NEW DELHI — Prime Minister Narendra Modi on Thursday asked state governments to establish clear policies, provide good governance, and law and order, to attract investments from global companies which are eager to come to India in a big way.
In his address to the Nation on 78th Independence Day, Modi envisioned transforming India into a global manufacturing hub by leveraging its vast resources and skilled workforce.
He also made a call for "Design in India, Design for the World" and urged entrepreneurs to create products that cater to both domestic and international markets.
Also read: It’s India’s dream to host 2036 Olympics, preparations are on: PM Narendra Modi
"Many big companies of the world want to invest in India. I have seen this after the elections, in my third term, most of the people who are seeking (time) to meet me are investors," he said.
The prime minister said they are investors from all over the world and they want to come and invest in India.
Modi said this is a huge golden opportunity and urged the state governments to set a clear policy to attract investors.
Addressing the nation on Independence Day. https://t.co/KamX6DiI4Y
— Narendra Modi (@narendramodi) August 15, 2024
"Give assurance of good governance, give them assurance for law and order situation. Every state should come forward in a healthy competition. There should be competition between states to attract investors," he said.
Modi emphasised that if there is a need to bring changes in the policies then the states should do it as per the global requirement.
He said states should also create a land bank.
Modi said the central government alone cannot do all the work to bring in investments, because the projects get implemented in states, and investors have to deal with state governments on a daily basis.
"When the whole world is committing to invest in India then it becomes our responsibility to leave our old habits and come forward with a clear policy. You will see the results in your state and your state will also shine, I assure you this," Modi said.
He further said it is very important that India is recognised for its best quality, and emphasised that the country should work on 'Design in India' for the world.
"We have to try that Indian standard should become international standard. When Indian standard becomes international standard then everything of ours will be easily approved," Modi said.
He said India is a country full of talent and can give a lot of new things to the world in the field of design.
"Design in India. We have to move forward with this call. Design in India and Design for the world has to be carried forward with this dream," the prime minister said.
Referring to the FY25 Budget, the prime minister highlighted landmark initiatives announced by the government to train India's youth and become the skill capital of the world.
In his speech, Modi also said that India must leverage its rich ancient legacy and literature to come up with made-in-India gaming products.
He added that Indian professionals must lead the global gaming market, not just in playing but also in producing games, stating that Indian games should make their mark worldwide.