India to Mauritius: PM Modi rolls out red carpet to investors with ‘Make in India’
L to R: Mauritius’ Minister of Industry, Commerce and Consumer Protection, Cader Sayed-Hossen and Anup K Mudgal, High Commissioner of India to Mauritius, at a Business Breakfast Roundtable held today at the Hennessey Park Hotel in Ebene to give Mauritian entrepreneurs and investors an opportunity to witness the live launch of the ‘Make in India’ campaign. (Image: Cecilia Samoisi)
India’s Prime Minister, Narendra Modi, launched today, September 25, 2014, the ‘Make in India’ campaign, rolling out the red carpet to investors to attract greater foreign investments and transform India into a global manufacturing hub with many avenues of employment.
The event was simultaneously launched in Indian Embassies and High Commissions around the world, including in Mauritius, which holds an important place for India as the top source country for investments into the Asian economy.
Accordingly, the High Commission of India in Port Louis organized a Business Breakfast Roundtable today at the Hennessey Park Hotel in Ebene to give Mauritian entrepreneurs and investors an opportunity to witness the live launch of the ‘Make in India’ campaign.
Through this new and novel initiative, India will be transformed into a global manufacturing hub and will create a new brand industrial revolution that generates profit and progress for India`s partners and citizens alike.
In the context of the campaign, Prime Minister Modi expressed his disappointment towards industries that think that they have to shift their business somewhere else instead of collaborating with India, stating he wants companies to shine out as multinational corporations.
He highlighted the importance of trust and confidence, both of which are essential to run the country as a viable production hub.
The latter re-defined FDI for the people of India as ‘First Develop India’ and as an opportunity for world leaders to partner with India and mutually benefit from its progress.
According to him, there is a need to raise people from poverty to middle class so that the purchasing power of families can increase.
“We have to create employment opportunities. If the poor get jobs, the purchasing power of families will increase,” he stated.
Prime Minister Narendra Modi assured investors that their businesses will be secure and will grow, telling the global investment community that he understands they look for security in their investments, growth and profit.
“Whether state or central government, we will proactively take up the role of being a facilitator of exports,” he highlighted.
Minister of State for Ministry of Commerce and Industry, Nirmala Sitharaman, stated in her opening speech that ‘Make in India’ is not a slogan but a mission to be accomplished and it is being launched only after taking a series of measures to ease doing business in the country.
She observed that ‘Make in India’ is about processes, new sectors to be strengthened, new infrastructure through corridors across the country, new industrial clusters and smart cities and a new mind set where all work as facilitators to companies.
She noted that the validity of industrial licences has been extended to three years and that the norms for FDI in construction are being eased.
According to her, the government is fully committed to make India a global manufacturing destination as there is huge potential in this sector – it contributes 15% to India’s GDP, which is much higher than other Asian countries, and the government is determined to push it up to 25%.
Mauritius’ Minister of Industry, Commerce and Consumer Protection, Cader Sayed-Hossen, who was the chief guest at the breakfast roundtable, commented on the vision of the Indian Prime Minister.
He expressed his gratitude towards India, which is opening its doors to foreign companies and, moreover, opening up avenues for Mauritian business people.
“Given the years of traditional cooperation between India and Mauritius, I have no doubt that this will also benefit Mauritius,” he stated.
Finally, Anup K Mudgal, High Commissioner of India to Mauritius, mentioned that the Indian economy offers a vast scale and enjoys huge potential for growth, besides showing safety for investment and providing diversity in global investment portfolios.
He ended on the note that Mauritius can benefit greatly through knowledge transfers from India, keeping in mind India’s manufacturing capabilities and that the island economy can leverage such skills to its advantage.
- By Marie-Lorry Coret and Cecilia Samoisi