Key Points of PM’s address at Economic Times Global Business Summit 01-17

Key Points of PM’s address at Economic Times Global Business Summit

Economy

India is a 2 trillion dollar economy today. Can we not dream of an India with a 20 trillion dollar economy? 

You will see India as a country of opportunities, unmatched across the world. India can be a role model of growth and cohesiveness for the rest of the world. 

The government must nurture an eco-system where the economy is primed for growth; and growth promotes all-rounddevelopment. Where development is employment-generating ; and employment is enabled by skills. Where skills are synced with production; and production is benchmarked to quality. Where quality meets global standards; and meeting global standards drives prosperity. Most importantly, this prosperity is for the welfare of all. That is my concept ofeconomic good governance and all round development. 

Development

Development has to result in jobs. What we need is not just more production, but mass production and production by masses. 

Development seems to have become the agenda only of government. It is seen as a scheme. That should not be the case.Development should be everyone`s agenda. It should be a people`s movement. 

Economic development cannot take a nation forward on its own. We need a society and economy which complement each other. We need to take care of the poor, deprived and left behind sections of society. 

The ultimate objective of subsidies should be to empower the poor, to break the cycle of poverty, and become foot-soldiers in our war on poverty. 

We need to cut subsidy leakages, not subsidies themselves. 

Governance

सरकारी तंत्र की दो समस्याएं हैं – वे जटिल भी हैं और शिथिल भी। Government systems suffer from two weaknesses. They arecomplex. And they are slow. We need to change this. Our systems need to be made sharp, effective, fast and flexible. This requires simplification of processes and having trust in citizens. This needs a Policy Driven State. 

What is Maximum Governance, Minimum Government? It means government has no business to be in business. 

First, we need to focus government on the things that are required of the State. Second, we need to achieve competence in government so that the State delivers on the things it sets out to do.

Reforms

Reforms are not an end in itself. Reforms must have a concrete objective.

Small acts can drive reforms. What appears minor can actually be vital and fundamental. Generating 20,000 MW of power attracts a lot of attention. That is important. At the same time, 20,000 MW of power can be saved through a people’s movement for energy efficiency. The second is more difficult but is as important as the first. Small indeed, is beautiful.

A major institutional reform is the move away from merely planning, to transforming India. The setting up of NITI Aayog, is a step in this direction.

Laws are the DNA of government. They must evolve with time.

Finance

We are committed to achieving the fiscal deficit target announced in the budget.

We are today a nearly 100% banked country. 

Financial unity - bringing everyone into the financial system – is one cause which both capitalists and socialists agree on. What, my friends, can be a bigger reform?

The consensus we arrived with States for amending the Constitution to implement GST is a major breakthrough. This alone has the potential to make India competitive and attractive for investment.

Today, India’s cooking gas subsidy is the world’s largest Cash Transfer Programme. 

I recently assured Public Sector Banks they will have total autonomy in taking business decisions.

Sectoral

The mantra of independence was Satyagraha. And the warriors were Satyagrahis. The mantra of New Age India must be Swachhagrah. And the warriors will be Swachhagrahis. 

People must understand the Clean Ganga program, as an economic activity also. The Gangetic plains account for 40% of our population. They have over one hundred towns, and thousands of villages.

I intend to launch a massive National Program for PDS Computerisation. 

Railway stations can become growth points for the nearby villages.

We will link farmers to global markets. We will give the world the Taste of India. 

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PM Modi's address to SARC 12-01

Text of Prime Minister’s speech at 2014 SAARC Summit in Nepal

November 26, 2014

Prime Minister Sushil Koiralaji, my colleagues from South Asia

I am delighted to return to Kathmandu.

Koiralaji, congratulations on organising an excellent Summit

Thank you, Nepal, for your warm hospitality once again.

Greetings to the Observer countries present here.

This is my first SAARC.  But, this is the second time I am meeting most of you together.  I stepped into the office with the greetings of the entire world.

But, what moved me, dear colleagues, was your personal presence, with the good wishes of one-fourth of humanity.

Because the future I dream for India is the future I wish for our entire region.

The last Summit was three years ago.  Only two of us here were present in Addu.  Even Prime Minister Sheikh Hasina has come here after her re-election.  President Rajapaksa will soon go into one and I wish him good luck.  I especially welcome our newest colleague, President Ghani.

Ours is a region of thriving democracy; of rich inheritance; the unmatched strength of youth; and, a strong thirst for change and progress.

In the last few months, I have travelled around the world.

From the middle of the Pacific, to the southern coast of Atlantic Ocean, I see a rising tide of integration.

And, negotiations on major trade agreements such as Regional Comprehensive Economic Partnership, the Trans Pacific Partnership and the Trans Atlantic Trade and Investment Partnership.

Because the barriers of boundaries inhibit progress; international partnerships add speed to it.

Because, in the life of an individual or a nation, a good neighbourhood is a universal aspiration.

Where does South Asia wish to stand in this world?

Nowhere in the world are collective efforts more urgent than in South Asia; and, nowhere else is it so modest.

Big and small, we face the same challenges – a long climb to the summit of development.

But, I have great belief in our boundless potential.

And, confidence  – that comes from the many inspiring stories of innovation and initiative in each of our countries.

There is much to learn from each other; even more – to do together.

That was the vision and aspiration that brought us together as SAARC 30 years ago.  We have travelled a long distance together since then.

We have an agreement, an institution or a framework of cooperation in every field.  We also have many successes.

Yet, when we speak of SAARC, we usually hear two reactions – cynicism and scepticism.  This, sadly, is in a region throbbing with the optimism of our youth.

Today, less than 5% of the region’s global trade takes place between us.  Even at this modest level, less than 10% of the region’s internal trade takes place under SAARC Free Trade Area.

Indian companies are investing billions abroad, but less than 1% flow into our region.

It is still harder to travel within our region than to Bangkok or Singapore; and, more expensive to speak to each other.

How much have we done in SAARC to turn our natural wealth into shared prosperity; or, our borders into bridgeheads to a shared future?

Yet, South Asia is slowly coming together.

India and Bangladesh have deepened their links through rail, road, power and transit.

India and Nepal have started a new era of cooperation in energy; and, India and Bhutan are making those ties stronger by the day.

With Sri Lanka, we have transformed trade through a Free Trade Agreement.

We will soon launch a new arrangement to meet Maldives’ need for oil.

Distance and difficulties have not held back India and Afghanistan.

And, bus and train sustain contacts between people in India and Pakistan

We have given five South Asian partners duty free access to 99.7% of their goods and are prepared to do more with others.

For India, it has been a privilege to provide assistance of nearly 8 billion U.S. dollars in South Asia over a decade.

It may not seem a great amount in these times, but we are grateful for the opportunity to have made a difference to the lives of a few brothers and sisters in our region.

Each of us has taken our initiatives.

However, as SAARC we have failed to move with the speed that our people expect and want.

Some argue that it is because of the region’s development gap. But, that should actually spur us to do more.

Or, is it because we are stuck behind the walls of our differences and hesitant to move out of the shadows of the past?

This won’t resolve our differences, but will certainly deprive us of opportunities.

Today, goods travel from one Punjab to the other Punjab through Delhi, Mumbai, Dubai and Karachi – making the journey eleven times longer and the cost four times more.

India, too,  has its share of responsibility –because of our size and location. I know that many of your goods, too, have to do a Parikrama of India to reach their destinations.

Just think of what we are doing to our consumers – and to our environment!

We must shrink the distance between our producers and consumers and use the most direct routes of trade.  I know India has to lead, and we will do our part  hope, each of you will, too.

Infrastructure is our region’s greatest weakness and it’s most pressing need.

When I thought of coming to Kathmandu by road, it made many officials in India nervous.

Because of the condition of roads at the border!

Infrastructure is my greatest priority in India.  And, I also want to set up a Special Purpose Facility in India to finance infrastructure projects in our region that enhances our connectivity and trade.

We speak of ease of doing business in India.  Let’s extend this to our region.  I promise to ensure that our facilities at the border will speed up, not slow down, trade.

Let’s all make our procedures simple, our facilities better, our standards common and our paper work less burdensome.

India will now give business visa for 3-5 years for SAARC.  Let’s make it even easier for our businesses through a SAARC Business Traveller Card.

Excellencies, India has a huge trade surplus with SAARC countries.  I believe that this neither right nor sustainable.

We will address your concerns and give you a level playing field in India.  But, I encourage you to attract Indian investments to produce for the Indian market and create jobs for your youth.

I also look to a future when your companies can easily raise funds in India for investments at home;

and, when we have cross-border industrial corridors, so that we can take advantage of the natural synergies and connected lives in our Border States.

I also believe that if we can light up each other’s towns and villages, we can build a brighter tomorrow for our region.

Or, face a future when someone looks down at us from Space, and says that this is world’s darkest corner.

Let us treat electricity as a commodity like any other that we invest and trade in.  India will fully support these initiatives in the region.

We should also think with ambition to use solar energy and micro grids to quickly provide clean power to villages across the region.

Our relations become stronger when we connect the lives of the ordinary citizens of our countries.  That is why connectivity and services by rail and road are so important.  We should also connect ourselves more by air.

We will not only make a difference to the lives of our people but also promote tourism in the region

We should use the strength of shared heritage and our diversity -  to encourage tourism within our region, and present South Asia to the world.   We could begin with the Buddhist circuit, but we don’t have to stop there.

As we seek to build bridges to prosperity, we must not lose sight of our responsibility to the millions living without hope.

We must work with our compassion of our hearts, but also with the power of science.

In the area of health, India will meet the shortfall in funds to establish the SAARC Regional Supra Reference Laboratory for TB and HIV.

We offer the five-in-one vaccine for the children of South Asia.

We will support monitoring and surveillance of polio-free countries, and provide vaccines where it might reappear.

And, for those coming to India for medical treatment, India will provide immediate medical visa for the patient and one attendant.

Information technology has removed all barriers to quality education.  India is prepared to connect our South Asian students through online course and E-libraries.  When we set up India’s National Knowledge Network, we will be happy to extend it to the SAARC region.

The dream of a South Asian University has become a reality in New Delhi.  But, to be truly South Asian, it must also have partnerships with at least one university in each SAARC country.

Excellencies,

India’s gift of a satellite for the SAARC region will benefit us all in areas like education, telemedicine, disaster response, resource management, weather forecasting and communication.

We will also host a conference in India for all South Asian partners next year, to strengthen our collective ability to apply space technology in economic development and governance.

And, we plan to launch our satellite by the SAARC Day in 2016.

As neighbours, we should also be together in good and bad times.

India’s capability and expertise in disaster management will always be available to South Asia.

Equally, as we reach out to our Indians caught in conflicts and disasters around the world, we will also be there for all our South Asian citizens.

Excellencies, a prosperous SAARC needs the strong foundation of a secure South Asia.

If we are sensitive to each other’s security, and the lives of our people, we will deepen friendships, spur cooperation and advance stability in our region.

Today, as we remember the horror of the terror attack in Mumbai in 2008, we feel the endless pain of lost lives.

Let us work together to fulfil the pledge we have taken to combat terrorism and trans-national crimes.

For India, our vision for the region rests on five pillars – trade, investment, assistance, cooperation in every area, contacts between our people – and, all through seamless connectivity.

This is the call of our times.  This is the age of social media, where boundaries matter little.

There is a new awakening in South Asia; a new recognition of inter-linked destinies; and, a new belief in shared opportunities.

The bonds will flow.

Through SAARC or outside it.

Among us all or some of us.

We can all choose our paths to our destinations.  But, when we join our hands and walk in step, the path becomes easier, the journey quicker and the destination closer.

I say this as much to my government and people, as I say to you.

We are meeting in the lap of Himalaya, which has nurtured us through the ages.  Today, it is calling us to act.

Let us work to change cynicism into optimism.

Let us turn South Asia of flowering hope into a rich field of peace and prosperity.

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PM Modi"s address to Australian Parliament 11-18

Speaker of the House of Representatives, Madam Bronwyn Bishop, President of the Senate, Stephen Parry,

Thank you, Mr. Prime Minister, my friend, Tony Abbott!

Congratulations to you and the people of Australia on a successful G20!

I am the third Head of Government you are listening to this week!

I don’t know how you are doing this! May be, this is Prime Minister Abbott’s way of shirt fronting you! But, I am truly honoured and humbled by this opportunity to speak to you.

I stand here as one of you – a representative of the people; I come to you with the greetings of 1.25 billion people of a nation, linked to Australia by the great Indian Ocean; by our connected history and our many shared inheritances- and, even more by our deeply interlinked destinies. And, today I have come to unite in spirit, as we were once by geography – spirit that is fed by many stirring stories of human success and sacrifice.

This morning, Prime Minister and I honoured our soldiers, who 100 years ago made the supreme sacrifice together in the battle of Gallipoli. The man who designed this beautiful capital of Canberra, Walter Burley Griffin, lies buried in the old city of Lucknow in India.

More than 150 years ago, an Australian novelist and lawyer John Lang fought the legal battle for a brave Indian freedom fighter, the Queen of Jhansi, Rani Laxmi Bai against the British East India Company in India’s first War of Independence. He also lies buried in the Indian hill town of Mussoorie.

The statue of Gandhi in Canberra is a symbol of our shared values.

We celebrate the legend of Bradman and the class of Tendulkar together.

We are impressed by Australian speed as you are charmed by the Indian spin Until of course Shane Warne came along!

But, above all, we are united by the ideals of democracy.

Today, as I stand in this temple of democracy, I consider nations such as ours to be blessed, because democracy offers the best opportunity for the human spirit to flourish, because we have the freedom to choose, the right to speak and the power to remove – and, for us in politics, with no option but to leave with grace.

Generations of people’s representatives have made Australia one of the great nations of the world today. From the vast stretch of territory to the abundance of resources, Nature has been generous to you. But, it is the people of Australia, who have made Australia what it is today: A beacon of democracy and rule of law; a nation that willingly leads the search of a lost aircraft; one of the most prosperous nations in the world;among the best in human development index; a nation with some of the best cities in the world; some of the most productive farms and mines; some of its best universities and research centres; an advanced technology base; and, a nation with great sporting skills.

Australia evokes images not just of immense beauty, but also of a great quality of life. Today, its cities are alive with richness of this world’s diversity. And, it is home to 450,000 Indians, who are as proud to be part of Australia as they are of their Indian heritage.

Honorable Members,

There was a time when, for many of us, Australia was a distant land on the southern edge of the world.

Today, the world sees Australia to be at the heart of the Asia Pacific and Indian Ocean region. This dynamic region holds the key to this world’s future; and Australia is at its cross-currents. And, as Australia has become more engaged in this part of the world, we welcome its growing role in driving this region’s prosperity and shaping its security.

Because we, in India, seek the same future for this world.

We also see Australia as a vital partner in India’s quest for progress and prosperity. There are few countries in the world where we see so much synergy as we do in Australia. India a nation of more than a billion seeking development; Australia a developed country of a few million people and vast resource. Since the turn of this century, India has been the second fastest growing economy in the world. Millions have lifted themselves out of poverty into a new life of possibilities.

Today, we have a government with a clear majority after thirty years. From the remotest village to the biggest cities, there is a new high tide of hope in India; a new energy.

It is the energy of our youth – the 800 million people below the age of 35 – eager for change, willing to work for it – because, now they believe that it is possible. That they can make it happen. It is this force of transformation that we will unleash.

In the six months that we have been in office, we have moved forward, thinking with ambition, acting with speed; seeking growth not just for growth, but to transform the quality of life of every Indian – 

I see Australia as a major partner in every area of our national priority.

In providing skills and education to our youth; a roof over every head and electricity in every household; the most affordable healthcare for the most difficult diseases; the next generation of infrastructure that does not take a toll on our environment; Energy that does not cause our glaciers to melt – clean coal and gas, renewable energy or fuel for nuclear power; cities that are smart, sustainable and livable; villages that offer opportunities; agriculture that yields more and farms that are better connected to markets; practices and technology that save water.

We have a new Mission for turning “Made in India” into a global name just as Computer in India is. But, we want to find new pathways to prosperity, not simply travel down the roads of the previous century.

Much of India’s future cities and infrastructure is yet to be built and so we have a unique opportunity to make our choices now. And, in every sector – agriculture, food processing, mining, infrastructure, manufacturing, finance and technology, energy; from providing funds and resources to technology and expertise; working as partners and investers -Australia has immense opportunities to participate in India’s progress.

In turn, India will be the answer to your search for new economic opportunities and your desire to diversify your global economic engagement; your source for world class skills at home or for a manufacturing location abroad.

India’s development, demography and demandprovide a unique long term opportunity for Australia – and all in the familiar framework of democracy. There is no other example of this nature in the world.

Indian investors, too, are coming here in growing numbers and commitments.

Honourable Members,

This is an age rich in promise, but also filled with challenges.

We can only pursue our dreams, if we have the confidence that our cities are safe, our nations are secure, our region is stable and our world is peaceful.

This vast region has many unsettled questions and new challenges. Historical differences persist despite growing inter-dependence. The oceans are our lifelines. But, we worry about its access and security in our part of the world more than ever before.

Our region has seen huge progress on the foundation of peace and stability.

But, we cannot take this for granted. Preserving it will be the most important task in the region. India and Australia can play their part in it – by expanding our security cooperation and deepening our international partnerships in the region.

But, we do not have to rely on borrowed architecture of the past. Nor do we have the luxury to choose who we work with and who we don’t. But, what we do need is to work together and with others to create environment and culture that promotes the currency of co-existence and cooperation; in which all nations, small and big, abide by international law and norms, even when they have bitter disputes.

We should collaborate more on maintaining maritime security. We should work together on the seas and collaborate in international forums. And, we should work for a universal respect for international law and global norms.

We must also support the process of economic integration across the region and an open global trading system that remains integrated. We must guard against regional trade initiatives becoming instruments of political competition. However, economic integration by itself won’t be a strong basis for peace and stability, without strong regional institutions.

India and Australia are members of several institutions that are critical for this region and the world. We should coordinate more closely in East Asia Summit, G20 and the Indian Ocean Region Association. 

Honorable Members,

In our inter-connected world, our shared challenges extend beyond our region. Terrorism has become a major threat for us all. In India, we have seen its face closely for three decades. And, we see it with the clarity that comes with it.

Terrorism is changing in character and expanding in its reach. Internet has made recruitment and call to violence self-generated. It also feeds off money laundering, drug trafficking and arms smuggling.

We have to deepen our bilateral security cooperation. But, we need a comprehensive global strategy for a global problem. It will require closer security cooperation; but, even more,a policy of no distinction between terrorist groups or discrimination between nations; a resolve to isolate those who harbour terrorists, willingness to empower states that will fight them; a social movement against extremism in countries where it is most prevalent; and, every effort to delink religion and terrorism.

As I look to the future, we would also need to ensure that outer Space and cyber space remain instruments of connectivity and prosperity, not new frontiers of conflict.

Responding to the region’s disasters, combating proliferation, acting against piracy, we can work together on a full range of security challenges.

Honorable Members,

Since my Government entered office, no region has seen more intense engagement on India’s part than Asia Pacific region – because we understand how deeply our future is linked to this region. India and Australia can play cricket hard with each other – and I suspect we will next month. But we see Australia as one of our foremost partners in the region.

I was pleased to host Prime Minister Tony Abbott as my first State Guest in September.

It has taken a Prime Minister of India 28 years to come to Australia. It should never have been so. And, this will change.

Australia will not be at the periphery of our vision, but at the centre of our thought. So, we stand together at a moment of enormous opportunity and great responsibility. I see a great future of partnership between India and Australia and, a shared commitment to realize it.

Prime Minister Abbott started us on this new journey in September. I have come here to set our two countries more firmly on that course. With your help, and with the help of the great people of India and Australia.

I wish you the best for hosting a great and successful World Cup Cricket early next year.

Thank you all.

51 Shakti Peeth