Kuala Lumpur: Prime Minister Narendra Modi on Saturday arrived in the Malaysian capital Kuala Lumpur for the 13th ASEAN-India summit from Nov 21-22. Strong economic ties, collaboration in anti-terrorism and connectivity between India and the ASEAN nations are high on Modi's agenda.
Here's what PM Modi said in his address:
1. I invite you to come and see the winds of change in India. Winds do take time to cross the borders. That is why I am here to invite you. Most ASEAN economies have done their bit for Asia’s resurgence. Now, it is India's turn. We know that our time has come.
2. I want to assure you that India is committed to protect Intellectual Property Rights (IPR) of innovators. A National IPR policy is expected by end of the year.
3. To re-vitalize the flow of investments, we have launched 2nd wave of reforms. We are trying to further open up the economy.
4. Index of Industrial Production (IIP) in current year shows a distinct improvement over the last year. We are working in all ways to make India a global manufacturing hub.
5. The pace of award of new highway works has increased from 9 km/day in 13-14 to 23 km/day currently.
6. Our major ports witnessed 4.65% growth in traffic and 11.2% increase in operating income in 14-15 despite a global contraction in trade.
7. We have launched a 'Housing for All' program. It involves building 20 million urban houses and 29.5 million rural houses.
8. Macro-economic stability is good. But to transform India, much more needs to be done. We have begun a series of concerted steps. By almost every major economic indicator, India is doing better than when we took office.
9. GDP growth is up and inflation is down. Foreign investment is up and the CAD is down. Tax revenues are up and interest rates are down.
10. Reform for me is just a way station on the long journey to the destination. The destination is the transformation of India.
11. We asked ourselves the question – Reforms for what? What is the aim of reform? My answer is clear: We must reform to transform.
12. PM Modi called for enhancing cooperation with ASEAN on terrorism and for adoption of Comprehensive Convention on International Terrorism.
13. We look fwd to ASEAN leading the way in defining the regional architecture. We attach the highest priority to this partnership.
14. ASEAN remains the largest investment partner – both for inward and outward flows - but there is great potential for expansion.
15. We meet at a time of multiple global challenges. In this difficult time, India & ASEAN are bright spots of optimism.