER: TRANSNATIONAL DISASTER MANAGEMENT MECHANISM A MUST

We talked with Palash Biswas, an editor for Indian Express in Kolkata today also. He urged that there must a transnational disaster management mechanism to avert such scale disaster in the Himalayas. http://youtu.be/7IzWUpRECJM

THE HIMALAYAN TALK: PALASH BISWAS CRITICAL OF BAMCEF LEADERSHIP

[Palash Biswas, one of the BAMCEF leaders and editors for Indian Express spoke to us from Kolkata today and criticized BAMCEF leadership in New Delhi, which according to him, is messing up with Nepalese indigenous peoples also. He also flayed MP Jay Narayan Prasad Nishad, who recently offered a Puja in his New Delhi home for Narendra Modi's victory in 2014.]

THE HIMALAYAN TALK: PALASH BISWAS CRITICIZES GOVT FOR WORLD`S BIGGEST BLACK OUT

THE HIMALAYAN TALK: PALASH BISWAS CRITICIZES GOVT FOR WORLD`S BIGGEST BLACK OUT

THE HIMALAYAN TALK: PALSH BISWAS FLAYS SOUTH ASIAN GOVERNM

Palash Biswas, lashed out those 1% people in the government in New Delhi for failure of delivery and creating hosts of problems everywhere in South Asia. http://youtu.be/lD2_V7CB2Is

THE HIMALAYAN TALK: PALASH BISWAS LASHES OUT KATHMANDU INT'L 'MULVASI' CONFERENCE

अहिले भर्खर कोलकता भारतमा हामीले पलाश विश्वाससंग काठमाडौँमा आज भै रहेको अन्तर्राष्ट्रिय मूलवासी सम्मेलनको बारेमा कुराकानी गर्यौ । उहाले भन्नु भयो सो सम्मेलन 'नेपालको आदिवासी जनजातिहरुको आन्दोलनलाई कम्जोर बनाउने षडयन्त्र हो।' http://youtu.be/j8GXlmSBbbk