Best time to be in India, Modi tells Australian industry leaders
MELBOURNE: Indian Prime Minister Narendra Modi on Tuesday
wooed Australian industry leaders telling them “this is the best time to be in
India” and promised them an investor-friendly and conducive environment for
doing business in India.
Speaking in English without a prepared text, Modi told
the top CEOs that his government was undertaking reforms to enhance ease of
doing business. Meeting mining magnate Gina Rinehart, BHP chief Andrew
Mackenzie, trucking magnate Lindsay Fox and Visy Industries chairman Anthony
Pratt besides many others, Modi said that before his government took over in
May, economic growth had slowed down over the last few years.
“My government is making all efforts to ensure faster,
all round inclusive growth to revive the economy, to create policy environment
that is conducive, transparent and fair,” he said.
“Our economic growth had slowed down in the last few
years. But my government is working hard to create an environment to foster
growth. The results have been encouraging, the economy registered 5.7 percent
growth, one percent more than last year,” he said.
“Want to draw your attention to one thing: the
opportunities in tourism. Immense scope for investing in tourism infrastructure
as well,” he said, according to tweets posted by the Prime Minister’s Office.
“Personally committed to environmental issues. We want
to move to gas-based economy. That tells you how many LNG terminals we would
need,” he said, according to a tweet. “Democratic values connect us. Want to
hear from you all,” he said.
At the CEOs Roundtable, Modi and the industry leaders
discussed education, services, energy, banking and IT Among the other industry
leaders attending the roundtable were Andrew Mackenzie, CEO of BHP Billiton
Ltd, Phil Edmands, managing director of Rio Tinto, and Tony Cripps, CEO of
HSBC's operations in Australia.