Prime Minister Narendra Modi on Monday said he wanted to make India a “global manufacturing hub” while the country’s youth too should become job creators.
Addressing the ASEAN Business and Investment Summit in Manila, Philippines, Modi said the government had simplified processes to set up new companies and the task of transforming India was proceeding at an unprecedented scale.
“Keeping our emphasis on ‘Minimum Government, Maximum Governance’, about 1200 outdated laws have been repealed in the last three years,” Modi said as he wooed global investors to set shop in India.
“We have simplified processes to start companies and for other clearances as we want to make India a global manufacturing hub and we want to make our youngsters job creators,” he added.
Stressing that most sectors of the Indian economy are open for foreign investment, Modi said he was “working day and night” towards easy, effective and transparent governance.
“We are using technology to reach out to people… Digital transactions have increased significantly and are up by 34 per cent in a year,” Modi said.
Modi further said that large sections of India’s population did not have access to banking services and the Jan Dhan Yojana changed that in a matter of months while transforming the lives of millions