TOKYO, Sept 2 � Hardselling India as a manufacturing destination, Prime Minister Narendra Modi today invited Japanese investments, saying the era of �red tape� has been replaced by �red carpet� with the ease of doing business and liberalisation, reports PTI.
Addressing Japanese investors at a business symposium organised by Nikkei and Jetro, Japan�s trade promotion body, he talked about his vision of �Make in India� and cited the decisions of his 100-day-old government to create ease for doing business.
�No other country offers such an opportunity� as India, given the fact that it has democracy, demography and demand, Modi said on the fourth day of his trip, a day after he addressed investors and businessmen yesterday at another event.
The Prime Minister asked business leaders to �try their luck� by investing in India, contending that they could do �miracles� in terms of profits through low-cost manufacturing.
�What do manufacturers want? They look for low-cost manufacturing. They don�t want high-cost manufacturing. Cheap labour, skilled manpower, ease of business and liberalised environment. Then it becomes economically viable in India.
�Trillions and trillions of dollars need to be invested in India. The electronic market, especially the mobile handset sector, is a big market with a potential,� he said, adding the government has put digital India plans for 125 crore people on a mission mode.
Arguing why India provides a big potential, he said plans for metro construction in about 50 cities and renewable energy sector offer big opportunities.
�Bharat is ready to invite you. Make in India whatever facilities you want, they are there,� he said wooing Japanese business leaders.
Modi particularly flagged the opportunities available in small and medium industries and in the IT sector.
